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Marsh and Evident to Launch Blockchain Solution for Sharing Economy | Business Wire

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NEW YORK–(BUSINESS WIRE)–Marsh, a global leader in insurance broking and innovative risk

management solutions, today announced that it is developing the first

blockchain-based verification solution for clients in the fast-growing

sharing and gig economies.

Working in collaboration with Evident, a data security platform that

allows businesses to run comprehensive, accurate verifications without

handling sensitive personal data, the new 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.

Built on the IBM Blockchain Platform and open source Hyperledger Fabric,

with input from insurance standards leader ACORD, Marsh announced

its commercial blockchain for proof of insurance earlier this year.

This collaboration with Evident marks an expansion of Marsh’s

blockchain’s capabilities which, when connected with Evident’s Identity

Assurance Platform, will digitize certificates of insurance into

immutable records so that all permissioned parties can instantly verify

information.

“The beauty of blockchain technology is its ability to provide trust,

efficiency, and security across ecosystems,” said Sastry Durvasula,

Chief Digital, Data and Analytics Officer at Marsh. “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.”

“Verification and validation cause significant friction in the sharing

economy. Solving this challenge requires a solution that brings together

trusted information from several parties,” said David Thomas, CEO of

Evident. “Integration of our platform’s identity verification

capabilities with Marsh’s blockchain will streamline the onboarding of

gig workers and offer an unparalleled ability to verify key information,

all while ensuring our customers minimize their exposure to their data.”

About Marsh

A global leader in insurance broking and innovative risk management

solutions, Marsh’s

30,000 colleagues advise individual and commercial clients of all sizes

in over 130 countries. Marsh is a wholly owned subsidiary of Marsh

& McLennan Companies (NYSE: MMC), the leading global

professional services firm in the areas of risk, strategy and people.

With annual revenue over US$14 billion and nearly 65,000 colleagues

worldwide, MMC helps clients navigate an increasingly dynamic and

complex environment through four market-leading firms. In addition to

Marsh, MMC is the parent company of Guy

Carpenter, Mercer,

and Oliver

Wyman. Follow Marsh on Twitter @MarshGlobal;

LinkedIn;

Facebook;

and YouTube,

or subscribe to BRINK.

About Evident

Evidentis revolutionizing the way personal data is shared.

Evident’s simple, secure Identity Assurance Platform lets businesses

confidently know who they are dealing with without handling sensitive

personal data. With connections to thousands of authoritative sources

through a single API, Evident is the only platform that enables

comprehensive, accurate and up to date identity and credential

verifications without the risk and liability of holding personal

information. For more information, visit www.evidentid.com.

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