Swiss Re and Hitachi in AI-powered insurance collaboration

Swiss Re Corporate Solutions is working with Hitachi Europe to roll out integrated insurance-based solutions for the manufacturing machinery and transport industries.

Designed to help accelerate digital transformation while minimising the risk of downtime to critical processes and operations, the largely AI-driven solution aims to maximise productivity, while also insuring against 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," said Andreas Berger, CEO, Swiss Re Corporate Solutions. "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."

"The strategic partnership with Swiss Re brings together two companies at the top of their industries, creating a new and compelling offering in today’s market. With Hitachi’s experience in IT and operational technology and Swiss Re’s leadership in risk management, we will provide a unique offering to equip businesses with the opportunity and confidence to further digitise, optimise and automate their operations,” said Hicham Abdessamad, chief executive, Hitachi Global Social Innovation Business. “In today’s world, it is becoming a necessity for businesses to digitally transform and use advanced technologies such as AI to become more agile and automate as much as possible. Also, it is imperative that they can do so with the confidence that their digital risk is mitigated.”

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