On Aon Podcast: C-Suite View on Navigating Complexity and Volatility with Greg Case

On Aon Podcast: C-Suite View on Navigating Complexity and Volatility with Greg Case
February 27, 2025 14 mins

On Aon Podcast: C-Suite View on Navigating Complexity and Volatility with Greg Case

On Aon Podcast Hero Image

Aon CEO Greg Case discusses growing complexity and volatility of risk. 

Key Takeaways
  1. Experts discuss risk complexity, volatility, and interconnection.
  2. Experts discuss how data and analytics can help leaders make better decisions.
  3. Experts examine opportunities for business to more effectively address risk and people issues.

Intro:

Welcome to the On Aon podcast, where we dive into some of the most pressing topics that businesses and organizations around the world are facing. Today, we're looking at the big picture of risk with a special conversation with Aon CEO, Greg Case.

Lisa Stevens:

Welcome to the On Aon podcast. My name is Lisa Stevens and I'm Chief Administrative Officer at with responsibility for our people organization, marketing and communications and public affairs teams.

On today's On Aon episode, we'll be discussing the growing complexity and volatility that is impacting businesses and society. What's driving some of the challenges our clients face and how we're using investments in technology and analytics to drive better decision-making and creative positive outcomes. And I'm thrilled to say that I'm joined today by Aon CEO, Greg Case. Thank you for being here today, Greg.

Greg Case:

Thank you, Lisa. It's wonderful to be with you and our listeners.

Lisa Stevens:

We both were recently back from Aon's annual Property and Casualty Symposium, where we convened more than 1,500 clients and insurance market partners to discuss the risk landscape across property and casualty and opportunities for greater resilience and growth. What was top of mind with the clients and market partners you spoke with in Florida?

Greg Case:

Well, Lisa, first I gotta say, we both saw this. It was an absolutely phenomenal event. In fact, Lisa, our 20th anniversary, it was really cool, very extraordinary. And each year allows us to bring our experts together with our clients, our market partners, they all come together, they share actual insights and innovative solutions to really some of the greatest challenges that our clients are facing. It's really a unique event. And I must say, over the last few years, our clients consistently remarked, literally every year that decision-making, it's become harder than during the previous year, literally just increasing every year, you know, on a consistent basis. And really if you think about it, the world as they describe it to us, it's just become more volatile, become more complex. 2024 clearly proved to be no exception and 2025 is obviously off to a challenging and fast start, if you want to call it that.

Think about it. Just look at the last edition of Aon's annual climate and catastrophe insight report. 2024 least was the sixth costliest year on record for insured losses. Total economic losses reached $360 billion globally, $360 billion, and that's 10 % above the long-term average since 2000. Again, think about it, only 40 % of the $360 billion of economic losses were covered by insurance, which means a 60% protection gap, and it was also the warmest year on record, underscoring the importance of really reliable climate data and analytics as our clients think about the challenges.

You know, Lisa, we're now only a month into the year and we obviously witnessed the incredibly devastating wildfires in California where we expect more than $30 billion insured losses and with again, far more damage not covered by insurance. Yet in the face of all this volatility, as we talk about all the time, Lisa, there's also significant opportunity and opportunity for businesses, but also for society and our investments in data analytics are providing our clients with greater precision in the face of all these risks they face. And these insights can lead them to take really effective actions and use innovative solutions to address their risks in new and more impactful ways. Really climate risk is at the top of mind for the leaders we come together with in Florida, you know, at the symposium, but really around the world. And it wasn't the only risk on our mind, but my gosh, was it front and center on the symposium or was it a really powerful, unique event?

Lisa Stevens:

You know, Greg, when you throw out the numbers, $360 billion globally in 2024, and then you think about the most recent wildfires in California, and that being over $30 billion, and the opportunity for Aon to really to step up and help to navigate all of this. And then you talk about the data and analytics, and I think about all the work that's happening with the analyzers. I have to say that one of the things that I found so impressive at the property symposium was the better decision labs and the opportunity for our clients to actually be sitting with our colleagues, going through your own information and being able to see and help them be able to see how they could predict and look at the things that they need to know to run their businesses and quite frankly, to make better decisions, which is exactly what it is. And I know you had an opportunity to spend some time in the labs. I'd love to just get your take on how that went.

