The announced healthcare partnership between three heavyweights in the insurance, banking and retail worlds is a "massive opportunity" for Aon Plc, according to President and CEO Gregory Case.
Amazon.com Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. in late January announced that they are pursuing a venture to create a company that will leverage technology to lower healthcare costs for their employees. Case said he "loves the spirit" of the partnership, though few details have emerged about how that new entity will work.
Case during a fourth-quarter 2017 earnings call affirmed that health costs are increasing for more than 150 million Americans in employee-sponsored plans, citing "substantial pressure everywhere." The CEO said Aon is excited about a venture that promises to align employees and employers in benefits and costs, as well as providing greater transparency and choice for employees.
"We are absolutely excited and in favor of anything that moves in that direction because this opportunity is so massive," he said.
Case said Aon is heavily invested in innovations around active employees and retirees and, as a result, is in a unique position to help shape the outcome of what the venture will produce.
"Any movement by companies taking initiative in this arena is just absolutely terrific," Case said. "So I'm looking forward to seeing how this evolves."
