Financial Services Industry
Industry: Email Alert RSS FeedHow brokers won IBM's RM business. (risk management)
National Underwriter Property & Casualty-Risk & Benefits Management, October, 1994 by Howard, Lisa S.
LONDON--Marsh & McLennan and Johnson & Higgins got the business of outsourcing International Business Machines' risk management function partly because they provided a more detailed analysis of recommended programs that clearly identified costs, savings and future cash impact han other brokers did, IBM's risk manager says.
"My advice to brokers is when a client requests a proposal, be it a competitive bid, or just a renewal, address it in financial terms," James J. Conerty, manager, risk and insurance management for Armonk, N.Y.-based IBM, told the National Underwriter. In a wide-ranging, exclusive interview here last week, he discussed, among other issues, how IBM chose the two brokers and why he recommended a move to a centralized approach to risk...
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