Marsh expands IBM collaboration to bring blockchain proof of insurance to more clients via Salesforce platform

Insurance broking firm Marsh is expanding its collaboration with IBM to provide clients with wider access to the industry’s first commercial blockchain solution for proof of insurance.

The companies joined forces in April this year to build a commercial blockchain solution for proof of insurance with inputs from ACORD and customer feedback from ISN. It is built on the open source Hyperledger Fabric technology and IBM Blockchain Platform.

By using blockchain technology, the companies aim to transform the certificate of insurance process by making it streamlined and transparent, as compared to the existing complicated and manual processes. This would enable clients to speed up necessary business functions such as hiring contractors.

In its latest announcement, Marsh said that it will leverage IBM’s strategic relationship with Salesforce to extend the commercial proof of insurance blockchain solution to be directly accessible to its clients through the Salesforce Platform.

“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.

The new initiative will be demonstrated today at Salesforce’s Dreamforce 2018, taking place in San Francisco.