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Sompo Japan has been leveraging Palantir Foundry + AIP to innovate and enhance its underwriting (UW) processes, which are crucial in determining the profitability of the company and the quality of service provided to customers. Foundry is utilized extensively in various aspects of SOMPO Japan’s operations, such as decision-making at sales branches, underwriting, and critical claims processes like disaster response. By integrating key information from multiple sources and automating simple tasks, Foundry allows underwriters to focus on areas where their expertise has the most impact. The platform has led to significant improvements in efficiency, resulting in a $100M impact by streamlining information access and enabling appropriate premium settings. SOMPO has also started using Palantir’s AIP-Powered Underwriting to capture unstructured data and tribal knowledge, with plans to expand its use to more product lines and functionalities. Through AIP, SOMPO aims to provide better support for underwriters in making critical decisions, further enhancing efficiency and collaboration.
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