With continued movement towards globalization, automation, and outsourcing, manufacturing and automotive companies are under increased pressure to positively impact production and lower costs through proactive risk management. But many companies are still assessing risk reactively resulting in higher loss costs, potential regulatory fines, and increased risk to supply chain and business continuity.
Marsh ClearSight helps manufacturing and automotive companies improve safety while increasing production. Over the last year, 52 manufacturing and automotive clients used Marsh ClearSight to reduce claims frequency and severity by an average of 10% through incident and claims analysis that prevented accidents from happening, proactive assessments that ensured safety standards were being followed, and faster reporting of claims to reduce lag time. This has resulted in an estimated savings of approximately $60,000 for every 100 average incurred claims.