After winning this award in 2024, Aon has again won climate risk initiative of the year for Impact Forecasting, its catastrophe model development division, which has also picked up the prize for Catastrophe risk modelling solution of the year. For this climate risk award, the prize was given for the firm's ELEMENTS Catastrophe Modelling Platform.

The platform was updated and refined throughout the year, sitting at the heart of the Impact Forecasting Toolkit. The team's 150 models and latest ELEMENTS 19 platform enable catastrophe modellers to obtain new insights and manages the entire process. This ranges from the ability to use an insurer's loss data to customise various model components, to extensive reporting capabilities to communicate results.

Part of the work done was to look at the quantification of climate change and its impact on the insurance and reinsurance industry. As part of its offering, the team consider the "Totality of Hazard Risk", which combines aspects of hazard—such as frequency, behaviour, location, and readiness—to understand and quantify the risks of tomorrow.

The work done by the firm is also notable for its collaborations with academia. It is currently working with Columbia University on implementing a climate-conditioned event set into a US hurricane model framework on ELEMENTS. It is also collaborating with Germany's Karlsruhe Institute of Technology.