Palantir forms partnership with Sompo

Sompo, a subsidiary of the company responsible for the insurance and reinsurance operations of Sompo Holdings Group outside of Japan, has formed a partnership with Palantir Technologies. This 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 paved the way for data operations platform, Palantir Foundry, along with Palantir’s Artificial Intelligence Platform, 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.