Aon Buys Risk Laboratories, Plans Expansion
By Mark E. Ruquet
NU Online News Service, March 23, 3:22 p.m. EST?Aon Corporation said it has purchased Risk Laboratories, LLC, a Web-based risk management information systems provider, from a subsidiary of New York-based American International Group.[@@]
Terms of the transaction with American Home Assurance Company were not disclosed.
Founded in 1994, Risk Laboratories is based in Atlanta, Ga. The firm's 37 employees provide risk information services and analysis to corporate risk managers and public entities in the U.S.
Its core product is RiskConsole, a Web-based risk management information system that integrates claims, loss control and other data to assist in risk management decision-making. Its purpose, the Chicago-based broker said, is to help corporate executives better manage and control their organization's total cost of risk.
Risk Laboratories' software solutions can be configured to individual client specifications. The company offers a complete suite of risk management information services modules, including Enterprise Risk Management software intended to aggregate and map risks across an organization.
According to an Aon spokesperson, Risk Laboratories' services were primarily focused on the U.S. market place. Aon plans to expand Risk Laboratories' services into a global product, becoming multilingual and multicurrency in its application, she said.
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