Marsh & McLennan Companies, Inc.’s (MMC - Free Report) unit Oliver Wyman signed a new partnership contract with Next Peak, a cyber defense and risk management consulting company. The agreement allows Oliver Wyman to provide a wider and an advanced array of advisory and operational services to customers with primary focus on better protection against international cyber threats.
With this deal, Oliver Wyman will be able to enhance its knowhow of cyber threats, security architecture, security functions and cyber resilience. The capabilities consist of different methods to operational capacity building, analysis of targeted attacks and resolving geographical and regulatory cyber perils. The combination of Oliver Wyman’s strategies and design expertise with Next Peak is expected to strengthen front-line protection for customers.
Next Peak seems the perfect partner because of its team of experienced and proficient cyber experts, who can help with security architecture, cyber defense operations, compliance with the law, etc. Next Peak helps companies build own abilities via advisory, risk assessments, stress testing and so on.
This strategic initiative is the right step for the consulting firm as exposure to cyber risks is increasing by the day. Cyber threats are becoming more sophisticated and harmful with time and the market-leading companies are taking actions to safeguard clients against the same. It is believed that the two collaborators on this issue will be able to create a game-changing, business-driven plan to offer protection against cyber hazard.
Shares of this Zacks Rank #3 (Hold) company have rallied 14.8% in a year’s time, underperforming its industry’s growth of 22.3%.
Stocks to Consider
Investors interested in the insurance industry might take a look at some better-ranked stocks like eHealth, Inc. (EHTH - Free Report) , Brown & Brown., Inc. (BRO - Free Report) and Radian Group (RDN - Free Report) .
eHealth offers private online health insurance exchange services in the United States and China. It came up with average three-quarter positive surprise of 167.2%. The stock sports a Zacks Rank #1 (Strong Buy).
Brown & Brown deals with insurance products and services. The company has a Zacks Rank #2 (Buy) and managed to deliver positive results in all the trailing four quarters, the average being 9.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Radian Group engages in the mortgage and real estate services business in the United States. The company pulled off a positive surprise of 14.29% in the last reported quarter. It carries a Zacks Rank of 2.
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