PALO ALTO, Calif.–(BUSINESS WIRE)–May 14, 2020–
Monsoon Blockchain Corporation, Asia’s premier blockchain company, has worked with the world’s largest insurance broker and risk adviser, Marsh. This signifies a major move for the blockchain and insurance and risk management sectors globally.
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Monsoon Blockchain: City of the Future (Photo: Business Wire)
Monsoon will work with Marsh to offer a range of risk management and risk transfer solutions for digital assets and investments. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with risk solutions and advisory services.
SinChee Saw, Director of Partnerships at Monsoon Blockchain Asia, said: “There has been a net expansion of insurance capacity available for digital asset risks in the past twelve months and the insurance and risk management programs and risk advisory offered with the Monsoon solution is supported by insurance markets with superior financial strength ratings. The amount of overall capacity will depend on a risk-by-risk basis. That said, there is up to $1 billion USD in potential insurance capacity available across the specie, financial institutions, and insurance markets.”
“We are delighted to work with Marsh, who is transforming the Insurance and Risk Management industries using the Blockchain,” Monsoon CEO Dr. Donald Basile added.
Monsoon Blockchain Corporation is focused on innovative cloud solutions in the blockchain ecosystem. Dr. Donald Basile, its CEO and founder, is the former CEO of Fusion IO, a company known for playing a major role in implementing the cloud systems at Apple and Facebook as well as partnerships with HP, IBM, and Dell. Recently, Monsoon Blockchain added advisory board members Ken Goldman, President of Hillspire (Eric Schmidt’s family office), and former CFO of Yahoo and Fortinet, and Xiaoma Lu, former Dalian Wanda Investments CEO and former board member of the Shenzhen Stock Exchange to their team.
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching USD $17 billion and 76,000 colleagues worldwide, MMC is comprised of four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman.