Because quality, up-to-date benchmarking data is critical to making informed risk management decisions, we have created a dedicated global benchmarking portal where our colleagues can create custom benchmark reports for you based on the latest available data. With new services such as benchmarking analysis via our mobile analytical platform and risk-adjusted benchmarking, we have the data you need to support your negotiating positions with insurers and make more informed decisions.
Our rapidly growing benchmarking database includes information on more than 200,000 policies across multiple regions, including the US; Europe, Middle East, and Africa; Latin America and the Caribbean; and Asia-Pacific. Marsh Specialty and Global Placement provide data covering more than US$75 billion in premium placements, US$10 trillion in limits, and US$45 trillion in insured value. This extensive database includes benchmarking for:
- Property, including both all risk and terrorism coverage.
- Casualty, including auto liability, general liability, workers’ compensation, and umbrella/excess.
- Financial and professional lines — directors and officers liability, errors and omissions liability, fidelity/crime, fiduciary liability, and employment practices liability.
- Medical professional liability.
- Environmental coverage lines such as pollution legal liability, contractors pollution liability, and remediation.
In addition to comprehensiveness of data, several factors set our benchmarking services apart:
- On demand, real-time data you can trust: Our benchmarking portal is integrated with our placement databases, enabling us to offer real-time reports based on client purchasing trends. We are also the industry’s leading data consolidator and ensure that the quality of demographic data for each peer is thoroughly checked against internal and external business intelligence databases.
- Risk-adjusted benchmarking: Put simply, benchmarking data alone doesn’t always tell the whole story. For example, directors and officers liability coverage was recently changing from side A, B, and C coverage to side A only. A significant amount of coverage was being removed from policies, so if one looked only at rate changes, they could conclude rates were falling though they were actually rising, when the changes in policies were taken into account. Marsh also employs risk-adjusted benchmarking when necessary to provide you with a more complete depiction of rate changes.