Marsh, a unit of Marsh & McLennan Companies, has unveiled a new real-time, on-demand industry benchmark reporting service available to clients and prospects.
According to Marsh, the new service which is available through its global benchmarking portal, provides clients with real-time benchmarking analytics on purchasing and pricing trends in the US for around 20 industry groups, and also cross-industry reports on property, casualty, and financial and professional lines.
The company said that its portal contains information on around 90,000 policies, covering $50bn in premium placements, $4 trillion in limits, and $15.5 trillion in total insured value (TIV).
In addition, new service allows the company to provide clients and prospects, in every industry and coverage line, with real-time reports on rate changes, shifts in limits and retentions, levels of limits and retentions bought, and pricing in relation to exposure.
Dean Klisura, US risk practices leader at Marsh, said: “To effectively manage risk in today’s ever-changing environment, risk managers need to make data-driven decisions, based on timely and relevant data.
“With the introduction of real-time, on-demand industry reports, Marsh continues to provide our clients and prospects with the industry’s best information and analysis, enabling them to optimize their risk management and insurance programs.”