Palantir Technologies (PLTR, Financials), a software company known for helping businesses and governments analyze large amounts of data, has expanded its agreement with Mexican insurer GNP Seguros.
GNP Seguros, Mexico's largest insurance company, is using Palantir's artificial intelligence platform across more parts of its business.
The technology is helping the insurer detect possible claims fraud and improve underwriting decisions. It is also being used to make the claims process more efficient.
For Palantir, the expanded deal is another example of how its AI software is moving into everyday business operations. Insurance companies handle large amounts of customer and claims data, giving Palantir another market where its technology could play a bigger role.
The next focus for investors will be whether Palantir can turn existing customer relationships into broader AI deployments and larger contracts.