PR99527

DENVER, Feb. 2, 2023 /PRNewswire=KYODO JBN/ --

Palantir Technologies Inc. ("Palantir," NYSE: PLTR) and Palantir Technologies

Japan K.K. today announced a $50 million, five-year expansion of its work with

SOMPO Holdings ("SOMPO") and its group companies including SOMPO Japan, the

company's insurance business. This expansion will enable the roll out of

critical workflows across 10,000+ salespeople within SOMPO Japan, further

developments of SOMPO's Real Data Platform ("RDP"), and many other critical

growth opportunities across SOMPO Holdings.

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Thousands of users across SOMPO use Palantir Foundry as the backbone of the

company's projects to realize digital transformation and work within the RDP,

designed to improve security, health, and wellbeing in Japan and beyond. Within

SOMPO Japan, use of Foundry to-date has been focused on improving profitability

for the commercial insurance business, and supporting disaster response. One

workflow alone has already delivered significant value in terms of underwriting

profits to SOMPO Japan, and is now being rolled out to 10,000+ salespeople

across the Japanese insurance business. The organization's disaster response

work has also delivered substantial results - streamlining traditionally

labor-intensive efforts such as exchanging information with inspectors and

processing claims into reusable workflows across disasters that can now be

executed in days.

Within SOMPO Care, Foundry is used by hundreds of care staff across nearly 300

long-term care facilities to connect hundreds of 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.

"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," says Mikio Okumura,

Group COO, Director, President and Representative Executive Officer, SOMPO

Holdings. "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."

"Our work with SOMPO is the combination of a visionary customer, a critical and

time-sensitive challenge, and profound technology," says Palantir CTO, Shyam

Sankar. "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."

SOMPO has evolved from a traditional insurance firm, founded in the late 19th

century, to a digitally transformed, multinational company that actively

partners in research and develops real solutions to critical challenges, such

as the nation's aging population. Since 2019, SOMPO has used Foundry as the

backbone of its RDP solution. RDP is a collaborative ecosystem designed to

improve patient care, increase resiliency, modernize real-world operations, and

create a connected healthcare infrastructure that enables collaboration between

research institutions, government agencies, and private industry in Japan and

abroad.

About Palantir Technologies Inc.

Foundational software of tomorrow. Delivered today. Additional information is

available at https://www.palantir.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of

Section 27A of the Securities Act of 1933, as amended, and Section 21E of the

Securities Exchange Act of 1934, as amended. These statements may relate to,

but are not limited to, Palantir's expectations regarding the amount and the

terms of the contract and the expected benefits of our software platforms.

Forward-looking statements are inherently subject to risks and uncertainties,

some of which cannot be predicted or quantified. Forward-looking statements are

based on information available at the time those statements are made and were

based on current expectations as well as the beliefs and assumptions of

management as of that time with respect to future events. These statements are

subject to risks and uncertainties, many of which involve factors or

circumstances that are beyond our control. These risks and uncertainties

include our ability to meet the unique needs of our customer; the failure of

our platforms to satisfy our customer or perform as desired; the frequency or

severity of any software and implementation errors; our platforms' reliability;

and our customer's ability to modify or terminate the contract. Additional

information regarding these and other risks and uncertainties is included in

the filings we make with the Securities and Exchange Commission from time to

time. Except as required by law, we do not undertake any obligation to publicly

update or revise any forward-looking statement, whether as a result of new

information, future developments, or otherwise.

Media Contacts

Lisa Gordon

media@palantir.com

SOURCE  PALANTIR TECHNOLOGIES INC.