Marsh To Roll Out Blockchain Platform for Proof of Insurance

Originally launched as a proof of concept last April, Marsh said it will begin rollout of its Proof of Insurance Blockchain platform to US commercial clients.

The brokerage firm said its 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 and analytics officer at 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."