Mega-broker Marsh is building its footprint in the SME market by offering a new online insurance product and placement platform for select regional and metropolitan brokers.

Called Marsh & McLennan Agency, the platform will amalgamate services currently offered by Marsh Commercial Insurance Agencies – a placement facility allowing a panel of insurers to contest business in the SME and middle market – with a product manufacturing hub and support services for brokers.

Agency GM Rod Seymour says an existing list of allied brokerages will be expanded selectively this year under the arrangement.

“Marsh & McLennan Agency already places a significant volume of premium into the commercial insurance market,” he told insuranceNEWS.com.au.

“Our plans involve expanding our exclusive network of alliance brokers to over 20 partners in the medium term and we recently partnered with a major regional insurance broker.

“Our alliance partners will typically be leading players in their local market space.”

Marsh plans to add new niche and industry products to its placement facility that already transacts “significant” gross written premium.

Mr Seymour told insuranceNEWS.com.au the Marsh & McLennan Agency operating in the US has a somewhat different business model from the Australian one, but the business has grown recently and is poised to become the 13th largest insurance agency in the US.

Marsh says the Marsh & McLennan Agency brand supports its global SME strategy, with operations in places such as the UK, Asia and NZ as well as the US.