Aon

Aon plc (NYSE: AON), a global professional services and insurance brokerage firm headquartered in Dublin with approximately 50,000 employees, generated $11.1 billion in revenue in FY2020. The company's adjusted operating margin was 28.5%, solid but constrained by a fragmented operational structure inherited from decades of acquisitions. Back-office systems, technology infrastructure, and operational processes were siloed across Aon's four solution lines — Commercial Risk Solutions, Reinsurance Solutions, Health Solutions, and Wealth Solutions. Client-facing teams operated largely independently, limiting cross-selling and creating duplicative processes. In July 2021, the $30 billion combination with Willis Towers Watson was terminated, resulting in a $1 billion break fee and an 800 basis point hit to reported operating margin that year. The failed merger refocused management attention squarely on organic growth and internal efficiency.

Starting in 2021, Aon accelerated two interconnected transformation initiatives — Aon United and Aon Business Services — to consolidate operations and drive margin expansion:

• Aon United operating model: Restructured the firm's go-to-market approach to break down silos between solution lines. Established Client Leadership roles that coordinated risk, reinsurance, health, and wealth advisory into integrated client offerings rather than standalone products, enabling cross-selling across previously independent practices.
• Aon Business Services (ABS) platform: Centralized back-office and middle-office functions — IT, finance, HR, data, analytics, and operations — into a shared services backbone. ABS standardized processes, consolidated technology systems, and provided common analytics infrastructure serving all four solution lines. Management described ABS as the operational 'engine' enabling the Aon United front-office model.
• 3x3 Plan and $900 million restructuring: In 2023, Aon announced a three-year, $900 million restructuring program (plus approximately $100 million in non-cash charges) to accelerate ABS. The investment covers technology modernization to streamline and simplify operations, headcount optimization, and real estate consolidation. The program targets approximately $350 million in annual run-rate savings by end of 2026.
• Technology capital investment: Deployed $252 million in capital expenditures in FY2023 for technology platforms, including proprietary analytics tools such as CyQu (cyber risk assessment), data-driven risk modeling, and shared infrastructure supporting the Aon United model.