Aon Acquires Valley Oak Systems
Unrivaled End-to-End Claims and RMIS Offering
CHICAGO, March 19 / -- Aon Corporation (NYSE:AOC) today announced it has completed the acquisition of Valley Oak Systems of San Ramon, California. The terms of the transaction were not disclosed.
(Logo: www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO )
Valley Oak Systems (VOS), a leader in claims management software, services, and support for the insurance industry, will operate under the Aon eSolutions Group as an independent subsidiary. Its flagship product, iVOS, the "one-system" claims management solution, will integrate with RiskConsole, Aon's risk management information system (RMIS), to share information and provide a comprehensive analysis of claims, policy, and exposure data.
"We selected Valley Oak Systems due to our similar business philosophies and the strategic fit of our market-leading systems," said Greg Case, Aon president and chief executive officer. "Our mutual focus on delivering service, expertise, and business value will enable a synchronized effort toward building a comprehensive RMIS that offers a 360-degree view of risk and cost-containment at the individual claims level."
eSolutions' Managing Director Kathy Burns said, "Independently, Valley Oak Systems and Aon eSolutions will continue to operate as the leading providers in their respective markets, but together we'll provide an integrated offering that addresses a currently overlooked need in the market -- the need for an end-to-end, browser-based solution that manages complex claims and controls the total cost of risk. This combined iVOS and RiskConsole suite will be the only solution of its kind in the global market."
Randy Wheeler, founder and chief executive officer of Valley Oak Systems, said, "The acquisition will expand our capabilities in meeting the needs of our existing client base, by offering Aon's risk management expertise and systems. At the same time, we plan to leverage Aon's premier distribution network and existing relationships with insurance carriers and TPAs to accelerate our growth, globalize the iVOS solution, and explore ongoing synergies between our organizations."
About Aon
Aon Corporation ( www.aon.com/ ) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. There are 43,000 employees working in Aon's 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.
About Valley Oak Systems, Inc.
Founded in 1994, Valley Oak Systems ( valleyoak.com/ ) provides high quality software that enables its clients to achieve outstanding claims management performance. Due to its client-focused approach, Valley Oak Systems has established itself as an industry leader, and its iVOS claims system has been recognized for its business impact with the 2006 IASA Technology Achievement Award.
Media contact:
Al Orendorff
312.381.3153
al_orendorff@aon.comhttp://aon.com/newsroom
Cynthia Chow
925-242-4600
cchow@valleyoak.com
FCMN Contact: rahsaan.johnson@aon.com
Source: Aon Corporation
site: www.aon.com/
http://aon.com/newsroom
http://valleyoak.com/