Greg Case:

Lisa, my gosh, were you right? The decision labs were incredible because they really brought together the content, the data, the analytics that we've been working on so diligently for the last number of years, really responding to client need. And I will tell you, for me, it was a thrill to sit with clients as they saw their own data come to life on the screen. They could see literally vulnerabilities they had inside of an event, you know, in case of wildfires and one client, absolutely phenomenal. But they got a chance to see what this data could do for them as they think about the potential impact over time of climate risk on their overall portfolio of assets. So Lisa, you're 100 % right. What's going on sort of in the climate world presents all these challenges and all these issues. But my gosh, in the context of that, data, content, insight, presents a set of unique opportunities as they think about shaping their firms. And it was just really remarkable to see.

Lisa Stevens:

Greg, I mean, I think also about last year when we decided to really identify the four mega trends that were impacting every aspect of business decision making. So, trade, technology, weather, which you've just touched on quite a bit. And then of course, workforce, near and dear to my heart. But we continue to see the influence of these mega trends even more just in the first two months of 2025. And the interconnected nature of these trends means clients need advisors who are able to look at the connection points and provide integrated solutions and responses.

Greg Case:

Listen, Lisa, you just said it unbelievably well. This is really about these megatrends and what they mean, but also the connectivity around them. And our clients really have responded that these megatrends have really driven a level of complexity and volatility that really changes the way they think about the risk in people issues. And Lisa, as we've talked about, this isn't something that's about a region. This is global. It's really powerful that these same sets of issues, this connectivity around the issues, show up everywhere around the world. They show up in our biggest companies, biggest clients, medium size and even smaller clients. And as we said, we talked about the weather before, but think about the other three. Think about trade. This is flat out geopolitical instability, it's supply chain challenges, inflation, and now the emergence of tariffs and with potential to lead to, you know, all kinds of trade conflict. And it really means that the business of doing business really globally, regionally, locally, it's just more complex. It's harder. And this is why trade matters so much in the context of the megatrends.

And then think about connectivity on trade to the technology front. And we're not just talking about increasing cyber threats and all the things that come with enhancements in AI. Think about what we just saw from DeepSeek, literally potentially lowering the cost of generative AI development. Technology continues to create both new and evolving risks, but really, again, back to the idea, substantial opportunities. This isn't just about protecting the house for our clients. This is about building the house and how these megatrends sort of influence that.

So we've talked about weather, we've talked about grade, we've talked about technology, and then we come back to the near and dear to your heart, really around workforce and talent. And many of the businesses are out there using AI to better enable their employees, provide further value for clients, find inefficiencies, how they can reform those. But the transformation is really adding to a redefinition of the workplace. something you've talked about with our colleagues around the world and with many of our clients and really, this maybe began in earnest with the pandemic, but coming out of it, finding attracting, retaining, rewarding top talent, it's fundamental to business performance and it's harder than ever. No one knows this more than you do. And without the right tools and advice, you really are left with a disadvantage. And if you think about it, each of these megatrends by themselves, weather and trade and technology and workforce, each of them is a powerful force, but connected is really what creates the complexity that we talked about.

And in many respects, you know, this is really the battle for relevance. How do leaders really make a difference in their organizations? How do we help them make a difference in their organizations against higher and higher expectations as they think about, you know, what we needed to evolve to meet their needs. And it means, Lisa, we've got to bring the best we can around emerging risk and people challenges to bear. And really not just around advice, but also around transferring and risk kind of accompanied with it. This is going to be driven by new insights.

Lisa Stevens:

It's a pretty incredible way for us to move forward and strategically move forward and help our clients and people around the world. I want to finish with another question. It has been, again, we're two months into 2025, so much to look ahead to. What are you thinking about when you think about the rest of the year and what are you most excited about?

