Marsh & McLennan Arm To Pilot Digital Placement Platform
Zacks Investment Research | Sep 24, 2019 10:24PM ET
Marsh & McLennan Companies, Inc.’s (NYSE:MMC) unit Marsh is piloting Risk Exchange, a digital placement solution, which is powered by blockchain technology. This new platform has the ability to change the scenario of insurance placement process into an interactive digital experience, thereby allowing carriers, clients and even Marsh brokers to provide timely details and feedback on the insurance coverage.
With this pilot, Marsh clients Dow Inc. and SharkNinja will integrate US trade credit policies with the leading carriers AIG (NYSE:AIG) and Euler Hermes and receive real-time updates.
This move is a significant addition to Marsh’s digital transformation, which will enable clients to experience a convenient digitized placement process on the blockchain platform. They would be able to enjoy better transparency and safety as all the invoices, documents, etc. of the parties involved will be digitized. Buying experience is expected to be enriched with this service.
The company has been making concerted efforts to enhance its digital capabilities. Earlier this month, the company’s unit Oliver Wyman signed a new partnership contract with Next Peak, a cyber defense and risk management consulting entity. The agreement allows Oliver Wyman to provide a wider and an advanced array of advisory and operational services to customers with primary focus laid on higher protection levels against international cyber threats.
In May, its Mercer subsidiary launched Mercer Mobility Management Platform, a cloud-based delivery solution, in collaboration with ServiceNow. This unique, cloud-based technology is introduced to lower expenses, risks and complications related to the talent mobility program. It will also boost overall employee experience.
Shares of this Zacks Rank #3 (Hold) company have rallied 19.3% in a year’s time, underperforming its Zacks Investment Research
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