Broker WorkBench processes placement data and assists negotiation and binding, with Marsh targeting a drop from two-to-four weeks to days or hours, though brokers still approve every recommended placement.
Marsh announced Broker WorkBench, an AI-powered platform for its brokers that processes placement data, supports matching and transmission of requests, and assists with negotiation and binding workflows. Marsh says brokers still approve every recommended placement. The company is targeting a reduction in placement time from two to four weeks down to days or hours; the methodology behind that target is not disclosed.
The source's own statement, as linked above. Nothing beyond it has been independently checked by us.
This is Marsh's own target for London market placements, not a measured result and not a description of a US commercial placement workflow.
No direct effect on a US book yet. Agencies and carriers with London market exposure, placed through Lloyd's or excess and specialty lines, should watch whether WorkBench extends to US-originated submissions.
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