Aon eSolutions Launches Clinical Trials Module

2008-08-13 14:00:00

   Provides risk managers with comprehensive overview of clinical trials,

                  including exposure and required coverage



    CHICAGO, Aug. 13 /EMWNews/ -- Aon eSolutions, the client

technology arm of Aon Corporation (NYSE: AOC) and the leading provider of

global risk and insurance solutions, today announced it has launched a new

Clinical Trials module as part of RiskConsole, the market-leading,

browser-based risk management information system (RMIS).



    



    Developed in conjunction with the Life Sciences practice of Aon Risk

Services, RiskConsole's new Clinical Trials module enables risk managers to

monitor all of the clinical trials in which their organizations are

involved, the total exposures represented by those trials, and the required

insurance coverage. At the same time, RiskConsole enables organizations to

streamline the management of clinical trials, providing visibility into

project status across studies.



    Clinical trials and clinical research is the process of testing the

safety and efficacy of new drugs and medical devices before they're

approved by the U.S. Food & Drug Administration. General and professional

liability coverage is required throughout this testing process. As a

result, sponsoring pharmaceutical and life sciences companies, as well as

participating healthcare facilities and professionals, need to carefully

track, assess, and manage clinical trial risks in order to obtain adequate

coverage.



    "Risk managers may find it challenging to keep track of the many

clinical trials taking place at their institutions, and obtaining an

overview is time-consuming and resource intensive," said Kathleen Burns,

chief executive officer of Aon eSolutions. "With RiskConsole, risk managers

have the ability to monitor clinical trials worldwide, so they have an

immediate and comprehensive understanding of the trials underway and the

extent of the exposure."



    Increased globalization of clinical trials presents additional

challenges for life sciences companies. Aon's 2008 Clinical Trials Risk Map

charts the complex insurance requirements and risk management needs that

exist for companies conducting clinical trials globally. For instance, in

53 percent of the countries included in Aon's analysis, businesses must

include a certificate of insurance in their regulatory filing package.



    The RiskConsole Clinical Trials module tracks coverage required by

government agencies in various host countries, and whether proper insurance

documentation was provided to regulators. The system also acts as a

valuable planning tool that enables companies to better manage the entire

life cycle of a clinical trial. Other key features and benefits include:




-- The ability to track certificates of insurance and T85 protocol documents electronically. -- Time-stamping enables risk managers to monitor and determine the current stage and ongoing progress of trials. -- A user-friendly graphical dashboard identifies when critical milestones are met. -- Multi-currency, multi-lingual capabilities accommodate the need to monitor clinical trial exposure worldwide. -- Automatic scheduling of reports and distribution of alerts to notify companies of potential problems, adverse events, or non-compliance. -- Real-time coordination of communication and activities among various stakeholders, including the risk manager, researchers, project managers, clinical directors, brokers, and underwriters. "Clinical trials are essential to bringing new drugs or medical products to market, but missteps in the placement of insurance can delay or disrupt the process, resulting in costly financial implications," said James Walters, managing director of Aon Risk Services' Life Sciences practice group. "To date, companies used paper-based processes and spreadsheets to track clinical trials. RiskConsole offers a web-based platform to streamline this process and ensure proper coverage has been secured."

    About Aon



    Aon eSolutions is the client technology solutions arm of Aon

Corporation (NYSE: AOC). We provide innovative products, services and

solutions to meet the diverse and varied needs of risk and insurance

professionals. Our best-in-class systems-iVOS, RiskConsole, AonLine, and

SafetyLogic-provide an unparalleled and integrated risk and insurance

technology suite. This award-winning technology streamlines business

processes and optimizes resources through a personalized and configurable

approach and has resulted in measurable value for our clients. For more

information on Aon eSolutions, log onto http://www.aon-esolutions.com.



    Aon Corporation (NYSE: AOC) is the leading global provider of risk

management services, insurance and reinsurance brokerage, human capital and

management consulting. Through its 36,000 colleagues worldwide, Aon readily

delivers distinctive client value via innovative and effective risk

management and workforce productivity solutions. Our industry-leading

global resources, technical expertise and industry knowledge are delivered

locally through more than 500 offices in more than 120 countries. Aon was

named the world's best broker by Euromoney magazine's 2008 Insurance

Survey. In 2008, Aon ranked highest on the Business Insurance ranking of

the world's largest insurance brokers based on commercial retail,

wholesale, reinsurance and personal lines brokerage revenues. Aon also was

ranked by A.M. Best as the number one insurance broker based on brokerage

revenues in 2007 and 2008, and was voted best insurance intermediary, best

reinsurance intermediary, and best employee benefits consulting firm in

2007 by the readers of Business Insurance. For more information on Aon, log

onto http://www.aon.com.




Media Contact: Tammy Delatorre 661-775-0550 tammydelatorre@yahoo.com

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