CHICAGO, March 1, 2012 –
Marsh ClearSight, a recognized leader in claims and risk management information systems (RMIS) and a business unit of Marsh, has received a 2012 Innovation Award from Business Insurance.
Marsh ClearSight received the award for its Risk Response™ product, which automates the monitoring of, and response to, external risk factors that could affect an organization’s properties and assets, including weather, fire, and earthquake events.
“Many organizations are concerned about property risks from natural hazards—particularly following 2011’s significant catastrophes—but are challenged by a lack of resources to efficiently monitor worldwide news stories and events and immediately determine their relevance to the organization,” said Bill Diaz, President of Marsh ClearSight. “Marsh ClearSight’ Risk Response™ allows a risk manager to automate that process, improving the effectiveness of risk identification and mitigation efforts and potentially helping the organization avoid significant and costly insurance claims. We’re proud to be recognized with this Innovation Award, which reflects the commitment of Marsh ClearSight to delivering effective and inventive risk management solutions to our clients.”
Risk Response™, a fully integrated product on the award-winning STARS™ Enterprise risk management information system (RMIS) platform, monitors all National Oceanic and Atmospheric Administration (NOAA) derived events within the United States and U.S. Geological Survey (USGS) derived earthquakes, automatically determining which may have impact on an organization. When an event is detected that meets certain criteria—as determined by a company’s risk manager— Risk Response notifies risk management stakeholders, generates and assigns an appropriate risk assessment audit, and collects on-site data so that it can be integrated back into the system.
In its third year, the Business Insurance Innovation Awards recognize leadership, inventiveness, and ingenuity in products and services designed for professional risk managers. An independent panel of judges, comprising active risk management professionals, judged the entries on the basis of originality, relevance to risk managers, effectiveness, presentation, and results achieved.