Swiss Re Corporate Solutions and Hitachi Europe announced a partnership to launch integrated insurance-based offerings for the digital era.

As organisations increasingly depend on Artificial Intelligence (AI) powered automation for critical business processes and operations, corporations need to manage new ‘digital risks’. To address this need, Swiss Re and Hitachi are launching a new industry solution that helps organisations accelerate their digital transformation while minimising the risk.

Initially focused on the manufacturing machinery and transport industries, the joint solution will help customers embrace AI and cutting-edge technologies to maximise productivity, increase automation, implement contactless operations and reduce downtime, while also insuring them against any unexpected business disruption.

“We are excited to work with a global technology leader like Hitachi to advance corporate insurance through digital market platforms and accelerate the adoption of innovative, smart manufacturing. Through this partnership we are activating machine-sensor data and continuous diagnostics across the industrial sector.

 

Ultimately this will enable us to price risk more precisely, ensure effective pay-out mechanisms, and provide a seamless risk management experience that addresses industry inefficiencies and is tailored to our customers’ needs.”

said Andreas Berger, CEO, Swiss Re Corporate Solutions.

The two companies are positioned to bring their offering to the market, with the first organisations launching in October 2020.