Alaric Lee
Head of Sales
Managing risk in today's environment is complex. It becomes even more complicated when global events such as pandemics, cyberattacks, geopolitical upheavals, or supply chain disruptions affect not only your business and employees, but also your customers, suppliers, and the economies in which you operate.
Faced with more frequent and unpredictable risks, leaders feel pressure from their boards, investors, customers, and regulators to better anticipate and minimize the impact of risks on their business’ bottom line and operations. This is more challenging than ever, as the risks of today and tomorrow are more difficult to identify, understand, quantify, and manage.
Marsh Advisory's Consulting Solutions team helps you continually uncover insight into the most pressing business risks — and build roadmaps for better outcomes. Our team works closely and collaboratively with you to implement changes that impact financial improvement, helping you manage volatility while enhancing your risk management culture and, ultimately, bottom line. Combining specialized expertise and advanced analytics, we enable businesses to spot emerging opportunities with confidence.
We are your trusted partner as you adopt and implement new strategies to help reduce risk exposure, improve profitability, and strengthen organizational resilience.
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Essentially, a risk advisor learns about the pressures, risks and opportunities surrounding your specific business and the wider market. Everything from political risk to financial crime is analyzed in the right perspective, showing how it may affect what you do. Research and analysis of critical data is a major element of risk advisory services, but so is deep industry knowledge, as well as the ability to collect and draw insights from complex information. It is essential for organizations hoping to anticipate and mitigate risk and develop risk management strategies in the face of turbulence. You can plan ahead for risk.
Typically, we look at an enormous range of risk – from enterprise risk management to specialist financial, manufacturing, supply, software, and environmental concerns. Thanks to our size and global reach, Marsh has wide ranging solutions to counter risk at every turn. Yet some of our more persistent areas of attention include:
- Property engineering and loss control
- Valuation services
- Property risk modeling
- Risk quality assessment
- Risk management and claims advocacy
- Casualty risk
- Workforce solutions
- Employee management
- Workers compensation
- Regulation and compliance issues
- Health and safety consulting
- Ergonomics
- Loss prevention and mitigation
- Cybersecurity
- Enterprise risk management
- ESG risk management
- Supply chain
- Business continuity management
- Crisis management
- Claims management
- Captives management
With risk consulting services, you can have peace of mind that your approach to evaluating and managing risk is built upon best practices and proven methodologies – and by specialists who understand your industry and challenges. A risk advisor can make it easier for you to dive further into your risks and use these insights to your advantage. Here are a few of the many potential benefits of risk consulting:
- Make informed decisions: A risk consultant understands the types of risks that can impact your business, studies the latest risk trends and data affecting your industry, and has experience developing mitigation and management strategies and plans. This knowledge puts you in a better position to plan for unforeseen events and advise your business on optimal risk management strategies.
- Effectively communicate risk goals and strategies: Risk management and mitigation starts with conversing about the problem and potential solution. Hiring a risk advisor means getting involved in an ongoing conversation that puts your entire team on the same page and makes it easier to work together to form a solution.
- Increase productivity: Many risk departments are being forced to do more with less. Risk consultants can act as an extension of your team and give you the ability to scale up or down based on your business needs.
- Improve operations: Risk consultants can audit your existing risk management processes, identify inefficiencies, and create plans to streamline them.
Other benefits include meeting compliance requirements, making operational improvements, and more.
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