Greg Case:

Well, listen, I just personally, feel so privileged to be supporting my 60,000 colleagues at Aon as they're on our mission to try to make a difference in the world as we support our clients. I'm really excited about where we are. I'm excited because we see this world as more complex. The demand is going up. The complexity is going up. As we said before, volatility going up. But we have really never been in a better position to help clients address these challenges, which is incredibly gratifying.

You want to see a happy Aon colleague, you watch your colleague who wows a client and that makes a massive difference in our firm. And we're in a really unique position. We've really created what we believe is very much a first mover advantage. We launched a 3x3 plan, put us in a position to really curate and develop a set of analytics and content that will help us go further, faster and really accelerate our Aon United strategy. These commitments, we talk about three commitments over the next three years, 3x3 plan, not too clever, 3x3.

Three commitments, risk capital and human capital truly delivered around the world. No one's ever done that before. Really delivered through Aon client leadership and enterprise client—never been done before. And really powered by what we're doing in Aon business services. Again, this is 16,000 of our 60,000 Aon colleagues, massive. So these are things that have never been done. Risk capital and human capital, what we're doing with Aon client leadership and enterprise client. How we're driving that through all that's happening in Aon business services.

And then we said, listen, we are so excited about what this means that we are committing a billion dollar investment to accelerate that. We'll achieve it over time, but we're not going to wait. Our clients can't wait. We literally said we're making us take a step to accelerate a billion. We also made a huge investment to support the middle market as we brought NFP into the Aon family. to me, they said, we've got this game plan in place. We launched it in ‘23. We just finished ‘24 and what ‘24 told us was, wow, massive momentum here.

This is exciting. Everything we would hope to be able to do, we achieved in ‘24. That lets us now really double down to ‘25 as we accelerated. And just to be clear, these are game changing things. Think about it. What we did in Ukraine, as an example, Ukraine really is desperate for capital to come in to help rebuild the country. Obviously, after the war concludes, but literally we took a step beyond that. In working with the commerce secretary, working with someone who was really designated to really work on Ukraine rebuild.

We marshaled resources in the US government and then eventually in the European theater in a way and a unique public private partnership, which meant we could bring private capital, private capital, Lisa, into Ukraine in a way that supported rebuild during a war. This is crazy. Amazing. I this has really never been done in the way we've been able to do it. And we created a platform that then it's going to be highly leverageable once the war concludes. So we can truly accelerate what it means to win in time of peace. And I will tell you the two times that I've spent with president Zelenskyy, this was really all about they're working to win the war or achieve an outcome on the war. .But in the end, what he really wanted to do is also find companies like Aon, who could help them win in time of peace. And he truly appreciates, you know, what we've been able to do on behalf of the country. And this is true straight up innovation, all driven out of the concepts and the content of the 3x3 plan in the analytics.

So as I said, this is not conceptual. I mean, this is straight up real. We did a first of its kind insurance policy for the National Federation of the Red Cross and Red Crescent Societies as well. This is a unique evolution around a disaster response emergency funds. I'm excited about the opportunities that you and our colleagues around the world have really pulled together and made possible for our clients. And the fact that we've made such progress means we can make so much more progress in the global environment.

Lisa Stevens:

Greg, I have to say, and I could say this, think on behalf of our 60,000 colleagues, that I have never been more proud of the work that we do all around the world and what we have done with Ukraine. It's inspiring and so much again about it's what we do. We go in there and we solve and before the war even broke out. So Greg, I just want to say thank you so much for joining us again on the On Aon podcast. That's our show for today.

But we hope you'll tune in again for future episodes for more insights on the most pressing risk and people issues facing business decision makers. Until next time.

Outro:

Thanks for tuning in to the latest episode of On Aon. If you enjoyed this episode, don't forget to subscribe wherever you get your podcasts, and be sure to visit Aon.com to learn more about Aon. 

General Disclaimer

The information contained herein and the statements expressed are of a general nature and are not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information and use sources we consider reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Terms of Use

The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. To use information contained herein, please write to our team.

