Aon Corp. is hoping to build its business by developing more relationships with minority-owned risk management and consulting companies, the company announced.

Aon Cornerstone Innovative Solutions is an entrepreneurial growth strategy designed to deliver distinctive value to clients by developing relationships with minority-owned partners across the firm’s three main business units: Aon Risk Services, Aon Benfield and Aon Consulting, the company said.

“Companies and their leaders who publicly embrace the concept of working closely with minority-owned businesses view this strategy as a key factor in generating tangible results,” said Greg Case, president and chief executive officer of Aon Corp., in a statement.

He called the project “the only initiative in the risk management industry that focuses on a true partnership with minority business enterprises.”

“The strategic approach for Aon Cornerstone is a proprietary, product-based solution that complements clients’ current supplier diversity goals,” added Leonard McLaughlin, president of Aon Cornerstone Innovative Solutions. “We will deliver added value to our clients through partnerships with highly qualified certified minority-based risk management and consulting companies. Our unique value proposition will also include products and services from minority-owned insurance companies and minority brokers in our offerings to clients.”

Aon Cornerstone seeks to build on the goal of the members of the National Minority Supplier Development Council, whose membership includes many Fortune 500 companies working to boost the use of minority-owned enterprises from the $100 billion spent in 2007. Less than 1% of the goal is realized through the purchase of risk management products and services, officials said.

Specific initiatives like Aon Cornerstone complement supply chain requirements, industry and regulatory mandates, and a desire for broadened market appeal, fueling the growing trend by major corporations to expand business relationships with minority business enterprises.