Milliman Marc Strengths, Domain Expertise, and Key Differentiators
Milliman provides actuarial and consulting services in the areas of retirement, healthcare, property and casualty insurance, life insurance, and financial services to clients from some 30 international offices outside of its base in the US – covering every continent of the globe.
Milliman Marc Recent Developments
In August 2021, Milliman HealthIO launched its next-generation digital health platform, combining Milliman's state-of-the-art predictive health analytics and HealthIO's preventive health technology. HealthIO (acquired by Milliman in June 2020) provides a mobile-first app-based platform, enabling users to capture and record multiple health vitals on a regular basis.
Milliman introduced gradient A.I., a Milliman predictive analytics platform, now offers a professional employer organization (PEO)-specific solution for managing workers' compensation risk. gradient A.I. is advanced analytics and A.I. platform that uncovers hidden patterns in big data to deliver a daily decision support system (DSS) for insurers, self-insurers, and PEOs.
Milliman Marc Mergers and acquisitions (M&A) Activities
In September 2021, Milliman acquired SkySail Rx, a pharmacy benefit technology firm that specializes in leveraging data for all, aspects of pharmacy benefit pricing and contract management. The addition gives Milliman's clients a more robust platform for managing pharmacy benefits and complements the firm's existing suite of analytic tools.
In March 2021, Milliman acquired McHugh Consulting Resources, a provider of outsourced insurance compliance and regulatory services. The addition of the McHugh team solidifies Milliman's position as the country's leading life and health insurance compliance service provider, capable of helping clients navigate federal and state insurance regulations as well as providing a full range of compliance and regulatory support.
Milliman Marc Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Milliman Marc applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Milliman Marc and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Milliman Datalytics-Defense, Milliman CHESS customers.
Milliman Marc Overview
Ownership: - x
Number of Employees: 3000
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K164, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Milliman Marc Key Cloud and HCM Applications
Milliman Datalytics-Defense, Milliman CHESS
Milliman Marc HCM and Cloud HCM Applications Revenues, $M:
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|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Milliman Marc Revenue Breakdown by Type:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Milliman Marc HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2021 HCM Revenues, By Sub-Functional Markets, $M
Milliman Marc HCM Applications Revenues By Verticals, $M:
Milliman Marc Total and HCM Applications Revenues by Region:
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 HCM Applications Revenues, $M|
Milliman Marc Direct vs Indirect sales
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Milliman Marc Customers - Breakdown by Geo, Size, Vertical and Product
No. of Milliman Marc Customers: x
No. of Milliman Marc HCM Applications Customers: x
No. of Milliman Marc Cloud HCM Customers: x
No. of Milliman Marc Cloud HCM Subscribers: x
Milliman serves industries that are involved in multiple markets, helping them anticipating changes, recognize opportunities, and develop proactive strategies.
Milliman has large geographic coverage of customers around the globe, with offices and teams managing solutions and providing services.
Milliman Marc Market Opportunities, M&A and Geo Expansions
Milliman's Tampa office benefit from the addition of a Property and Casualty (P&C) team, which is established in response to the growing demand for its property insurance analytics. The new Tampa P&C office solidifies Milliman’s presence in the Atlantic and Gulf coastal regions of the U.S and supports its commitment to the growing domestic property re/insurance market there. The P&C team is expected to work closely with Nancy Watkins from Milliman’s San Francisco office, who is a principal and consulting actuary with experience working in Florida.
Milliman Marc Risks and Challenges
Milliman will be having a problem in competing with larger corporations that utilize cloud adoption as a primary hosting model for their services and solutions. Where the migration to the cloud is a work in progress for Milliman.
Milliman Marc Ecosystem, Partners, Resellers and SI
In November Akur8, the next-generation insurance pricing solution, and Milliman partnered to empower property &, casualty (non-life) insurance carriers, start-ups, and MGAs with next-generation pricing capabilities. Together, this collaboration leapfrogs conventional ratemaking solutions to offer increased speed, accuracy, and governance in insurance pricing.
In February 2020, Milliman and Enova Decisions, a financial technology and analytics company made a strategic alliance aimed at bringing new advanced analytics to insurers. The alliance brings together Milliman's deep domain expertise and data resources and Enova Decisions' real-time analytic capabilities, giving insurers an innovative platform for retaining customers, optimizing sales operations, and maximizing the value of current and future customers.
The Milliman/Enova Decisions strategic alliance will provide life insurance clients with the opportunity to achieve strategic targets and business goals through the activation and operationalization of integrated, data intelligence-driven solutions.
In June 2018 Milliman expanded its operations in the Middle East with a launch of an office in Israel, adding to its base in Dubai.
Expanded its regional operations with a new office in Israel – to be based in Tel Aviv and headed by Benny Gabbay and Daniel Sharon; leading insurance figures in the local market with over 40 years of industry experience between them.
The new outlet offers Milliman’s full range of insurance and actuarial consulting services.
In Israel, the firm will be competing against market players Aon Hewitt, which has branches in Tel Aviv and Haifa, and Mercer and Willis Towers Watson, which operate locally through partnerships and third parties, along with and the actuarial lines offered by the Big Four firms.
In the UK, the ten largest actuarial and pension consulting firms brought in revenues of £2 billion.
Milliman Marc Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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