Marsh has partnered with a data security platform, ‘Evident’, to develop a first-of-its-kind blockchain based verification solution for its sharing and gig economy clients. The solution is built on the IBM Blockchain Platform and open source Hyperledger Fabric platform with input from Accord.
The blockchain solution will streamline the onboarding of gig economy workers by simplifying the insurance and identity verification process with added trust, safety, and risk management.
This collaboration marks an expansion of Marsh’s blockchain capabilities with it now being able to digitize certificates of insurance into immutable records so that all permissioned parties can instantly verify information.
Sastry Durvasula, Chief Digital, Data and Analytics Officer at Marsh has reiterated Marsh’s enthusiasm for blockchain; “The beauty of blockchain technology is its ability to provide trust, efficiency, and security across ecosystems. As the need for insurance and identity verification grows, our collaboration with Evident harnesses the power of blockchain to transform a major business challenge for the sharing and gig economies”.