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XA combination of business insights and industry-leading analytics technology yields a comprehensive view of risks — and a total solution to manage them.
The novel coronavirus (2019-nCoV) and other disease outbreaks pose social and economic risks that businesses can address through appropriate risk transfer and mitigation strategies.
FOOD FOR THOUGHT
There are a variety of comprehensive measures business can take in order to understand, measure and address cyber risks.
TAKING STOCK
Leveraging technology can offer many benefits to food and beverage companies. However, these technologies also come with many potential risks that companies must be aware of to avoid catastrophe.
Retail, food, and beverage companies must take a strategic approach to cyber risk to help manage the impact on operations during and after a cyber incident.
Record catastrophe losses in 2017 and 2018 are leading to higher insurance prices, pushing food and beverage companies to seek alternative solutions.
The US retail, wholesale, food and beverage industry is in a period of dramatic disruption.
In the retail space, companies are positioning or reinventing themselves to meet the needs and wants of the “empowered” consumer. As companies re-think their physical presence and respond to increasing e-commerce sales, jobs are being shifted or lost altogether. Supply chains are being stretched. Network interruptions have serious operational and financial consequences .
A similar experience is occurring in the restaurant industry as customers increase their demand for quick and convenient food delivery services, “clean” ingredients and the use of technology and AI throughout their operations.
As the food and beverage industry becomes increasingly competitive, companies are becoming more dynamic to align their business models with a more sophisticated customer base. These changes include incorporating global supply chains and investing in technology including block chain, autonomous trucks, and more.
These new ways of thinking and approach to business will have significant benefits for the Retail/Wholesale, Food & Beverage industries but also come with significant risk, including:
cyber exposure, employee and customer injury, disruptive natural and man-made events, employment practice liabilities, product contamination, and meeting a myriad of legislative and regulatory demands
Marsh’s Retail/Wholesale, Food & Beverage Practice provides the deep expertise needed to manage today’s risks and identify those that are on the horizon.
Using industry-leading analytics and benchmarking tools that give your senior leaders a holistic view of risk, our risk practice and consulting teams can help you move beyond simply managing risk to unlocking opportunity.
The result? A risk management program that helps you reduce total cost of risk, better allocate capital, protect your balance sheet, and improve overall profitability.
Customers today demand the “four C’s” – Convenience, Choice, Cost and Community. . As customers shop more online, retailers must reexamine business models, optimize supply chains, and create opportunities for positive engagement with their customers. Leveraging technology and automation are crucial to optimize performance. These changing consumer behaviors expose retailers and wholesalers with multiple locations, to a wider range of risks including third-party risks associated with their services. Marsh offers customers in the retail/wholesale industries solutions to address the many risks they face such as:
As risk advisor and consultant to upwards of 600 restaurant companies, including 9 of the Nation’s Top 10 Chains. Marsh’s Restaurant Center of Excellence delivers risk management solutions for challenges such as: Employee injury.
Guest Incidents
Marsh provides risk management solutions for more than 375 food and beverage clients including manufacturers, processors, wholesalers and distributors of fresh and packaged food and drinks worldwide, including half of the top 100 food and beverage companies in North America as ranked by foodprocessing.com. Among the risk management services we provide are:
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