Recently Aon Affinity, the consumer association ad group program business of Aon Plc. (AON) announced a strategic alliance with BOLT Solutions Inc. (“Bolt”), the leading online sales and client service platform. This agreement is an attempt to enhance its services and strengthen the customer base, thereby bolstering revenues going forward.
As part of the partnership, Aon Affinity will utilize Bolt’s platform to provide a real time, multi-quote solution to the leading small business association, National Federation of Independent Business (:NFIB). As a result Aon will be able to cater to the various needs of the clients of NFIB. Moreover, the deal is adequately flexible for Aon to tackle the small business insurance requirements of its own customers.
The deal will benefit NFIB members by providing them customized commercial insurance solutions. It will allow NFIB members access to products from leading insurance companies for small commercial insurance. NFIB, which assists its members by exposing them to affordable, top-rated insurance carriers for their business, will now be able to enhance the qualitative aspect of its services.
At the same time, the association with Aon Affinity will enable Bolt to serve its customers better. Thus the transaction is expected to help Bolt to retain and acquire customers, thereby strengthening its clientele base.
In order to expand its business, the company engages in a number of partnership programs. The previous deal on the list was the announcement to partner Manchester United Plc (MANU). The new partnership, effective Jul 1, 2013, will extend the association for a further period of eight years to 2021. Subsequently, the Club's renowned training centre will be renamed as the Aon Training Complex.
Among others from the industry, Everest Re Group, Ltd. (RE) has entered into an agreement with Arrowhead General Insurance Agency, Inc. (“Arrowhead”), a subsidiary of Brown & Brown, Inc. (BRO) in Mar 2013, in sync with the long term strategy to grow its non standard line of business.
Aon currently carries a Zacks Rank #3 (Hold) while Everest Re carries a favorable Zacks Rank #1 (Strong Buy). Aon, the leading risk management, insurance and reinsurance provider, operates in more than 120 countries.
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