Aon has entered into an agreement to acquire Valley Oak Systems and expects to consummate the transaction by Jan. 31. Valley Oak is a provider of claims management software, services, and support for the insurance industry. Its iVOS one-system solution includes medical bill review, policy underwriting, case management, billing, and event management capabilities.
Valley Oak will integrate and share data with RiskConsole, Aon's RMIS solution, creating an end-to-end browser-based offering for the global market. The acquisition of Valley Oak follows the successful integration of Risk Laboratories, LLC, in 2004.
"We selected Valley Oak Systems because of its exceptional reputation in the market, its dedication to serving clients, and the high caliber of talent within its organization," says Greg Case, Aon president and CEO. "By combining our strengths, we will create a comprehensive risk management information system offering that will have no peer in the marketplace."
Randy Wheeler, founder and chief executive officer of Valley Oak, says, "During the last few years, we've experienced tremendous growth in all aspects of our business. With Aon, we'll continue this strong growth and provide more comprehensive products and services to our clients. Since both of our products are native to the Internet, we'll create the only end-to-end browser-based insurance solution in the global marketplace."
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