Yahoo News Marsh & McLennan's (MMC) Arm Ties Up With Triterras Fintech
Marsh & McLennan Companies, Inc.’s MMC unit Marsh (Singapore) recently inked a deal with Triterras Fintech to provide credit insurance via a digitally streamlined process on its Kratos platform.
Triterras is a leading fintech company for commodity trading and trade finance, which launched and operates Kratos, one of the biggest commodity trading and trade finance platforms. This Kratos insurance model is a timely solution as companies are seeking digital tools to adapt to the paradigm shift brought about by COVID-19. Kratos’ commodity traders are now able to gain an easy access to the best insurers, initiate enquiries, sign up, etc. regarding insurance coverage directly through this platform.
With this innovation, Marsh expects the insurance industry to utilize digital tools for boosting operational efficiency as well as improving customer relations.
Notably, Triterras Fintech will be able to improve user experience through this new offering.
Marsh is a global leader in insurance broking and risk management, catering to commercial as well as individual clients with data drive risk solutions and advisory services. It has more than 35,000 colleagues operating in above 130 countries.
This segment constantly takes up initiatives to drive the company’s portfolio and enhance its capabilities. Earlier this year, it acquired Assurance Holdings, Inc., one of the leading independent agencies in the United States. The buyout was mainly executed by the middle market agency unit of Marsh known as the Marsh & McLennan Agency LLC (MMA).
All these initiatives poise the company well for growth.
Zacks Rank and Price Performance
Shares of Marsh & McLennan, which currently carries a Zacks Rank #3 (Hold), have gained 33.1% in the past six months compared with the industry’s growth of 23%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company’s peers, namely Arthur J. Gallagher & Co. AJG, Brown & Brown, Inc. BRO and Aon plc AON have also rallied 17.2%, 21% and 3.8%, respectively, in a year’s time.
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