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Business Continuity Management: How to boost its effectiveness

Marsh can help your organization improve existing risk management processes and business continuity plans for enhanced agility and resilience during crises.
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Are your organization’s risk management and business continuity practices sound?

Accurately mapping out your organization’s universe of risks is only the beginning. When organizations partner with risk advisors that have both management and insurance broking expertise, they can extend their risk management capabilities from business continuity planning to incorporate more specialized risk solutions, including risk transfer and allocation based on Maximum Probable Loss (MPL) scenarios and cost of risk.

For the medium- and large-sized organization in particular, specialized risk solutions are essential building blocks for agility and resilience. The risk advisor will derive these bespoke solutions from an objective risk and exposure analysis and implement a tailored BCP across the organization and geographies.

By also calibrating risk and resiliency planning according to corporate strategy, risk advisors and their risk solutions can help organizations maintain a path to sustained growth in line with existing growth plans while providing an actionable roadmap to rebound strongly from crises with shorter recovery periods.

Marsh: the 360 partner for risk management advisory and business continuity planning

Marsh, the world’s leading risk adviser and insurance broker with a 150-year history, deploys consolidated core expertise across risk categories for its clients and delivers a holistic range of specialized solutions for enterprise risk management based on five critical risk elements: people, assets, reputation, operations, and balance sheets.

Why medium- and large-sized organizations partner with Marsh in their risk resilience journeys:

  • Marsh’s approach to enterprise risk management works around many challenges present in organizations today.
  • Marsh’s broad range of competencies enable us to identify and offer the precise fit of risk solutions for large organizations with multiple business units, and serves as a one-stop partner instead of having to work with multiple vendors.
  • Marsh is incentivized to work across borders; individual geographies do not operate as a franchise. The lack of silos allows us to consistently provide high-caliber global expertise and seamless support for clients with multinational operations.
  • Marsh has built-in internal expertise in security risk solutions and risk engineering, elevating its risk management capabilities with the technical advantage essential for larger organizations.
  • Marsh’s proficiency in process implementation ensures that plans that exist on paper can translate into real-world risk resilience.
  • Marsh’s insurance brokerage expertise helps clients calibrate risk with optimal coverage and retention strategies at placement and renewal, according to the clients’ risk profile and tolerance.
  • The strength of Marsh’s claims support and claims advocacy team ensures the highest level of service from insurers and that coverage is interpreted in your organization’s best interests.

Depending on the client, Marsh can leverage the capabilities of its sister businesses under Marsh McLennan to build risk resilience across all aspects of an organization. For instance, Mercer offers solutions to address people risk such as succession planning, competency planning, and redundant headcount mapping.

For organizations that want to benefit from robust enterprise risk management solutions or get assistance in any part of the risk management process, Marsh offers advisory and implementation expertise developed in line with international ISO standards (ISO 22301:2019) for business resilience in the areas of planning, progressive preparedness improvements, incident management, and post-incident reviews.

Marsh’s end-to-end capabilities, which include risk diagnosis, proprietary access to resources for data-informed decision making, as well as insurance brokering, also empower business leaders across Asia to accurately anticipate, adapt to, and mitigate risks in ways that enable their businesses to recover quickly—both operationally and financially—from crises and risk events.

In the long run, clients who leverage the collective capabilities of Marsh and its risk solutions are able to build a solid competitive advantage over companies that have access to a narrower scope of risk management solutions.