STARS, a business unit of Marsh that provides risk, safety, and claims management software, analytics and services, previewed STARS | ONE, an alpha version of its next-generation risk management platform to 350 global customers and partners at its recent annual client conference in Orlando.
STARS | ONE is a cloud-based end-to-end platform for risk management includes access to third-party data and tools. It delivers a single, integrated, collaborative, cloud-based system to make informed decisions in evaluating, mitigating and managing risk.
This platform also enables clients to make decisions from any device.
The explosion of “Big Data”in risk, safety and claims presents vast opportunities for companies seeking to reduce their total cost of risk, but it requires real-time analytics, according to Marsh. By allowing users to evaluate their data quickly, continuously, and effectively STARS | ONE will enable them to see their total cost of risk in a dynamic way at an individualized level, the company said in a statement.
STARS | ONE will enable companies to collaborate seamlessly with third parties on one platform.
In addition to multi-party collaboration, the product also features dynamic workflow applications and real-time data and analytics from traditional and new sources including social media.
General availability is planned for the fall of 2015.
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