Milliman Marc Strengths, Domain Expertise, and Key Differentiators
Milliman's expertise lies in providing actuarial and consulting services across a spectrum of industries, including retirement, healthcare, property and casualty insurance, life insurance, and financial services. With a global presence spanning 30 international offices, Milliman is well-positioned to anticipate market changes, recognize opportunities, and develop proactive strategies for its clients.
Milliman Marc Recent Developments
Milliman HealthIO, a trailblazer in digital health platforms, has unveiled its next-generation offering, amalgamating Milliman's cutting-edge predictive health analytics with HealthIO's preventive health technology. This groundbreaking move comes in the wake of Milliman's acquisition of HealthIO in June 2020, solidifying its commitment to revolutionizing the digital health landscape.
Milliman Marc Mergers and acquisitions (M&A) Activities
In October 2022 Milliman IntelliScript acquired OneRecord, a prominent digital healthcare company. OneRecord is known for its innovative solutions that empower consumers to access, aggregate, and share their healthcare data securely with trusted individuals and organizations through standards-based APIs. The acquisition of OneRecord represents a strategic milestone for Milliman IntelliScript, positioning the company to better serve its clients who rely on the delivery of digital health and consumer data to mitigate risks associated with insurance underwriting and clinical trials.
OneRecord brings two key products to the table: a consumer application that enables individuals to retrieve their clinical and financial healthcare information for free, and a business-facing application programming interface (API) that delivers electronic health records (EHR) and claims data with consent for insurance underwriting and clinical trials. These products align closely with Milliman IntelliScript's mission to provide data-driven solutions that support informed decision-making and improve outcomes for insurers and consumers alike.
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, Milliman IntelliScript customers.
Milliman Marc Overview
Ownership: - x
Number of Employees: 4600
Functional Market: Benefits Administration, Pension Administration, Compensation,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, 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 IntelliScript
Milliman Marc HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| 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:
Milliman Marc HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Milliman Marc HCM Applications Revenues By Verticals, $M:
Milliman Marc Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Milliman Marc Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Milliman Marc Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Milliman Marc Customers
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 boasts a diverse customer base across various industries and geographic regions. With a large footprint around the globe, Milliman serves clients from offices worldwide, catering to their unique needs and delivering innovative solutions.
Milliman Marc Market Opportunities, M&A and Geo Expansions
The expansion into new regions and the embrace of cloud, IoT, AI, and ML technologies present significant growth opportunities for Milliman. Partnerships with companies like Akur8 and Enova Decisions underscore Milliman's commitment to leveraging advanced analytics to drive value for insurers and enhance pricing capabilities.
Milliman Marc Risks and Challenges
Milliman faces significant company risks regarding data breaches following the compromise of sensitive personal information, including Social Security numbers and dates of birth, impacting over 1.2 million consumers due to a breach in a vendor utilized by Milliman Solutions. With consumers' full names and Social Security numbers now potentially accessible to criminals, the company is confronted with heightened threats of identity theft and various fraudulent activities. This breach not only exposes the affected individuals to substantial privacy concerns but also poses reputational and financial risks for Milliman, necessitating robust security measures and diligent efforts to mitigate the fallout and restore trust among its clientele.
Milliman Marc Ecosystem, Partners, Resellers and SI
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.
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.
Milliman Marc Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- Milliman Marc Public Cloud and Infrastructure (IaaS)
- Milliman Marc Platform (PaaS)
- Milliman Marc Application Delivery
- Milliman Marc Private Cloud and Data Centers
Research Methodology
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).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ
