OREANDA-NEWS. October 30, 2015.  Aon Hewitt, the global talent, retirement and health solutions business of Aon plc, today announced it has been named one of the winners of the 14th annual Chicago Innovation Awards.

The Chicago Innovation Awards is the Chicago region’s foremost recognition of the most innovative new products or services brought to market or to public service each year. Aon Hewitt was recognized for creating the Aon Active Health Exchange, the industry’s first and largest private health exchange built for large companies.  As one of Aon’s private exchange solutions, the Aon Active Health Exchange creates a competitive marketplace for group health insurance by featuring multiple insurance carriers that compete for each employee’s business by offering a standardized menu of plans and coverage levels. 

“Our team, working in partnership with our clients, developed an innovative solution to help manage costs,  increase employee choice and improve health and wellbeing, while strengthening companies’ ability to attract the best talent and deliver on their commitment to their workforces,” said Kristi Savacool, CEO of Aon Hewitt. “The Aon Active Health Exchange addresses these issues in a completely new way—effectively applying competitive market forces and consumerism to group health benefit plans to drive down costs while providing broad choice and a high-quality experience for employees. We are honored that the Chicago Innovation Awards has recognized our groundbreaking work in this space.”

In 2015, more than 30 companies representing over 850,000 employees and their eligible dependents offered group health benefits through the Aon Active Health Exchange. Third-year enrollment results demonstrate that Aon’s exchange is delivering on its promise to control cost, engage consumers and offer broad choice. Companies going through their second-year renewal had average health care cost increases of 2.6 percent over the two years they were in the exchange.  According to Aon’s post-enrollment survey, 97 percent of individuals completed enrollment through the Aon Active Health Exchange, and 87 percent of individuals liked being able to choose among multiple carriers.

The complete list of this year’s Chicago Innovation Award winners can be found at www.chicagoinnovationawards.com.