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Marsh LLC is expanding its collaboration with International Business Machines Inc., utilizing that company’s strategic relationship with Salesforce.com Inc. to provide Marsh clients with wider access to the company’s blockchain proof of insurance, Marsh said in a statement Wednesday.
Marsh clients will now be able to access the blockchain commercial proof of insurance through the Salesforce platform, the statement said, adding it was demonstrated Wednesday at Salesforce’s Dreamforce 2018 in San Francisco.
“By making proof of insurance accessible digitally and instantaneously for our clients through Salesforce, we are streamlining a key business requirement through easy and secure sharing of proof of insurance,” Sastry Durvasula, Marsh’s chief digital, data and analytics officer, said in the statement.
Marsh and IBM are working “to transform the certificate of insurance process using blockchain technology,” the statement said.
Marsh announced in April the first commercial proof of insurance with IBM built on the open-source hyperledger fabric technology and IBM blockchain platform.
“Distributed ledger technologies are driving efficiency across many industries by enabling legacy manual processes to operate more efficiently and with greater transparency and trust,” Sandip Patel, general manager of insurance industry for IBM, said in the statement.
Switzerland-based Blockchain Insurance Industry Initiative is considering providing commercial insurance as its second line of business, Ledger Insights reported. The industry association has appointed Antonio Di Marzo as product owner for commercial insurance. The association's first project involved a reinsurance contract for excess of loss.