Monsoon Blockchain, Marsh to Provide Risk Management and Risk Transfer Solutions
Monsoon Blockchain, an Asian company, has declared its association with an insurance broker and risk adviser – Marsh. The blockchain company said that this implies a significant move for the blockchain, insurance, and risk management sectors globally.
Monsoon will operate with Marsh to provide a range of risk management and risk transfer solutions for digital assets and investments. With over 35,000 colleagues working in more than 130 countries, Marsh assists individual and commercial clients with advisory services and risk solutions.
SinChee Saw, Director of Partnerships at Monsoon Blockchain Asia explained in a statement, “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 said in a statement.
Monsoon Blockchain is concentrated on cloud solutions in the blockchain ecosystem. Dr. Donald Basile, its CEO, and founder, is the former CEO of Fusion-IO, a company recognized for performing a role in executing the cloud systems at Apple and Facebook as well as associations with HP, IBM, and Dell. Currently, the corporation continued 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 assists commercial and individual clients with data-driven risk solutions and advisory services. It is a business of Marsh & McLennan Companies, a global professional services firm in the areas of risk, strategy, and people. With the annual revenue approaching USD 17 billion and 76,000 colleagues worldwide, MMC is included in four businesses – Marsh, Mercer, Guy Carpenter, and Oliver Wyman.