US insurer Aon Corporation has completed the acquisition of Valley Oak Systems, which specializes in claims management software, services and support for the insurance industry.
Valley Oak Systems will operate under the Aon eSolutions Group as an independent subsidiary. Its flagship product, iVOS, 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.
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, commented eSolutions’ managing director Kathy Burns.
This combined iVOS and RiskConsole suite will be the only solution of its kind in the global market, she continued.
The terms of the transaction have not been disclosed.