Marsh Executes On Commitment to Rapid Expansion of Marsh Analytics Platform
LONDON | 03 November 2014
Marsh, a global leader in insurance broking and risk management, today announced that its Marsh Analytics Platform (MAP), a comprehensive solution enabling clients to quantify and manage risk financing through a notable combination of data, analytics, and technology, is now backed by an industry leading proprietary global loss database, a trained global team of sales professionals, and hundreds of devices with the industry’s only mobile content-delivery platform, known as iMAP. These key achievements demonstrate Marsh’s ongoing commitment to rapidly implement analytic solutions across the firm globally.
Since being introduced to the market, MAP has enabled clients to leverage a holistic look at risk financing, with some clients experiencing up to 10-to-one returns on investment and 5% to 15% cost savings.
“Our unique combination of data, analytics, and technology has demonstrated clear results for clients who have been able to utilise the MAP solution to generate meaningful returns on investment, cost reductions and a clear understanding of optimal risk financing,” said Peter Zaffino, president and CEO of Marsh. “The MAP solution is fundamentally about giving senior leaders a holistic view of risk that can enable them to confidently move forward with strategic decisions in today’s increasingly uncertain global business environment.”
“Marsh’s approach to analytics focuses on leveraging analytics across the firm to create customised, dynamic, and rapid solutions for clients. With this approach, the evaluation of a company’s individual risk profile provides a framework for more active and confident alignment of risk and capital,” said Claude Yoder, head of Global Analytics at Marsh.
Marsh has used iMAP – the mobile version of the platform – to assist thousands of clients in evaluating risk financing through a dynamic, real-time, and customised experience. The MAP solution applies to companies ranging from large, multinational organisations to smaller local and regional businesses. The full scope of industries served includes aviation, chemicals, construction, energy, financial services, health care, manufacturing, professional services, retail, real estate, and transportation, among others.
“The significant rise in the level and complexity of emerging risks is driving a change across our industry that requires new, forward-looking solutions. The success of MAP is a testament to our ability to address the changing market dynamics,” said John Drzik, president of Marsh Global Risk and Specialties.
Marsh’s Global Loss Data Library now represents over US$300 billion in aggregate claims. It contains data derived from dozens of countries and more than 20 industries, combining claims and placement information to deliver a complete picture of current and emerging trends in risk. With this database, the MAP solution is comprehensively positioned to answer the question of what losses have not happened yet, but could. This forward look is the critical first step in empowering clients to gain a more complete look at risk and optimal risk financing solutions.
With that foresight, combined with careful analysis of a broad range of company-specific financial data points, Marsh can assist a company in determining its unique risk appetite and tolerance positions. Ultimately, clients gain a broader and more transparent evaluation of the key components of risk across the enterprise that can support a determination of the lowest possible “economic cost of risk” based on their own financial profile and outlook.
Marsh’s approach to analytics focuses on leveraging the capabilities of the comprehensive solution across the organisation’s business lines. Since 2013, Marsh has strategically integrated the power of analytics in its business by training hundreds of professionals on the MAP solution across Marsh’s global footprint and product lines. The global MAP infrastructure includes 200 regional sales and technical professionals around the world.
Marsh is a global leader in insurance broking and innovative risk management solutions, Marsh’s 30,000 colleagues advise individual and commercial clients of all sizes in over 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue over US$14 billion and nearly 65,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading firms. In addition to Marsh, MMC is the parent company of Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.