Swiss Re and Hitachi link up to launch integrated insurance-based offerings for digital risk solutions. Hitachi is concentrated on its Social Innovation Business which distributing innovations that answer society’s challenges. Swiss Re Corporate Solutions allows risk transfer solutions to wide and medium corporations around the world.
The joint contribution assists organizations to quicken their digital transformation while decreasing risk and assuring against unexpected business disturbances and the first solutions will go-live in October 2020.
Nowadays most of the organizations increasingly depend on Artificial Intelligence (AI) powered automation for critical business processes and operations, corporations need to control new ‘digital risks’. To label this need, Swiss Re and Hitachi are launching a new industry solution that helps organizations to facilitate their digital transformation while decreasing the risk.
The combined solution will assist customers to hold AI and cutting-edge technologies to increase productivity, maximize automation, execute contactless operations, and reduce downtime which initially concentrated on the manufacturing machinery and transport industries.
Andreas Berger, CEO, Swiss Re Corporate Solutions stated that they are thrilled to work with a global technology leader like Hitachi to promote corporate insurance via digital market platforms and accelerate the adoption of innovative and smart manufacturing.
They are operating machine-sensor data and continuous diagnostics across the economic sector by this partnership. Eventually, this will allow us to price risk more precisely, make sure effective pay-out mechanisms, and give a continuous risk management experience that addresses industry inefficiencies and is a change to the customer’s needs.
Hicham Abdessamad, Chief Executive, Hitachi Global Social Innovation Business said “The strategic partnership with Swiss Re brings in conjunction two companies at the upmost of their industries, generating a new and compelling offering in today’s market. We will allow a unique offering to equip businesses with the confidence and opportunity to further optimize, digitize, and automate their operations.”
It is becoming a necessity for businesses to digitally change and use advanced technologies in today’s world such as artificial intelligence to become more supple and automate as much as possible. In addition, it is vital that they can do so with the confidence that their digital risk is diminished.
Both the companies are well-positioned to bring this distinctive offering to the market with the initial organizations launching in October 2020.
