US Clients of Marsh Will Soon Have Access to Proof of Insurance (POI) Blockchain Platform
The use cases of blockchain technology are growing, as various industries find a place for them to implement the immutable and censorship-resistant ledger.
It is especially helpful to industries that need to maintain a consistent source of information, which can be highly beneficial to consumers in the insurance industry for multiple reasons. As such, global insurance broker Marsh, based in Canada, has expressed that they will soon be offering a proof of insurance (POI) blockchain platform, targeting American commercial clients.
The idea of offering a POI platform was originally just a “proof of concept” in April last year. However, with the upcoming launch, the new opportunity will allow better confirmation of insurance coverage, while ultimately will speed up the various processes of the company.
Clients of Marsh will soon be able to secure certificates of insurance through the blockchain-based app, according to Marsh’s recent tweet.
NEWS: Select @MarshGlobal clients will soon be able to obtain on-demand certificates of insurance via a digital app, powered by #blockchain technology. Learn more now: https://t.co/0NdycHvr22 #MarshRIMS #RIMS2019 pic.twitter.com/tGkJ6TgeFL
— Marsh (@MarshGlobal) April 25, 2019
When the app comes out, it will be available to a small fraction of the Marsh clients. These clients will have access to features that let them search, view, issue, and reissue certificates, based on their April 25th press release. When the initial launch happens, there will be other features added, though it won’t happen until later this year.
Like recent reports have said, the Hyperledger Fabric tech supports the platform, thanks to the collaboration with IBM, ACORD, and ISN. After the proof of concept was established, Marsh had partnered with IBM to expand the client base with the Salesforce platform in September.
Visit the official website to get updates on the new platform. The full press release can be viewed at https://www.marsh.com/us/media/proof-of-insurance-blockchain-platform.html?utm_source=twitter&utm_medium=socialmedia&utm_campaign=rims-2019&sf101659680=1.
According to the press release, the blockchain platform will be previewed at the RIMS 2019 Annual Conference & Exhibition. This event is scheduled to take place in Boston, starting on April 28th and going until May 1st.