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Marsh LLC said Thursday it will begin rollout of its proof of insurance blockchain platform to U.S. commercial clients.
The initial rollout will include a self-service digital app for a select group of Marsh clients that will be able to search, view, issue and re-issue their certificates of insurance on-demand 24 hours a day, the broker said in a statement.
Following the initial rollout, further capabilities will be added to the platform in 2019, the statement added.
“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,” Sastry Durvasula, Marsh’s chief digital officer and chief data and analytics officer, said in the statement.
“Proof of insurance is a key business requirement for many industries,” Martin South, president of Marsh’s U.S. and Canada division, said in the statement. “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 L.L.C. is collaborating with IBM, the Association for Cooperative Operations Research and Development and ISN Software Corp. to produce the first commercial blockchain solution for proof of insurance, Marsh said in a statement late Monday.