With the global credit crisis, new regulatory measures, and additional government intervention, financial institutions are under increased pressure to put risk management at the forefront of their businesses. But many financial institutions are still managing risks with a fragmented view through manual and time- consuming efforts resulting in higher loss costs, data security issues, risk of fraud, potential regulatory fines, and decreased consumer confidence. With the right technology, financial institutions can overcome this and ensure their capital is allocated properly and responsibly.
Marsh ClearSight helps Financial Institutions allocate their capital properly and responsibly. Annually, Marsh ClearSight provides exposure, claims, policy, and incident management software solutions to more than 100 Financial Institution clients driving down TCOR through expense savings between 30% to 50%. This has resulted in productivity savings between $25,000 and $200,000 for clients who managed risk reports in spreadsheets, collected incidents using paper forms, or consolidated claims from multiple carriers without an automated process.