According to the Business Wire report from April 16, IBM is collaborating with Marsh and other companies including ACORD and ISN in order to bring commercial blockchain solution for proof of insurance. Marsh is a company which provides industry-focused consulting, brokerage, and claims advocacy services, and leverage data, technology, and analytics aiming to reduce the clients’ total cost of risk.
Marsh is built on the Hyperledger Fabric technology and IBM Blockchain, and it will develop the commercial proof of insurance solution "in conjunction with IBM, with input from ACORD, and customer feedback from ISN".
Marsh sees great opportunity in leveraging blockchain technology to better serve our clients by maximizing efficiency and creating new opportunities in the insurance value chain. We believe strategic engagements such as this one with IBM, ACORD, and ISN will help accelerate the adoption of further blockchain applications benefiting our clients across industries.
Chief Digital Officer, Marsh
Sandip Patel, general manager of insurance industry at IBM, stated that IBM is aiming to connect emerging blockchain networks to facilitate the next generation economy, and they find collaboration with Marsh an ideal example of how blockchain can be used on a broader scale to drive real business results.