Marsh & McLennan Companies, Inc.’s (MMC - Free Report) unit Marsh is piloting Risk Exchange, a digital placement solution, which is powered by blockchain technology. This new platform has the ability to change the scenario of insurance placement process into an interactive digital experience, thereby allowing carriers, clients and even Marsh brokers to provide timely details and feedback on the insurance coverage.
With this pilot, Marsh clients Dow Inc. and SharkNinja will integrate US trade credit policies with the leading carriers AIG and Euler Hermes and receive real-time updates.
This move is a significant addition to Marsh’s digital transformation, which will enable clients to experience a convenient digitized placement process on the blockchain platform. They would be able to enjoy better transparency and safety as all the invoices, documents, etc. of the parties involved will be digitized. Buying experience is expected to be enriched with this service.
The company has been making concerted efforts to enhance its digital capabilities. Earlier this month, the company’s unit Oliver Wyman signed a new partnership contract with Next Peak, a cyber defense and risk management consulting entity. The agreement allows Oliver Wyman to provide a wider and an advanced array of advisory and operational services to customers with primary focus laid on higher protection levels against international cyber threats.
In May, its Mercer subsidiary launched Mercer Mobility Management Platform, a cloud-based delivery solution, in collaboration with ServiceNow. This unique, cloud-based technology is introduced to lower expenses, risks and complications related to the talent mobility program. It will also boost overall employee experience.
Shares of this Zacks Rank #3 (Hold) company have rallied 19.3% in a year’s time, underperforming its industry’s growth of 24.3%.
Stocks to Consider
Investors interested in the insurance industry might take a look at some better-ranked stocks like MetLife, Inc. (MET - Free Report) , Brown & Brown., Inc. (BRO - Free Report) and Radian Group (RDN - Free Report) .
MetLife works with insurance, annuities, employee benefits and asset management businesses. It came up with average three-quarter positive surprise of 8.4%. The stock has a Zacks Rank #2 (Buy).
Brown & Brown deals with insurance products and services. The company carries a Zacks Rank of 2 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 (Strong Buy) 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 is a Zacks #2 Ranked player.
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