Marsh Global Analytics (MGA) helps organizations to filter through the vast amounts of available data and find risk information to help guide their organizations’ strategic risk planning.
The principal tools we employ include data from our extensive Global Benchmarking Portal; actuarial, statistical, and financial analyses; decision modeling; and the Marsh Analytical Platform (MAP).
Marsh created MAP and a new mobile-based application, iMAP, to meet this need. iMAP gives you easy access to Marsh’s industry-leading analytics, enabling you to better understand volatility and ultimately drive better strategic risk management decision making.
With the award-winning iMAP application, you can harness data together with Marsh’s proprietary benchmarking information to identify risks and their potential impact, determine risk tolerance and appetite levels, simulate loss potential for your unique risk profile, and dynamically model risk-transfer alternatives to evaluate effectiveness and identify optimal solutions. Essentially, iMAP allows you to lower your total cost of risk (TCOR).
The new platform and application are supported by Marsh Global Analytics’ (MGA) three Centers of Excellence:
Risk Economics – Using sophisticated analytics as the basis for risk financing decisions has become increasingly important to managing today’s businesses. MGA Risk Economics provides risk financing optimization (RFO), analyzing optimal risk transfer and insurance structures to lower total cost of risk, thereby helping you to structure insurance programs in the most economically efficient manner while meeting the risk tolerance goals of your organization as a whole.
CAT Modeling – Earthquakes, hail, floods, typhoons, hurricanes, and tornadoes are among the most catastrophic forces of nature. Terrorism and pandemic are wildcards that could be costly when they strike. In many countries and jurisdictions, employers’ liabilities such as workers’ compensation following a disaster often exacerbates losses. CAT modeling uses industry-leading modeling software to evaluate exposures to help you to better understand and quantify these risks.
Benchmarking – Benchmarking is one of the key tools leaders use to make informed risk management decisions. At the core of many of our risk analytics services lies our comprehensive benchmarking database. Marsh’s benchmarking experts have created a dedicated global benchmarking portal, where we can analyze thousands of transactions to depict insurance structures for peer groups and market trends in purchasing and pricing. We can create custom benchmark reports for you based on this powerful data, which supports negotiations with insurance carriers and helps you to make more informed decisions.
Investing in Analytics
For the past several years Marsh has significantly increased its investment in analytics and it shows. Several factors distinguish Marsh’s analytics services:
- Comprehensiveness of data: MGA’s continually growing database of policies includes more than 200,000 policies across multiple regions worldwide. MGA provides data covering more than US$75 billion in premium placements, US$10 trillion in limits, and US$45 trillion in insured value across all the major coverage lines.
- Technologically advanced: Marsh’s data, our analytical approach, our tablet app powered by the MAP application, and overall investments in client-centric technology create a best-in-class platform for advising clients on their risk financing options.
- Commitment to innovation: MGA provides leading-edge services. Two examples: Marsh offers risk-adjusted benchmarking, which adjusts changes in pricing by taking into account other factors such as changes in retentions, limits, and risk profile. Our Risk Financing Optimization solution enables finance executives to thoroughly understand the cost of risk — including its volatility.