SVP, Risk Management Leader
According to international economists, since 2011 there has been a 70% increase in the number of companies operating internationally, as emerging economies have grown to account for 50% of the global economy.
Marsh’s multinational teams, backed by market-leading digital platforms, can be your first point of contact on all international insurance and risk issues. We support you with simplifying processes, maintaining transparency, and helping you develop global programs that align with local country standards.
Our global network of specialists offers insights, developed through years of experience in building customized insurance programs, to provide clients with seamless service and advice around the world.
Today, more than 42% of Fortune Global 500 companies are headquartered in Asia — an increase from just 29% in 2010, which indicates the rising competitiveness of the region’s businesses on the world stage. As Asia’s multinational companies (MNCs) pursue immense growth and investment opportunities globally, they need risk transfer and mitigation solutions that are tailored to their unique requirements and local regulatory environments. Risk management and insurance solutions are key to safeguarding their ambitions, which has seen an outwards foreign direct investment (FDI) stock from China, Japan, Korea, Taiwan, and India totaling over US$5.4 trillion — more than three times of the US$1.6 trillion in 2010.
The focus of these FDIs mainly centers upon infrastructure development, heavy industry, automotive, and high-end manufacturing. China, for example, has pledged more than US$1 trillion towards the Belt and Road Initiative, with projects and investment opportunities valued at US$3.7 trillion. Risk exposures from projects, physical assets, and investments need to be accurately quantified, and partnering with an experienced insurance broker and risk advisor is a crucial step to uncovering risk blind spots, prioritizing the right risks to address, and ensuring corporate accountability to stakeholders.
Quality of service sits at the heart of our network model. Marsh has decades of experience in Asia, providing specialist advice on managing multinational insurance programs and providing the highest level of local account service. This is what you can expect:
Marsh maintains an extensive and majority-owned network that operates seamlessly across the world. Through its global leadership, our network has the stability and culture to provide accountable, fluid, and consistent service for multinational clients. We provide consistent execution supported by clear escalation protocols and a global community of specialists. Our team continually shares best practices, helping us to deliver unmatched perspectives on global risk.
Our country-specific servicing teams provide unparalleled knowledge and support for the efficient management of cross-border programs, as well as the cost-effective procurement of compulsory and ancillary local coverages for companies. The effective execution of our clients’ global risk management strategy is underpinned by strategic central planning, our proprietary single technology platform, and consistent performance standards.
Our team of experienced global insurance advisors provides strategic insight and support on optimal international program design and network leadership. We have a deep understanding of insurance regulation and practice in territories around the world, which is especially important for companies operating in challenging regulatory and insurance environments.
Our industry-leading digital technology platform — Marsh Global Connect — provides clients with up-to-date data and global insight into multinational insurance programs, including a summary of global and local policies, detailed cost analysis by country, reporting functionality, and more. Our digital commitment includes the delivery of benchmarking, claims forecasting, and other analytics solutions. Each of these helps improve decision-making and drive efficiency across your multinational business.
Conducting business across geographic and political boundaries presents unique risks, as well as opportunities for growth. Specific multinational risks may include: failure to comply with country rules; unanticipated tax and cost implications; compulsory coverages; gaps or overlaps in coverage; supply chain disruptions; political risk to assets; and risks to the health and well-being of employees, clients, and suppliers.
If you operate in multiple countries, have employees traveling internationally, or import or export goods, then a multinational insurance and risk management program may help mitigate your risks.
Our dedicated multinational specialists help you structure, implement, and optimize your program. We help you identify potentially duplicative coverage and watch for coverage gaps, including compulsory policies. With our support, you can better balance coverage, cost, and compliance, so that you can be confident about the effectiveness and efficiency of your international insurance program.
Absolutely. Each country has unique insurance, tax, and regulatory requirements to navigate. Country risks are constantly evolving with new and emerging issues.
Based on where you operate and what you do, your domestic policy(s) may be insufficient for your global needs. Failure to comply with country insurance coverage regulations could result in tax or other liabilities, damage your reputation, or impair your coverage and loss recovery opportunities.
Our trusted global insurance advisors – including our Insurance Regulatory and Tax specialists – can help you mitigate these risks. We monitor changing insurance marketplace dynamics and regulations, enhancing the coverage response of your insurance and risk management program.
Simply identifying all of your insurance policies globally can be a challenge. Optimizing these – such as by eliminating unnecessary policies, implementing required policies, and evaluating different ways to insure risks – is the next essential step.
Marsh has the expertise, tools, and technologies to help you understand and optimize your program, facilitated by our industry-leading multinational program digital management tool, Marsh Global Connect. We also offer an international risk review, which is a methodical approach to analyzing and aligning your policies and costs to your risk management strategy.
Another program management challenge relates to international mergers and acquisitions, which require specialist knowledge and project management. Our multinational M&A project plan is a proven tool for integrating acquisitions thoughtfully and successfully.
“Global” or “controlled master” programs can be very effective at insuring risks in both the home country and another country (or countries) as needed. The insurer typically issues local underlying policies to meet local regulatory or business needs. This approach delivers ease of administration, coverage consistency, and cost-effectiveness.
Global or controlled master programs are often used for property, liability, D&O, cargo, and related coverages. Other coverages, e.g., automobile and workers’ compensation/employers liability are frequently insured through standalone policies arranged in each country.
Our multinational insurance program specialists are highly experienced at structuring, implementing, and servicing both global and local insurance programs. We can help you critically evaluate the coverage approach that meets your own needs and objectives.
SVP, Risk Management Leader