Omniscience Technology Chosen by Major Japanese Life Insurance Company Sompo Himawari
Omniscience today disclosed that Sompo Himawari Life Insurance Company has adopted Omniscience artificial intelligence (AI) technology as part of a new consumer service. This Omniscience technology is an important onramp for Computational Insurance™.
“An entirely new business model is needed for the insurance industry which faces challenges and stresses from more directions than ever before,” said Pallavi Ramnarain, Omniscience Vice President of Business Development & Strategy. “The ability to use, verify, and manipulate every piece of information digitally is an important element of Computational Insurance.”
The Omniscience AI being used by the newly announced Sompo Himawari Linkx Health Tri service provides the ability to retrieve Japanese language health screening data from images – giving Sompo Himawari a way to better understand its customers. This Omniscience capability complements its systematic suite of Computational Insurance products and technologies currently being launched by the company.
“We are very proud to be working with Sompo Himawari in Japan,” said Sakuya Morimoto, Omniscience Vice President for Japan.
Omniscience (www.omniscience.com) is the first company to enable the Computational Insurance™ business. Because of unique breakthrough distributed technology that can process many layers of business and data complexity completely and rapidly, Omniscience customers can approach their businesses in entirely new ways. Instead of this complexity inhibiting good decisions, insurance customers can use the vast amounts of data from inside and outside sources to make good business decisions that continuously improve the entire company while increasing transactional speed. Ultimately, Omniscience Computational Insurance solutions optimize insurance and financial services companies grow market share, save on costs, boost return on equity, and increase regulatory compliance. Over time many additional Computational Enterprise™ markets will benefit from Omniscience to handle the chaos in their environments. Based in Palo Alto, CA, investors in Omniscience include Guardian Life Insurance Company of America, TD Bank, Translink Capital, and others.