STARS becomes Marsh ClearSight
New York, NY | Tuesday, 14 April 2015
Rebranding reflects strategic role of analytics, collaboration, and integrated applications in new era of dynamic risk management
Reflecting the growing importance of analytics, collaboration, and data-driven workflow applications in risk management, Marsh LLC, a global leader in insurance broking and risk management, today announced it is rebranding its STARS business unit and technology platform to Marsh ClearSight.
A leading provider of risk, safety, and claims management software, Marsh ClearSight, under its new brand, is making a strategic move to further integrate its innovative technology with Marsh’s extensive data and analytics resources to help clients consolidate their risk information and better optimize their risk decisions. This move broadens the scope of the business beyond traditional risk management and into the realm of dynamic risk management with real-time data and analytics.
“In Marsh ClearSight, we have brought together the leading edge technology of STARS with the data and analytics depth of Marsh, to provide the risk management community with a comprehensive platform that delivers actionable intelligence,” said John Drzik, President of Marsh Global Risk and Specialties.
Last October, Marsh ClearSight announced the alpha version of the industry’s first risk management platform that brings together integrated applications, analytics, and collaboration tools to help clients better manage their Total Cost of Risk (TCOR) with data-driven insights. This new platform, also named Marsh ClearSight, leverages Marsh’s industry-leading risk database, and the knowledge and expertise of the global Marsh network.
“The innovations in social, mobile, analytics, and cloud technologies offer the opportunity to meet the growing needs of risk management stakeholders in providing real-time information. We have utilized these technologies in developing the Marsh ClearSight software platform – the first collaborative network for the risk management ecosystem with data-driven workflow applications and robust analytics,” said Paul Marushka, President of Marsh ClearSight.
“Marsh ClearSight is in a unique position with this platform to move the market in an entirely new direction,” said veteran industry expert David Tweedy, Director of Risk Management Information Systems at Bickmore. “To better align with the rest of the enterprise, risk management needs to evolve from static process automation and reporting tools to a dynamic approach, powered by data and analytics that helps risk managers engage stakeholders across their organization to make the best possible risk decisions.”
Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 30,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With annual revenue of USD 13 billion and approximately 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a leader in providing risk and reinsurance intermediary services; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting.