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Risk Consulting

It’s more critical than ever for business leaders to manage risk holistically using a combination of innovative strategies, solutions, and expertise. The support of our risk consulting specialists could be key to your success.
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Managing risk in today's environment is complex. It becomes even more complicated when global events such as pandemics, cyberattacks, geopolitical upheavals, or supply chain disruptions affect not only your business and employees, but also your customers, suppliers, and the economies in which you operate.

Faced with more frequent and unpredictable risks, leaders feel pressure from their boards, investors, customers, and regulators to better anticipate and minimize the impact of risks on their business’ bottom line and operations. This is more challenging than ever, as the risks of today and tomorrow are more difficult to identify, understand, quantify, and manage.

Marsh Advisory's Consulting Solutions team helps you continually uncover insight into the most pressing business risks — and build roadmaps for better outcomes. Our team works closely and collaboratively with you to implement changes that impact financial improvement, helping you manage volatility while enhancing your risk management culture and, ultimately, bottom line. Combining specialized expertise and advanced analytics, we enable businesses to spot emerging opportunities with confidence.

We are your trusted partner as you adopt and implement new strategies to help reduce risk exposure, improve profitability, and strengthen organizational resilience.

FAQs

Risk management can be a complex task. Handling this on your own can be overwhelming when you have so many other agenda items to take care of. Utilizing risk consulting services is ideal for any business with limited resources, lacking in-house expertise, or requiring an outside perspective.

Hiring a risk management specialist gives you firsthand assistance with the tools you need to assess your risk and properly define a strategic plan forward to mitigate and reduce your exposures. Furthermore, a risk management consultant can provide advice to help you reduce liabilities across your organization.

In short, risk consulting services give you the opportunity to work directly with a specialist in the industry who can provide the insights needed to prepare your business to be more resilient in the face of a potential issue, large or small, that could impact your operations, your people, and your bottom line.

With risk consulting services, you can have peace of mind that your approach to evaluating and managing risk is built upon best practices and proven methodologies – and by specialists who understand your industry and challenges. A risk advisor can make it easier for you to dive further into your risks and use these insights to your advantage. Here are a few of the many potential benefits of risk consulting:

  • Make informed decisions: A risk consultant understands the types of risks that can impact your business, studies the latest risk trends and data affecting your industry, and has experience developing mitigation and management strategies and plans. This knowledge puts you in a better position to plan for unforeseen events and advise your business on optimal risk management strategies.
  • Effectively communicate risk goals and strategies: Risk management and mitigation starts with conversing about the problem and potential solution. Hiring a risk advisor means getting involved in an ongoing conversation that puts your entire team on the same page and makes it easier to work together to form a solution.
  • Increase productivity: Many risk departments are being forced to do more with less. Risk consultants can act as an extension of your team and give you the ability to scale up or down based on your business needs.
  • Improve operations: Risk consultants can audit your existing risk management processes, identify inefficiencies, and create plans to streamline them.

Other benefits include meeting compliance requirements, making operational improvements, and more. 

By definition, a risk management consultant is someone who assesses the risks of a business, gives recommendations based on their needs, and provides resources to implement the recommendations.

Marsh’s risk consultants are typically available to cover these areas:

  • Property engineering and loss control
  • Valuation services
  • Supply chain
  • Regulation and compliance issues
  • Health and safety consulting
  • Ergonomics
  • Loss prevention and mitigation
  • Cybersecurity
  • Enterprise risk management
  • Business continuity management
  • Crisis management
  • Claims management