As was mentioned in Kellie’s previous post, the CRMER risk fellows traveled to Chicago on April 25th and 26th. In addition to visiting several of the must-see tourist spots in Chicago, including “the bean,” Willis Tower, and Lake Michigan, we had the privilege to sit down with six risk experts at the Aon Corporation for over three hours on Friday.
Earlier this semester, we had the unique opportunity to meet with Greg Case, president and chief executive officer of Aon and alumnus of K-State, when he came to Manhattan to give a campus presentation. Mr. Case briefed us on Aon’s risk management tools and gave us tips on how to be successful as we finish school and launch our careers. We were excited to learn more about Aon during our visit to Chicago.
Aon is the leading provider of risk management services and insurance and reinsurance brokerage in the world. They have over 65,000 employees in 120 countries. During our trip, we met with two experienced Aon employees and four newer employees who were able to provide us with some valuable advice on what to expect as we enter the workforce. They briefed us on how Aon is able to help other companies identify, quantify, and understand how to mitigate their risks. In most cases, expert risk analysts at Aon are providing an outside perspective on the risks that a company faces and then directing the company to an insurance provider. Even companies that specialize in risk management, like insurance companies and the CME Group, need an outside perspective to ensure that they are appropriately quantifying their risks. We discussed the many different types of risk that companies face: credit risk, brand risk, reputation risk, operational risk, compliance risk, and many, many more. We also learned about the risks that Aon itself faces; one of the most troublesome risks comes in the form of errors and omissions in their reports and contracts. Before we left for the day, we watched a neat video about Aon, and they supplied us with a delicious lunch!
We would like to thank everyone at Aon for their hospitality and for providing us with some great advice and conversation. We hope to hear from Aon again in the future as this was a truly amazing experience!
-Claire Luensmann and Donnie Sketchley