SOMPO Holdings and Palantir Technologies have signed a $50 million, five-year expansion agreement to enable the rollout of critical workflows within SOMPO Japan, alongside further developments of SOMPO’s Real Data Platform (RDP).
Since 2019, SOMPO has used Palantir Foundry as the backbone of its RDP solution.
RDP is a collaborative ecosystem designed to improve patient care, modernise real-world operations, and create a connected healthcare infrastructure that enables collaboration between research institutions, government agencies, and private industry in Japan and abroad.
Within SOMPO Japan, the use of Foundry to date has been focused on improving profitability for the commercial insurance business and supporting disaster response.
SOMPO states that one workflow alone has already delivered significant value in terms of underwriting profits to SOMPO Japan.
This is now being rolled out to 10,000+ salespeople across the Japanese insurance business.
Mikio Okumura, Group COO, Director, President and Representative Executive Officer of SOMPO Holdings, commented, “As Palantir’s most important partner in Japan, we SOMPO will continue to expand our efforts in DX to increase our own operational efficiency and profitability and in creation of RDP, by using Foundry.
“In parallel, SOMPO will promote DX for Japanese companies, government agencies, and society through Palantir Technologies Japan, which was jointly established by SOMPO and Palantir.”
Within SOMPO Care, Foundry is used by hundreds of care staff across nearly 300 long-term care facilities to connect recipient parameters into flexible and recipient-specific long-term care plans.
SOMPO has also recently started to use Foundry to enable secure government reporting, replacing highly manual and CSV-based email sharing with an automated and live-updating workflow that connects SOMPO care providers with critical government regulations, funding requirements, and more.
Palantir CTO, Shyam Sankar, added, “Our work with SOMPO is the combination of a visionary customer, a critical and time-sensitive challenge, and profound technology.”
“The expansion of our work across more of SOMPO Care, into SOMPO Japan and elsewhere, is emblematic of our joint ambition with SOMPO to support Japan as a global leader.”
