Insurance broker and risk advisor Marsh have announced the launch of a new estate analytics product. The new product aims to help clients around the world manage their property risks by transforming a slow, manual process into digital knowledge with real-time, actionable insights.
The new product, part of Marsh’s Blue digital analytics suite, digitises clients’ primary risk data – including construction, occupancy, protection and exposure data – and uses artificial intelligence and machine learning to identify anomalies and other issues to boost that data quality.
By feeding the data into additional Marsh analytics tools, such as catastrophe modelling and risk finance optimisation, clients can view and quantify their property risks in real-time and assess risk mitigation, retention and transfer options, the company said.
Using the equipment, clients can:
Quickly assess the impact of changing property portfolios on their risk profiles.
Determine if assets are likely to be impacted by hazards related to natural emergencies
Easily identify and prioritise risk mitigation policies that have the greatest impact on their portfolio.
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“Today’s ever-evolving and volatile risk landscape requires more than just static views for risk planning – it requires a dynamic solution that enables business leaders to respond to an altering environment in real-time, anchored by data insights,” said Mike Rouse, US property practise leader at Marsh. “Through improved data quality and enhanced modelling accuracy, Marsh is enabling clients to reduce uncertainty and make more accurate informed property risk decisions.”