Marsh has announced the launch of a digital incubator that will focus on developing new products and business models. The incubator, Marsh Digital Labs, was launched within Marsh’s larger Digital, Data, and Analytics organisation.
“We see artificial intelligence, blockchain, the Internet of Things, and other emerging technologies as a transformative opportunity to drive client value,” said Sastry Durvasula, Marsh’s chief digital officer and chief data and analytics officer. “With Marsh Digital Labs, we are providing a hands-on opportunity to collaborate with clients on new ecosystems, innovative use cases, and distribution channels that will better help them manage risk and succeed in the new economy.”
San Francisco-based Marsh Digital Labs is currently exploring new products in the small commercial and consumer business, cyber, the sharing/gig economy, autonomous vehicle and workers’ compensation sectors, Marsh said. It is headed by Asha Vellaikal, who joined Marsh in August, bringing with her a background in technology and innovation.
“The Labs includes a machine-learning garage to create next-generation risk models, intelligent automation, and cognitive capabilities,” Vellaikal said. “A cutting-edge design studio enables seamless integration with clients’ own digital applications to conduct pilots in the market.”