Utrecht/Rotterdam– Aon Hewitt transfers the pension administration of their customers over to RiskCo. Aon Hewitt continues to maintain the customer relationship with these specific pension funds and continues to provide many other services to these customers. Aon Hewitt is convinced that the administration is in good hands with RiskCo. RiskCo has developed a methodology, software and systems, that allows pension fund administrators better, faster and more cost-effective tools and techniques to adhere to pension regulations. These tools make administrations more accurate and flexible.
Pascal Hogenboom, CEO of Aon Hewitt: “Specialisation pays off. Aon Hewitt, also a worldwide market leader in human resource management, consultancy and outsourcing shares its market knowledge with the IT professional services firm, RiskCo.
The other way around, RiskCo shares its technical knowledge with Aon Hewitt.
RiskCo is an innovative firm that has convinced us they can manage the administration better, more cost effectively and future proof than we can. So, it is a logical step that you look for collaboration.”
Cees Krijgsman, CEO of RiskCo: “We are very honoured with the trust that Aon Hewitt has in us. We can show the customers of Aon Hewitt what RiskCo is capable of. Our promise is: 100% correct data and calculations in your administration.”
“Pension funds have multiple large challenges”, says Pascal Hogenboom.
Participants expect more insight in their actual pension information. Besides that, the pressure from the authorities on improving the communication with the participants is increasing. Rightfully so, because there will be more and more freedom of choice. At the same time the regulatory demands for security of personal data is becoming strict, also because of the General Data Protection Regulation (GDPR) that will become valid in 2018.
Cees Krijgsman: “The technology of RiskCo is state of the art, and together we can offer the pension funds solid solutions to meet those challenges. We expect to realise our growth potential both in the Netherlands and internationally in the collaboration with Aon Hewitt.”
Boost to financial funding and the management of RiskCo
The collaboration with Aon Hewitt means faster growth for RiskCo. Now that RiskCo is going to perform the pension administrations, it needs additional capital. Praxis IFM, a British financial services provider, is taking a considerable stake in the stock of RiskCo. The investment of Praxis IFM will be used to finance the growth of
RiskCo. The Executive Board of RiskCo will be reinforced by Marc Veen. Marc Veen was up until now active in private equity and amongst other things, co-founder and Chairman of the Board of Directors of Refresco.
Marc Veen says: “RiskCo has all the tools and knowhow to play a very significant role in pension administrations. We believe that we are at the start of a period where we can create economies of scale via consolidation. That will result in accurate, transparent and cost-effective administration of the obligations of the pension funds. That will in the end benefit the participants of the pension funds.
RiskCo develops systems for managing long-term, complex administrations, such as those of pension funds and life insurers in Europe, North America and Asia. The RiskCo software allows administrations, irrelevant of their size or their duration, by simplifying structure (not using the traditional financial software systems anymore) to be able to create (regulatory) reports, to adhere to compliance and predictions.
RiskCo has offices in the Netherlands, Portugal, the Philippines, with 85 employees. For more information go to www.riskco.nl
Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Aon analyses the personal and company risks, provides risk advice and (financial) solutions, and is ready to help if an incident threatens the business continuity. That is how Aon helps customers to be successful entrepreneurs.
Aon has 8 offices in the Netherlands with 1.540 employees, and is in 120 countries, with more than 50.000 colleagues. For more information go to www.aon.nl.
For more information:
Irene van Santen
Tel: 06 110 662 08