Insurance broking and risk management solutions provider Marsh has launched Bluestream, a cloud-based digital broker platform for the affinity market.
Image: Marsh launches Bluestream. Photo: Courtesy of Markus Spiske/Unsplash.
Marsh stated that Bluestream will provide its affinity clients with a new way to offer insurance products and services to their customers, contractors and employees.
The new platform will integrate with clients’ existing digital channels and user interface and can open be to and connect with the global insurance marketplace through its application program interfaces (APIs).
It will enable clients to choose and scale the insurance program that matches to the needs of their customers, contractors, or employees in each geography, while maintaining a consistent experience across the globe.
The platform can also offer clients advanced reporting and analytics on their insurance programs and access to new technology services including blockchain and machine learning.
Presently, Marsh is accepting beta clients for Bluestream and expects to scale the program for a broader client base next year.
Marsh global risk & digital president John Drzik said: “Bluestream is an innovative, scalable platform that can provide our affinity clients with new insurance solutions.
“While the platform can serve our clients in all industries, it’s particularly relevant for global clients in digitally advanced sectors as well as digital native organizations like sharing economy companies.”
The insurance broker noted that Bluestream has an embeddable user interface (UI) and APIs that allow it to integrate into a client’s user interface and extend their brand. It is a configurable and secure platform where clients can choose single insurance provider or multiple insurance providers to quote, bind, and issue policies.
Bluestream is equipped with self-service analytics dashboard to measure, benchmark and analyze the insurance program’s performance and make informed decisions on how to grow and develop the program.
It offers access to flexible payments engine and has customer service capabilities which can be integrated into a growing set of emerging technology services such as blockchain and chatbot assistants that use artificial intelligence.
Marsh chief digital officer and chief data & analytics officer Sastry Durvasula said: “The new economy is forcing organizations to rethink how they interact with customers who more than ever expect on-demand, individualized, and intuitive digital experiences.
“With Bluestream, we are using cutting-edge technology and advanced analytics to help our clients enrich their customer relationships and grow their business by delivering insurance in a whole new way.”