Marsh Pilots Blockchain-Powered Ins. Placement
Wednesday, 09 25 2019, Category: Technology, Country: World
Insurance broker Marsh is piloting a digital insurance placement platform that it says has the potential to let clients, carriers and its brokers share real time information and feedback on the placement and binding process.
The platform, called Risk Exchange, is run with blockchain technology. The Risk Exchange concept was proposed by a winning Marsh hackathon team and further developed in Marsh Digital Labs.
In the pilot, Marsh clients chemical firm Dow Inc. and appliance maker SharkNinja will bind U.S. trade credit policies with carriers including AIG and Euler Hermes, receiving real time status updates and notifications throughout the process.
Source: Insurance Journal