Aon Broker Alex Moen Recognized as a 2019 Cyber Power Broker
Alex Moen, Vice President, Aon
A retail client that suffered a high-profile breach was still faced with painful premiums years after the event, despite its cyber risk control investments. Aon’s Alex Moen set out to change carriers’ perception of the company’s risk, working with internal stakeholders to develop a strategic plan to get things back on track.
Efforts included annual underwriting days to build insurers’ understanding of and comfort with the company’s risk level, communicating renewal goals far in advance and seeking additional primary options which included larger limit deployment.
At renewal time, Moen and the team leveraged limit options by the primary insurer to force excess insurers to correct their pricing. The result: Premium was reduced by more than 20 percent while maintaining insurer partnerships and expanding coverage to include broad business interruption coverage.
“Alex demonstrates not only an ability to go above and beyond, but he looks for opportunities to do it,” said the vice president of risk management for a gaming and hospitality client. “And he does it with a higher degree of accuracy because he listens and pays attention.
“Our IT and digital security team love Alex and what he brings to the table. When we were going through renewal, he heard a digital security team member say, ‘I wish we had a better way to quantify our risk exposure.’ He found a partner for us and got our program to pay for it. Alex has the ability to establish himself as one of the greats in this industry.”
A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they delivered over the past year. While brokers play many key roles in the insurance industry and risk profession, a Power Broker® award recognizes problem solving, customer service and industry knowledge.
Our goal is to broadly recognize and promote outstanding risk management and customer service among the brokerage community.
Who selects the winners?
Power Brokers are selected by Risk Managers based on the strength of the testimonials they provide to a team of 15 Risk & Insurance editors and writers.