Global professional services firm Marsh is expanding an effort to offer insurance solutions on IBM's blockchain platform.
The company announced Wednesday that it was working with IBM Blockchain to launch a commercial version of an insurance verification program it first introduced in April, according to a press release.
Marsh and IBM will use the new platform to streamline the insurance certification process, providing both speed and transparency for clients looking to hire contractors, as opposed to the existing manual input process.
IBM insurance general manager Sandip Patel praised the underlying distributed ledger technology in a statement, noting its potential use in modernizing tools used by existing companies.
The new blockchain-based tools will be offered through the Salesforce platform, the release noted.
Marsh chief digital, data and analytics officer Sastry Durvasula added in a statement that "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."
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.