Addressing Risk Prevention and Insurance Needs

Insurance CIO Outlook | Friday, April 19, 2019

Marsh & McLennan Agency LLC was set up in 2008 as a subsidiary of Marsh as a middle market platform. It extended Canada’s domestic footprint in 2015. MMA provides medium-sized businesses throughout North America with business property, victims, personal lines, and employee benefits. MMA is a wholly owned subsidiary of Marsh to serve the middle-market companies in the United States’ risk prevention and insurance needs. The firm offers risk management and employee benefit support to public and private companies that help them to flourish. They offer their customers the best services to meet their growing needs. MMA is the ninth largest insurance broker with annualized revenue of approximately $1.2 billion.

In its sister companies under the banner of Marsh & McLennan Companies (MMC), MMA has access to broad resources and solutions. Although MMA does not integrate the companies with Marsh, in those cases where collaboration between MMA and Marsh is compelling, they use the value of their respective capabilities and intellectual capital.

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As a global market leader in insurance broking, Marsh’s 30,000 collaborators advise clients of all sizes in more than 130 countries. Marsh is the world’s leading professional services firm. The company has over $14 trillion in annual revenues, and close to 65,000 employees around the world, helping customers sail through four leading companies in an increasingly dynamic and complex environment. It is also the parent of Guy Carpenter, Mercer, and Oliver Wyman.

Today, MMA has announced its decision to acquire Bouchard Insurance, Clearwater, Florida. Bouchard Insurance specializes in business and personal insurance and focuses on the establishment of the first-aid approach for clients across organizations. The business insurance division of the company is specialized in its business insurance consultancy approach. The company has teams that are able to meet the specific needs of its customers in order to place the most appropriate insurance products. Their personal services range from individual home insurance and auto insurance policies through its private customer team to full portfolio management. The agriculture industry, community organizations, construction, education, health care, hospitality, PEO or Staffing, and the social service industry form part of the industries that the company serves.

As part of MMA, Bouchard Insurance will maintain its existing offices and operate as Bouchard Insurance. At the close, the operation will continue to be led by Doug Bishop, who has been the CEO of Bouchard since 2009.

 Few InsurTech Companies: ACD, CHSI Technologies, Genius Avenue

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