Intel, Decentriq and Swiss Re Improve Data Privacy

Rhea-AI Summary

Swiss Re is collaborating with Decentriq to enhance data privacy using Intel SGX technology. This partnership aims to secure sensitive datasets while performing analytics, addressing challenges in accessing such data. Swiss Re has demonstrated improved performance, security, and market speed through a proof of concept in marine insurance. This use of confidential computing is anticipated to unlock new business opportunities and enhance insurance pricing models as the industry adapts to a more data-driven environment.

Positive

• Collaboration with Decentriq enhances data privacy using Intel SGX technology.
• Improved performance and security identified in marine insurance proof of concept.
• Potential for new business segments and improved pricing models in insurance.

Negative

• None.

Swiss Re explores further protection of critical data using confidential computing, powered by Intel SGX technology and enabled by Decentriq

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SANTA CLARA, Calif.--(BUSINESS WIRE)-- What’s New: Swiss Re, a leading global reinsurance provider, is working with Decentriq’s confidential computing-based platform powered by Intel® Software Guard Extensions (Intel® SGX) to help secure data privacy while performing analytics on sensitive datasets. This collaboration allows Swiss Re to apply Intel SGX technology to its cloud services to provide new levels of protection to data in use, harnessing the industry’s most tested and most widely deployed hardware-based data center-trusted execution environment.

“As a data and technology-driven risk knowledge company, Swiss Re intends to make use of confidential computing technologies to better protect sensitive data and gain actionable insights. I’m optimistic this will continue to allow us to access and analyze data in new ways to help unlock new forms of value creation in risk protection today and in the future.”

–– Sebastian Eckhardt, expert business analyst, Swiss Re

How It Works: In a world where organizations are continuously storing and sharing sensitive data, from credit card transactions to medical records, protecting the most sensitive of assets is essential. Decentriq is providing security by encrypting applications and data everywhere – at rest, in motion and in use – with its technology built upon Intel SGX. This enables organizations like Swiss Re, that have traditionally faced challenges gaining access to datasets that contain sensitive information, to extract analytical, actionable insights from this data without impacting consumer privacy.

In a proof of concept in marine insurance, Swiss Re used a shipping dataset from a supply chain data aggregator to process data where, typically, data privacy and competitive concerns have presented barriers to access. In Swiss Re’s evaluation, it found improvements in performance, time to market and security using Decentriq’s confidential computing-based platform powered by Intel SGX.

Intel SGX is one of the main technologies powering confidential computing today, enabling new cloud use cases that are particularly beneficial for organizations that deal with or aim to exchange sensitive data with others on a regular basis. It helps protect data at all stages by performing computation in a hardware-based Trusted Execution Environment (TEE). These isolated environments help secure data, intellectual property and code to help prevent unauthorized access of applications and data while they are in use.

Why It Matters: As the insurance industry evolves into an even more data-driven service, gaining access to confidential datasets from trusted sources will drive new business segments, transparency into supply chains and more succinct insurance pricing models.

Confidential Computing, powered by Intel SGX technology and delivered by Decentriq, helps unlock data sources that were previously unattainable in real time. Not only does it significantly improve privacy protection of all data, it also enables companies to extract actionable insights from this data and optimize performance and time to market. This allows organizations to gain access to a variety of datasets without jeopardizing consumer privacy.

More Context: Intel Software Guard Extensions (Intel SGX) | Confidential Computing | Intro to Confidential Computing and SGX | Swiss Re Explores Further Protection of Critical Data Using 'Confidential Computing' (a proof of concept enabled by Decentriq’s Confidential Computing using Intel Software Guard Extensions) | Intel Security News

About Intel

Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.

© Intel Corporation. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005416/en/

Jennifer Foss

1-425-765-3485

jennifer.foss@intel.com

Source: Intel

FAQ

What is Swiss Re's collaboration with Decentriq about?

Swiss Re is partnering with Decentriq to utilize Intel SGX technology for enhancing data privacy and performing analytics on sensitive datasets.

How does Intel SGX technology improve data privacy?

Intel SGX provides a hardware-based Trusted Execution Environment (TEE), which secures data during processing, enhancing overall data privacy.

What benefits did Swiss Re find in its proof of concept?

Swiss Re identified improvements in performance, time to market, and security while using Decentriq's confidential computing platform.

How does confidential computing impact the insurance industry?

Confidential computing enables better access to sensitive datasets, fostering new business opportunities and enhancing transparency in pricing models.

What was the specific area of focus in Swiss Re's proof of concept?

The proof of concept focused on marine insurance, utilizing a shipping dataset to overcome data privacy and competitive concerns.