Marsh & McLennan (MMC) Unit, Socrates.ai Form Collaboration
Marsh & McLennan Companies, Inc.’s MMC arm Mercer forged an alliance with employee experience platform Socrates.ai to aid Mercer Belong customers. Mercer is a leading global provider of consulting, outsourcing and investment services and its Belong platform now has more than 150 customers. Per the partnership terms, the Mercer Belong platform will now include Socrates.ai chat functionality.
Mercer Belong will be able to cater as the front door to its Belong customers’ other applications like Workday, ServiceNow, etc.
The Socrates.ai Return on Experience Platform is one-of-a-kind, enterprise-grade employee experience platform, which provides a one-stop solution to employees for asking or doing anything from digital channels like Slack or MS Teams. Socrates generally processes the federated sources of content in a firm and replies to queries with a single answer.
Socrates even customizes experiences as per individuals and delivers a simplified employee experience. This feature optimizes a firm’s investment in its current infrastructure while eradicating calls to the call center and enabling enterprises to enhance consumer experience from the point where Single Sign-On (SSO) falls short.
The combination of Mercer and Socrates brings together state-of-the-art technology and digital transformation services to leave an impact on the customers’ return on investment and employee experiences.
Earlier this year, this MMC arm also launched Skills-Edge, an innovative platform that enables employers to decide the most skills required for their future as well as develop a talent strategy. All these initiatives help the unit boost its portfolio.
In the first nine months of 2021, revenues from Mercer increased 7.2% year over year. This segment is consistently performs well owing to Wealth, Health and Career. Apart from its Mercer segment, Marsh & McLennan has been gaining from its strategic measures, growing revenues on the back of diverse product offerings and the Strong Risk and Insurance Services segment.
Shares of this currently Zacks Rank #3 (Hold) insurance broker have gained 43.6% in a year’s time, outperforming its industry’s growth of 23.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Stocks to Consider
Some better-ranked stocks in the insurance space are Athene Holding Ltd. ATH, Brown & Brown, Inc. BRO and Ryan Specialty Group Holdings Inc. RYAN, all holding a Zacks Rank #2 (Buy) at present.
Athene offers various insurance and reinsurance retirement products across the United States and Bermuda. ATH managed to come up with a trailing four-quarter surprise of 46.12%, on average.
Brown & Brown markets and sells insurance products and services, primarily in the United States, London, Bermuda and the Cayman Islands. BRO managed to deliver a trailing four-quarter surprise of 18.33%, on average.
Ryan Specialty Group offers specialty products and solutions for insurance brokers, agents and carriers. RYAN delivered a trailing four-quarter surprise of 41.18%, on average.
Shares of ATH, BRO and RYAN have gained 90%, 46% and 37.9%, respectively, in the past year.
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Marsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis Report
Brown & Brown, Inc. (BRO) : Free Stock Analysis Report
Athene Holding Ltd. (ATH) : Free Stock Analysis Report
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