Marsh McLennan unveils new AI tool

Marsh McLennan unveils new AI tool | Insurance Business Australia

Technology

Marsh McLennan unveils new AI tool

Solution aims to transform supply chain risk management

Technology

By
Roxanne Libatique

Marsh McLennan has introduced Sentrisk, an AI-enhanced platform designed to bolster the management of global supply chain risks.

This initiative is a response to increasing vulnerabilities in global supply chains, which are impacted by rising geopolitical tensions and climate-related challenges affecting sectors like food production and logistics.

What is Sentrisk?

Developed in collaboration by Marsh McLennan’s subsidiaries, Marsh and Oliver Wyman, Sentrisk incorporates advanced technological solutions such as AI for mapping supply chains and geospatial satellite imagery. This approach allows companies to extensively map their supply networks and formulate customised strategies for risk mitigation, management, and transfer based on their specific business requirements.

Sentrisk offers deep analytical insights, enabling companies to pinpoint vulnerabilities at detailed levels, including individual sites, suppliers, or components, Marsh McLennan said. It provides a thorough assessment of supply chain risks, alerts about potential disruptions near vital assets, and access to risk advisory services from Marsh and Oliver Wyman.

The platform covers a range of risks including natural hazards, geopolitical factors, climate impacts, reputational threats, and structural risks like dependence on a single supplier or geographic concentration.

“Rising geopolitical tensions, and other risks such as the impact of climate events, mean that supply chain vulnerabilities are now among firms top concerns,” said Martin South, president and CEO of Marsh. “With Sentrisk, clients can use AI technology to make better informed decisions at pace to improve their resilience to major shocks.”

“Through Sentrisk, clients are able to gain greater perspective to inform their strategy,” said Nick Studer, president and CEO of Oliver Wyman Group. “Through knowledge of where risks live in their supply chain, they can better anticipate risks in response to global events and take proactive measures before disruptions occur.”