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Marsh & McLennan's (MMC) Unit Launches Advisory Offering

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Marsh & McLennan Companies, Inc’s (MMC - Free Report) subsidiary Guy Carpenter & Company, LLC recently announced its newly introduced GC Genesis — the expanded advisory offering of its InsurTech. Its aim is to provide customers with the understanding of the dynamic universe of InsurTech by simplifying the entire process. The range of services involves core business functions of the insurance industry such as underwriting, distribution, claims and much more.

With the launch of this new service, the company intends to offer a better and insurer-centric approach to the ever-evolving space of data, analytics and digital solutions. GC Genesis will provide its customers with access to navigate and use InsurTech for stimulating their personal strategic journey. InsurTech has been quite active when it comes to enhancing its portfolio and with this one, the segment would surely help Guy Carpenter’s clients. With these kinds of efforts, the company has immense opportunity to ride high on the back of advanced technologies, hi-tech services as well as products.

The new solutions would also help the carriers achieve a better diversification along with decreasing their expenditure and enriching the performance. This latest offering is also focused on data aggregation techniques, which is used to refine the wide InsurTech landscape and turn the same into easy-to-understand parts. Given the scale and complexity of InsurTech, this would most likely steer the carriers via the vast system as well as help them avail of the right InsurTech partners.

Additionally, the Fitting Process service provides feedback of a company’s current situation such as profit margin, growth graph, cost-reduction plans, etc. With this endeavor, consumers can derive a personalized view of the InsurTech community, which would further offer solutions for diminishing the gap between the present and required capabilities.

Carriers are also allowed to use InsurTech Alliance — a unique partnership between Guy Carpenter and NumeratiPartners LLC. The combination of the former’s risk management expertise along with the latter’s science and engineering expertise enable in enriching InsurTech’s capabilities.

Companies looking for suggestions on InsurTech strategy should avail of both Fitting Process and the InsurTech Alliance as both of them would together help them identify required abilities and match the same with vendors.

Guy Carpenter, partly accounting for the parent company’s Revenues at the Risk and Insurance Services segment, displayed 5% revenue growth on an underlying basis in the last quarter, which is likely to increase going forward.

Shares of this Zack Rank #3 (Hold) company have gained 5.6% in a year’s time, underperforming its industry’s growth of nearly 6.2%.


Stocks to Consider

Investors interested in the insurance industry might take a look at a few better-ranked stocks like The Progressive Corporation (PGR - Free Report) ,Alleghany Corporation (Y - Free Report) and First American Financial Corporation (FAF - Free Report) .

Progressive provides personal and commercial auto insurance, residential property insurance and other specialty property-casualty insurance and related services, primarily in the United States. Sporting a Zacks Rank #1 (Strong Buy), the company managed to deliver an average trailing four-quarter positive surprise of 9.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Operating in the Reinsurance and Insurance segments, Alleghany Corporation offers related services in the United States as well as internationally. The company came up with an average three-quarter earnings surprise of 17.61%.

First American Financial and its subsidiaries provide financial services to its customers. It holds a Zacks Rank #2 (Buy) and pulled off an average four-quarter beat of 8.22%.

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