ORLANDO, Fla.--(BUSINESS WIRE)--STARS, a business unit of Marsh and a leading provider of risk, safety, and claims management software, analytics and services, today previewed STARS | ONE™, an alpha version of its next-generation risk management platform and solution. STARS | ONE™ was launched to an audience of more than 350 global customers and partners at its Annual Client Conference in Orlando, Florida.
STARS | ONE is a new cloud-based end-to-end platform for dynamic risk management that redefines traditional risk management information systems by bringing a new level of insight and interactivity, including access to third-party data and tools. For clients and the industry, these innovations deliver a single, integrated, collaborative, cloud-based system to make more informed decisions in evaluating, mitigating, and managing risk.
“The explosion of ‘Big Data’ in risk, safety, and claims presents vast opportunities for companies seeking to reduce their total cost of risk, but it requires real-time analytics,” said Paul Marushka, President of STARS. “By allowing users to evaluate their data quickly, continuously, and effectively STARS | ONE will enable them to see their total cost of risk in a dynamic way at an individualized level.”
In addition to multi-party collaboration, STARS | ONE (alpha) also features dynamic workflow applications and real-time data and analytics from traditional and new sources like social media.
“By enabling real-time data aggregation, reporting, and exchange clients will be able to make informed, fact-based decisions about their risk management strategies – from any device anywhere around the world. Based on extensive research, feedback and recommendations from customers, partners, and leading market experts, STARS | ONE will enable companies to collaborate seamlessly with third parties on one platform,” Mr Marushka added.
“STARS is in a unique position with this platform and its position within Marsh to help move the market in an entirely new direction,” said veteran industry analyst David Tweedy, Director of Risk Management Information Systems at Bickmore. “Companies are struggling with data coming from multiple sources and being siloed in traditional IT systems and applications throughout the enterprise. They need to make fast, accurate decisions based on relevant, real-time data and insight, and they need a unified, collaborative platform and set of redefined workflow applications to do it.”
Throughout the conference, clients and prospects will have the opportunity to see an early demo of this next-generation risk solution. In addition, the onsite STARS’ Innovation Lab will provide conference attendees with hands-on training on current products and the opportunity to discuss topical risk issues with STARS experts one-on-one.
Customers interested in early adoption of STARS | ONE (alpha) can visit the Innovation Lab for more insight into the capabilities and new technologies integrated into this platform, review the product roadmap and release schedule, and sign up to participate in the STARS | ONE early availability program. General availability is planned for the fall of 2015.
STARS was named the #1 technology platform in the Advisen RIMS Review 2013 and most recently as one of the 2014 “Cloud Top 500 Application Vendors” by Apps Run the World.
STARS, a business unit of Marsh LLC, is the global leader in technology, analytics and data service solutions across risk, safety, and claims management. STARS has approximately 400 employees worldwide and serves more than 750 clients. STARS has the world’s richest database containing more than 60 million claims, and over 300 million transactions. For more information on STARS, visit www.csstars.com or www.starsonealpha.com.com, follow us on Twitter @csstars, and follow us on LinkedIn http://www.linkedin.com/company/cs-stars.
Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 26,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and human capital. With 55,000 employees worldwide and annual revenue exceeding $12 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @MarshGlobal, or on LinkedIn, Facebook and YouTube.