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
its commercial blockchain for proof of insuranceearlier 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
“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.”
A global leader in insurance broking and innovative risk management
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
& 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
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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.