Marsh to Begin Rollout of Proof of Insurance Blockchain Platform
New York, NY | April 25, 2019
Select Clients Can Obtain and Issue on-demand Certificates 24/7
Marsh, the world’s leading insurance broker and risk adviser, announced today that it will begin rollout of its Proof of Insurance Blockchain platform to US commercial clients.
Originally launched as a proof of concept last April, Marsh’s blockchain-powered Proof of Insurance transforms the process from manual and complicated to automated and streamlined, allowing clients to speed up necessary business functions while increasing coverage certainty.
The initial rollout will include a self-service digital app for a select group of Marsh clients, that will be able to easily search, view, issue, and re-issue their certificates of insurance on-demand 24 hours a day. Following the initial rollout, further capabilities will be added to the platform in 2019.
“Today marks an important milestone in the development of Marsh’s Proof of Insurance Blockchain platform,” said Sastry Durvasula, Chief Digital Officer and Chief Data & Analytics Officer, Marsh. “It builds a robust foundation for creating the network of networks that will enable certificate issuance and verification on a much broader scale, while providing intuitive digital self-service for our clients.”
Martin South, President of Marsh’s US and Canada division, added: “Proof of insurance is a key business requirement for many industries. By vastly simplifying the process of obtaining certificates, we will enable clients to spend more time focused on the things that matter such as growing their business.”
Marsh will be previewing the blockchain platform to clients at the upcoming RIMS 2019 Annual Conference & Exhibition in Boston.
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.