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MARSH GLOBAL CONSUMER BUSINESS RECEIVES 2007 E-FUSION AWARD

 

NEW YORK, December 12, 2007 — The Global Consumer Business of Marsh is this year's recipient of the E-Fusion Award, which recognizes firms in the insurance industry for innovative, business-focused uses of technology. The award is presented by the A.M. Best Company, which convenes a panel of independent judges to review entries and finalists.

In naming Marsh, the judges cited the Global Choice Auto platform as a unique solution to provide multiple automobile coverage quotes on a real-time basis.

According to A.M. Best, entrants were judged on several key criteria of business value, including: return on investment to the organization, return on relationship to the user, return on recognition to the insurance industry, and technical complexity, innovation, and quality.

Return on investment for Marsh was measured in terms of sales volume, quote-to-bind rates, and even improved loss ratios. Jim Lee, a managing director of Marsh, and Praveen Kotha, senior vice president, led the development team for Global Choice Auto.

The platform provides U.S. auto shoppers with up to six real-time, bindable quotes from quality auto insurers in less than 10 minutes. Outside the U.S. in countries including Russia, Romania, and Australia, auto dealers use the system to sell branded insurance policies to car buyers in the showroom.

Global Choice is Marsh's response to growing consumer demand for greater selection in auto insurance and better tools to compare policies' costs and benefits. The technology was designed to meet this need with up to six real-time, bindable quotes provided in less than 10 minutes. This platform also satisfies buyers want to conduct their own research but want to access a representative for final guidance.

Jim P. Lee, CIO of Marsh Consumer said, "Global Choice is a strategic technology platform that provides significant value for end-users and program sponsors, and demonstrates Marsh’s ability to deliver value-added solutions driving change in the marketplace."

Henry (Hank) Allen, CEO of Marsh Global Consumer added, "Besides selection, one of the best qualities of this solution is its applicability to a variety of sales situations. With global applicability, the technology is able to meet the needs of individual consumers on the internet, to employees who access it as a sponsored employee benefit, to auto dealers in the showroom, and to agents serving the needs of their customers."

Marsh Global Consumer designs, implements, and manages insurance, risk management, and financial service programs for private clients and sponsoring entities. Marsh Global Consumer is an industry leader in program management, marketing, processing, and administration. Earlier this year, the Consumer business earned Marsh distinction as the first U.S. insurance broker to receive five J.D. Power and Associates awards for providing "An Outstanding Customer Service Experience."

Marsh, the world’s leading insurance broker and risk advisor, has 26,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with more than 54,000 employees and approximately $11 billion of annual revenues. MMC also is the parent company of Guy Carpenter, the risk and reinsurance specialist; Kroll, the risk consulting firm; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy.  MMC's stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. MMC's Web Site is www.mmc.com.

For J.D. Power and Associates Certified Call Center ProgramSM information, please visit www.jdpower.com.  For J.D. Power and Associates Certified Call Center ProgramSM information, please visit www.jdpower.com.

Media Contact
Al Modugno
212-345-2448

 

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