Marsh Business Analytics
Published: 31-Dec- 2010 | Product Category: Risk Consulting
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The role of analytics and benchmarking in companies’ risk decisions is more sophisticated than ever, due not only to the vast amount of data available, but also to improvements in technology. Marsh Business Analytics (MBA) employs award-winning tools and experts to help our clients use risk analysis in all facets of their risk management and insurance purchase decision making.
Marsh Business Analytics Highlights
Selecting the right data and analytical tools fosters a better understanding of an organization’s risk, substantiates decision making, leads to innovative solutions and implementation strategies, and helps reduce costs. MBA incorporates analysis and advisory services as we dig deep into the data from your organization and your industry. Our approach draws on data from our extensive Global Benchmarking Portal, actuarial and statistical analyses, financial analysis, decision modeling, and a range of other services. The goal is to help you better understand your risks, evaluate your alternatives, and, ultimately, reach the best decisions with the data and analyses to back them up.
Analysis to Support Decisions
At many firms, there is an increasing expectation from senior leadership that the decisions and proposals presented to them will be backed up by hard data and thoughtful analysis. The MBA approach can support you in a number of areas, including:
- Quantifying risk exposures and developing new ways to reduce the total cost and volatility of risk.
- Understanding new and emerging risks and finding discrepancies between these risk exposures and their management.
- Aligning risk management objectives with business strategies and key performance indicators (KPIs).
- Measuring the financial impact that your overall risk management program has on your company.
- Defining opportunities to reduce cost, lower risk, and increase efficiency.
- Answering requests from regulators, ratings agencies, and other stakeholders for information about your approach to strategic risk management.
- Maximizing your firm’s return on investment in risk management.
Timely On-Demand Benchmarking
Peer analysis allows companies to compare their purchasing trends, pricing behavior, and overall performance to those of their competitors, helping them to better understand the risk solutions they need. MBA’s integrated approach allows us to combine analyses and advisory services with our extensive benchmarking capabilities to help design solutions that meet your unique situation.
Global Benchmarking Portal
Marsh’s Global Benchmarking Portal is built on the strength of our extensive insurance placements. Integration of benchmarking and other electronic placement data fuels the portal, supporting negotiating positions with insurers and helping clients make more informed decisions. The Global Benchmarking Portal’s granularity of data, its level of statistical significance, and depth of the product reports are unmatched in the industry.
Our extensive database includes benchmarking on:
- property, including both “all-risk” and terrorism coverage
- casualty, including auto liability, general liability, workers’ compensation, and umbrella/excess; and
- financial and professional lines
Real-Time Industry Reports
Marsh’s Global Benchmarking Portal includes an industry first—real-time, on-demand industry reports covering:
- historical rate changes;
- changes in limits and retentions;
- level of limits and retentions bought; and
- pricing in relation to exposure.
Product-line benchmark reports are the portal’s strength. With your Marsh representative, you can manipulate and analyze data based on insurance and demographic variables—and instantaneously receive a presentation-ready analysis.
Customized Benchmarking Reports
For companies that lack true industry peers, Marsh’s benchmarking experts find other ways to analyze data. For example, if the company does its own shipping, the transport department could be benchmarked against a trucking company.
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