As part of our property insurance services, Marsh can conduct a strategic review of your existing property insurance program, and offer a second opinion to identify coverage enhancements and premium savings.
Marsh’s strategic review offers multiple business benefits, including:
- Identifies optimal structure, terms, and rates.
- Promotes program innovation and best practices.
- Offers thought leadership from Marsh experts.
- Demonstrates available resources and services.
- Assesses and verifies your program’s competitiveness.
A team of experts
Based on your unique risk profile, we’ll hand-select your Marsh review team from a field of experts that may include:
- Coverage experts.
- Global placement specialists.
- Industry practice leaders.
- Property strategists.
- Risk control consultants.
- Risk financing analysts.
What the Review entails
Marsh’s strategic review process encompasses three discreet components:
- Values Stratification: Maps and “bands” reported values to aid in determining the program structure.
- Natural Catastrophe Modeling: Models earthquake and windstorm loss probabilities.
- Industry Benchmarking: Provides peer intelligence on limits, deductibles, rates, and services.
- Risk Bearing Capacity: Analyzes your capacity to retain risk based on actuarial modeling.
- Policy Audit: Discovers and addresses coverage gaps and limitations.
- Policy Limits Review: Sets the program capacity needed to achieve balance sheet protection.
- Deductible Assessment: Examines loss history and market tendencies to avoid “dollar trading.”
- Rate Analysis: Projects a competitive rate achievable in the current marketplace.
- Structure Options: Provides potential advantages and disadvantages for multiple program alternatives.
- Program Features: Highlights the benefits of various program nuances.
- Potential Participants: Identifies carriers that will compete for your business.
- Key Recommendations: Outlines ways to achieve savings and improve coverage.
- Cost Projections: Forecasts the costs associated with our design solutions.
- Timeline: Suggests schedule for implementation of recommendations.
- Client Services Survey: Compares your current services with available broker services.
How it works
Completing your strategic review is generally a three-step process:
- Operations Overview: We meet with you to gain deeper understanding of your business.
- Exposure Information: You provide us with a statement of values, five-year gross loss history, copy of your current policies, and loss control reports.
- Presentation Opportunity: Once we receive your exposure information, we report back to you within 30 days. We present our review and recommendations in a formal oral presentation.