MARSH

28 needs to “ take risk data from multiple sources and use that to inform and quantify new risks ”. On top of this , companies should go back to basics . “ We find that just by getting people in a room with a clean whiteboard you can talk about new products and potential loss scenarios – it ’ s critical to the process ,” he says .

Marsh can help firms navigate this tricky terrain . As the world ’ s largest insurance broker and one of the largest brokers specifically for CMT companies , it has a wealth of experience and insights that it can share with its clients . “ We work with thousands of other companies and industries across the globe ,” highlights Quigley . “ With all client confidentiality maintained , we can take learnings and insights from those companies and apply those to CMT companies . We can help them think about what the loss impact could be if their technology fails to perform . Thanks to this experience , we have innumerable data points which we can use not only to brainstorm but to model , quantify and develop solutions for a whole set of emerging risks .”

As well as having the analytical strength to aid risk management , Chao believes that Marsh ’ s talented team also gives the global broker an edge . “ For risk consulting , we have qualified risk engineers ,” he says . “ The majority of our engineers come from the industry and so they have the know- how to craft the business contingency plan for the client .” With annual revenues of over US $ 6bn and more than 30,000

FEBRUARY 2019