Marsh, a global insurance broker and risk management company, launched a new version of its Marsh Analytics Platform, an application for quantifying and managing risk financing through a combination of data, analytics and technology.
Marsh Analytics Platform (MAP) now is backed by Marsh’s Global Loss Data Library, a trained global team of sales professionals and iMAP, a mobile content-delivery platform. With the application, Marsh claims some clients have experienced as much as 10-to-one returns on risk financing investments and 5 percent to 15 percent cost savings.
“Marsh’s approach to analytics focuses on leveraging analytics across the firm to create customized, 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 to help a range of clients, from large, multinationals to smaller local and regional businesses, evaluate risk financing. Industries served include aviation, chemicals, construction, energy, financial services, health care, manufacturing, professional services, retail, real estate and transportation.
Marsh’s Global Loss Data Library now represents more than $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 picture of current and emerging trends in risk. With this database, MAP is positioned to answer the question of what losses have not happened yet, but could, which, according to Marsh, is the first step to empowering clients to gain a more complete look at risk and optimal risk financing solutions.
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