Marsh & McLennan and IBM would collaborate on developing the blockchain insurance verification platform]

Marsh& McLennan, an international insurance broker, has been working with companies such as IBM to develop a blockchain-based insurance verification platform. According to news released on Monday, the non-profit company ACORD and the software company ISN participated in the project. These companies would use Hyperledger Fabric code and IBM's blockchain platform to develop a process that helped simplify the certification of insurance that contractors claimed to sell. The licensed blockchain established within the platform only allowed specific parties to access real-time data and would replace the manual paper systems that the company currently relied on. Marsh Insurance stated the platform was currently in the pilot phase of development.