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Swiss Re: partnership with Hitachi in digital risks

( - Swiss reinsurer Swiss Re said on Tuesday that it will team up with the Japanese conglomerate to launch new insurance-based offerings for manufacturers adopting AI to their processes and operations.

Initially focused on the machinery and transport industries, the strategic partnership will help customers embrace AI and cutting-edge technologies, while insuring them against any unexpected business disruption, the companies said.

"As organisations increasingly depend on Artificial Intelligence (AI) powered automation for critical business processes and operations, corporations need to manage new "digital risks", Swiss Re said in a statement.

The strategic partnership - which combines Hitachi's experience in IT and operational technology and Swiss Re's know-how in risk management - is set to be launched in October 2020.

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