Advanced Insurance Broking Assignment 2

Context

This paper analyses the company I am most familiar with, Marsh & McLennan Companies, which is a UK based global leader in innovative risk management and insurance for risks, people and strategy (Marsh & McLennan Companies, 2). It comprises of Marsh (used in this case), Oliver Wyman, Guy Carpenter and Mercer companies, which all aim at enabling the client build long-term business success, solve problems and challenges, and grab opportunities in the currently active operating environment.

From its inception in 1871, the company operated in a single office before expanding organically and globally and became among the first insurance brokers to buy insurances on behalf of the clients instead of selling insurances (Marsh & McLennan Companies, 1). It also established the idea of self-insurance, which had risk mitigation actions to manage exposure.

The company has approximately 35,000 colleagues worldwide and 1,500 employees in its 45 locations in the United Kingdom. The...