Marsh: Transforming proof of insurance with blockchain

Construction companies hiring contractors and gig workers require them to submit proof of insurance before beginning work. However, obtaining and submitting this proof can take days and even weeks due to complicated and manual processes. As the insurer that helps create millions of these insurance guarantees each year, Marsh saw an opportunity to streamline and improve the process using IBM Blockchain technology. The IBM Services team helped Marsh integrate Salesforce.com with the IBM Blockchain Platform as the starting point in the certificate process to create an immutable proof-of-insurance record accessible by all permissioned network members to increase efficiency and boost trust among all parties to the transactions.

“I’ve seen the investment and the commitment from IBM to the open source community, especially the Hyperledger Project. I do think that the effort that IBM is putting in makes a lot of sense for us to partner with,” explains Sastry Durvasula, Chief Digital Officer and Chief Data and Analytics Officer, Marsh LLC.

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