TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Directory
  • Smart Studio
  • Surveys
  • Debates
  • Perspectives
  • DSP Leaders World Forum
  • DSP Leaders
  • Great Telco Debate
    • |
    • Follow
    • |
    • Subscribe
  • |
  • More
  • Webcasts
  • Surveys
  • Debates
  • Perspectives
  • Great Telco Debate
  • |
  • Follow TelecomTV
  • |
    • Subscribe
    • |
  • About
  • Privacy
  • Help
  • Contact
  • Follow TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

Internet of Things

TelecomTV TRACKER

Sourced by TelecomTV's TRACKER platform
from IBM Press Center

Internet of Things

Swiss Re to work with IBM Watson to harness the power of Big Data for Reinsurance

Via IBM Press Center

Oct 22, 2015

NEW YORK CITY and ZURICH - 22 Oct 2015: Swiss Re and IBM (NYSE: IBM ) today announced that they are developing a range of underwriting solutions that rely on IBM Watson's cognitive computing technologies. One of the first applications will be in Swiss Re's Life & Health Reinsurance business unit.

To compete successfully and profitably, insurers must identify and act on emerging trends. In addition, insurers need the ability to spot operational issues or opportunities in real time and respond proactively. Cognitive technologies, coupled with human experience and insights, can enhance and help inform timely decision making. By applying Watson’s capabilities, the new platform could allow Swiss Re professionals to make better informed decisions and more accurately price risk.

Thomas Wellauer, Swiss Re's Group Chief Operating Officer, says: "Systems like cognitive computing can continuously read the ever growing amount of information while helping us connect the dots and making it easier to interpret that information in the right context. Swiss Re and IBM are collaborating to establish a vision for cognitive computing at Swiss Re and the wider insurance industry."

The project is yet another new industry domain for IBM’s Watson, a technology that represents a new era in computing in which systems are able to analyze and process vast amounts of unstructured data, quickly surface insights and continuously learn from their interactions with humans and data. Delivered via the cloud, Watson’s key underlying technologies are deep learning and natural language processing, the latter of which allows for humans to ask questions and interact with the system as they would a colleague.

Mike Rhodin, IBM Watson's Senior Vice President, says: "We are continuously looking for clients who can help us train Watson on new industries. Swiss Re's strong heritage of leadership in reinsurance, their global reach and breadth of data across several areas of the industry, combined with Watson's ability to learn and provide insights into vast amounts of data, make this a particularly exciting venture."

As part of the initiative Swiss Re has also set up a Center of Competence where a group of data scientists will work with IBM's cognitive computing technology to explore and deliver a wide range of use cases. Other examples of such cognitive underwriting could follow as Swiss Re and IBM work to develop a range of solutions across various sectors of the reinsurance industry that could benefit from cognitive computing.

IBM Watson: Pioneering a New Era of Computing

Watson is the first open cognitive computing technology platform and represents a new era in computing where systems understand the world in the way that humans do: through senses, learning, and experience. Watson continuously learns, gaining in value and knowledge over time, from previous interactions. With the help of Watson, organizations are harnessing the power of cognitive computing to transform industries, help professionals do their jobs better, and solve important challenges.

To advance Watson, IBM has two dedicated business units: Watson, established for the development of cloud-delivered cognitive computing technologies that represent the commercialization of "artificial intelligence" or "AI" across a variety of industries, and Watson Health, dedicated to improving the ability of doctors, researchers and insurers and other related health organizations to surface new insights from data to and deliver personalized healthcare.

For more information on IBM Watson, visit: ibm.com/Watson and ibm.com/press/watson. Join the conversation at #ibmwatson.

Related Topics
  • Contract Award,
  • Device Software & Apps,
  • Digital Platforms & Services,
  • IBM,
  • Internet of Things,
  • News,
  • North America,
  • Tracker

More Like This

Digital Platforms & Services

It turns out IoT is a tech concept in search of a business model

Mar 4, 2021

Access Evolution

What’s up with… Broadband cord cutting, HPE, Deutsche Telekom

Mar 3, 2021

AI, Analytics & Automation

Siemens, IBM, Red Hat Launch Hybrid Cloud Initiative to Increase Real-time Value of Industrial IoT Data

Feb 24, 2021

Access Evolution

What’s up with… Global data capacity, chips, subsidies, Berkshire Hathaway

Feb 17, 2021

Access Evolution

Vodafone tests new highly accurate location tracking technology

Feb 16, 2021

This content extract was originally sourced from an external website (IBM Press Center) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

18:43

Cloud Native Isn’t Enough - Telcos Need to Adopt Webscale Applications

35:16

Defining a new DSP/vendor dynamic for better business outcomes

22:44

Telefónica CTIO Enrique Blanco on the potential of an open ecosystem

38:50

Strategic options for telco cloud deployments

  • TelecomTV
  • Decisive Media

TelecomTV is produced by the team at Decisive Media

Menu
  • News
  • Videos
  • Channels
  • Directory
  • Smart Studio
 
  • Surveys
  • Debates
  • Perspectives
  • Events
  • About Us
Our Brands
  • TelecomTV Tracker
  • TelecomTV Perspectives
  • DSP Leaders
  • DSP Leaders World Forum
  • The Great Telco Debate
Get In Touch
[email protected]
+44 (0) 207 448 1070

Request a Media Pack

Follow
  • © Decisive Media Limited 2021. All rights reserved. All brands and products are the trademarks of their respective holder(s).
  • Privacy
  • Terms
  • Legal Notices