Marsh to launch blockchain solution for gig economy

Broker Marsh is developing what it describes as the first blockchain-based verification solution for clients in the sharing and gig economies, in partnership with Evident.

Evident is a data security platform that allows businesses to run comprehensive, accurate verifications without handling sensitive personal data.

Marsh said 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.

Earlier this year, Marsh launched a commercial blockchain solution for proof of insurance in collaboration with IBM, ACORD and ISN.

“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.”

David Thomas, CEO of Evident, commented: “Verification and validation cause significant friction in the sharing economy. Solving this challenge requires a solution that brings together trusted information from several parties."

"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,” Thomas added.

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