Aon's Better Being Podcast

Our Better Being podcast series, hosted by Aon Chief Wellbeing Officer Rachel Fellowes, explores wellbeing strategies and resilience. This season we cover human sustainability, kindness in the workplace, how to measure wellbeing, managing grief and more.

Aon Insights Series Asia

Expert Views on Today's Risk Capital and Human Capital Issues

Aon Insights Series Pacific

Expert Views on Today's Risk Capital and Human Capital Issues

Aon Insights Series UK

Expert Views on Today's Risk Capital and Human Capital Issues

Construction and Infrastructure

The construction industry is under pressure from interconnected risks and notable macroeconomic developments. Learn how your organization can benefit from construction insurance and risk management.

Cyber Labs

Stay in the loop on today's most pressing cyber security matters.

Cyber Resilience

Our Cyber Resilience collection gives you access to Aon’s latest insights on the evolving landscape of cyber threats and risk mitigation measures. Reach out to our experts to discuss how to make the right decisions to strengthen your organization’s cyber resilience.

Employee Wellbeing

Our Employee Wellbeing collection gives you access to the latest insights from Aon's human capital team. You can also reach out to the team at any time for assistance with your employee wellbeing needs.

Environmental, Social and Governance Insights

Explore Aon's latest environmental social and governance (ESG) insights.

Q4 2023 Global Insurance Market Insights

Our Global Insurance Market Insights highlight insurance market trends across pricing, capacity, underwriting, limits, deductibles and coverages.

Regional Results

How do the top risks on business leaders’ minds differ by region and how can these risks be mitigated? Explore the regional results to learn more.

Human Capital Analytics

Our Human Capital Analytics collection gives you access to the latest insights from Aon's human capital team. Contact us to learn how Aon’s analytics capabilities helps organizations make better workforce decisions.

Insights for HR

Explore our hand-picked insights for human resources professionals.

Workforce

Our Workforce Collection provides access to the latest insights from Aon’s Human Capital team on topics ranging from health and benefits, retirement and talent practices. You can reach out to our team at any time to learn how we can help address emerging workforce challenges.

Mergers and Acquisitions

Our Mergers and Acquisitions (M&A) collection gives you access to the latest insights from Aon's thought leaders to help dealmakers make better decisions. Explore our latest insights and reach out to the team at any time for assistance with transaction challenges and opportunities.

Navigating Volatility

How do businesses navigate their way through new forms of volatility and make decisions that protect and grow their organizations?

Parametric Insurance

Our Parametric Insurance Collection provides ways your organization can benefit from this simple, straightforward and fast-paying risk transfer solution. Reach out to learn how we can help you make better decisions to manage your catastrophe exposures and near-term volatility.

Pay Transparency and Equity

Our Pay Transparency and Equity collection gives you access to the latest insights from Aon's human capital team on topics ranging from pay equity to diversity, equity and inclusion. Contact us to learn how we can help your organization address these issues.

Property Risk Management

Forecasters are predicting an extremely active 2024 Atlantic hurricane season. Take measures to build resilience to mitigate risk for hurricane-prone properties.

Technology

Our Technology Collection provides access to the latest insights from Aon's thought leaders on navigating the evolving risks and opportunities of technology. Reach out to the team to learn how we can help you use technology to make better decisions for the future.

Top 10 Global Risks

Trade, technology, weather and workforce stability are the central forces in today’s risk landscape.

Trade

Our Trade Collection gives you access to the latest insights from Aon's thought leaders on navigating the evolving risks and opportunities for international business. Reach out to our team to understand how to make better decisions around macro trends and why they matter to businesses.

Weather

With a changing climate, organizations in all sectors will need to protect their people and physical assets, reduce their carbon footprint, and invest in new solutions to thrive. Our Weather Collection provides you with critical insights to be prepared.

Workforce Resilience

Our Workforce Resilience collection gives you access to the latest insights from Aon's Human Capital team. You can reach out to the team at any time for questions about how we can assess gaps and help build a more resilience workforce.

More Like This

View All
View All
Subscribe CTA Banner