Marsh has announced that it will begin the rollout of its proof of insurance blockchain program to US commercial clients.
The blockchain-powered technology automates and streamlines the formerly manual, complicated proof-of-insurance process, Marsh said. The initial rollout will include a self-service app for a select group of Marsh clients. The app will allow them to search, view, issue and re-issue their certificates of insurance on demand, 24 hours a day, Marsh said. Further capabilities will be added to the platform later in the year.
“Today marks an important milestone in the development of Marsh’s Proof of Insurance blockchain platform,” said Sastry Duryasula, chief digital officer and chief data and analytics officer for 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.”
“Proof of insurance is a key business requirement for many industries,” said Martin South, president of Marsh’s US and Canada division. “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 platform to clients at the upcoming RIMS 2019 conference in Boston.