Data Driven X: A Siemens AG corporate venture
As an innovation leader, Siemens AG connects the physical and digital worlds to help customers accelerate transformation and solve the biggest productivity and sustainability challenges of our time. By that, Siemens helps to change everyday life for billions of people.
Now Data Driven X connects two ecosystems, the financing, and the manufacturing industry. The Data Driven X platform transmits industrial data directly from the production machine to insurers and financial institutions. By connecting the dots, insurances can unravel new business models to become future-proof and complement their portfolio with automated underwriting, faster claims processes, predictive maintenance, and individualized premiums.
The interdisciplinary team located in more than ten countries makes machinery data directly usable for insurance companies: The transformation of data from the shopfloor into risk-relevant data finally makes it possible to leverage the full potential of data.