Sompo has partnered with Palantir Technologies to boost digital transformation.
Takeaway Points
- Sompo partners with Palantir Technologies to boost digital transformation.
- The initiative plans to invest over the next three years in a data integration and AI solution.
Sompo Partners with Palantir
Sompo, a subsidiary of the company responsible for the insurance and reinsurance operations of Sompo Holdings Group outside of Japan, said on Friday that it has formed a partnership with Palantir Technologies Inc., a leading vendor of artificial intelligence (AI) systems for the modern enterprise. The initiative plans to invest over the next three years in a data integration and AI solution to drive digital transformation at the insurer, which is among the top five in the corporate and agribusiness insurance segment in Brazil.
The contract builds on Palantir’s existing partnership with Sompo’s parent company, Sompo Holdings in Japan. It has cleared the way for data operations platform Palantir Foundry, along with Palantir’s Artificial Intelligence Platform (AIP), to be used to support improved decision-making in key areas of Sompo’s business, such as pricing, underwriting, and risk management—delivering efficiency gains and faster response times for the insurer’s customers and partners, Palantir said.
Igor Zavorize, Sompo’s Superintendent of Strategy and Data Governance, said: “We are excited about our partnership with Palantir, using Foundry and AIP to maximize the potential of our data. These advanced data integration and analysis tools allow us to implement AI models at scale. With this, we can turn data into strategic insights and significantly improve decision-making across the organization.”
Tiago Fetter dos Santos, Head of Financial Services & Government in Brazil for Palantir Technologies, said: “We are proud to partner with Sompo on their Data Analytics and AI journey and support their digital transformation to optimize critical processes for the benefit of the business and its customers. The impressive results that we are already delivering together underline our conviction that the company’s bold vision, combined with the adoption of Palantir’s software, will give them a technology-driven competitive advantage in the Brazilian market.”
Sompo’s investment in Palantir’s solutions shows the company’s determination to increase its program of digital transformation, incorporating solutions to optimize business performance, according to the company.
About Sompo SA
Sompo is a subsidiary of the company responsible for the insurance and reinsurance operations of the Sompo Holdings Group outside Japan. In Brazil, the company has a specialized team and a diversified portfolio of insurance products and services to guarantee protection with excellent insurance and risk management solutions. Its wide range of products includes Corporate Insurance in lines as Marine, Commercial Multiple Peril, Financial Lines & Casualty, Bid Bond, Court Bond, Engineering Risks, Specified Risks & All Risks, Oil & Gas, Crop Funding & Yield, Mobile & Stationery Equipment and Rural Pledge Equipment.
Sompo Holdings Inc. was founded in Japan, where it has been operating for more than 130 years in the insurance market. Nowadays, the company has subsidiaries on five continents. In Japan, it offers a wide range of Property and Casualty, Life and Personal Accident insurance, and financial and other products and services intending to improve the customer’s safety, health, and well-being.
About Palantir Technologies Inc.
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