October 2, 2018
Tokio Marine Holdings, Inc.
Strategic Investment in Simplesurance.Inc
Tokio Marine Holdings, Inc. (President and Group CEO: Tsuyoshi Nagano, "TMHD") has made a strategic investment through its wholly owned subsidiary, Tokio Marine & Nichido Fire Insurance Co. Ltd. ("TMNF"), in Simplesurance, Inc. ("SISU"), a German Insurtech company. TMNF has also entered into a business alliance with SISU.
In recent years the insurance market is rapidly changing and evolving at a speed faster than one can imagine. The advancement of AI and IoT (Internet of Things) is changing many things in our daily lives, society and industry as a whole and is leading to the development of digital technology in various areas of the insurance field. For example, research and initiatives have begun into using digital technology to make more efficient ways of purchasing insurance and insurance pay-outs faster.
The Tokio Marine Group, in its new mid-term business plan "To Be a Good Company 2020", will anticipate changes to customers' needs and the business environment and provide revolutionary products and services. Concurrently, we will create new touch points between our customers, agents and insurance companies through the use of new technologies. We aim to provide customers with more convenient and speedy services by utilising technology in all of our customer contact points and business processes.
Thus, taking this into consideration TMHD has decided to invest in SISU - a prominent European Insurtech company who has experience in creating technology that can be integrated into the websites or apps of EC companies, retailers, banks and other platforms that have many customers that allows for insurance to be sold easily. As a result, TMHD will now be able to utilise SISU's state of the art Insurtech throughout the Japanese and Asian market as SISU's strategic partner, providing its customers with more efficient ways to purchase insurance.
TMHD aims from here onwards to continue researching and developing cutting-edge Insurtech whilst creating a safe and secure society so that we can support its customers and society when they need us most.
２．Strategic objective of this investment
SISU is an Insurtech company that provides a platform throughout the entire of Europe that uses innovative technology at the checkout area of EC sites or apps that allows for customers to purchase insurance at the same time with a product in a one-stop process. SISU is said to be theleading provider with the most experience in this area and is currently bringing innovation to the EC market.
As SISU's strategic partner we will be able to use its technology and platform in order to speedily provide clients with tools that will allow them to easily sell insurance such as Overseas Travel Insurance and Personal Accident Insurance through their websites or apps. Our customers will benefit from our new hassle-free insurance application procedures that will allow them to easily purchase insurance at the same time as buying a product or service from an EC site without having to re-enter their personal details.
(We, TMHD, intend on providing this new fast application process to our customers as quick as possible, making insurance application processes more efficient all over the world.）
In the warranty field, SISU has technology that allows for claims to be made via smartphone which comes with a fraud-detection system. Through our collaboration with SISU we will be able to utilise such cutting-edge technology in order to provide more of our customers with the high-quality services possible.
３．Overview of SISU
(1) Company Name
(2) Registered Address
Robin Von Hein CEO
(4) Line of business
Insurance sales plug-in modules
(5) Major Shareholders
Rheingau Founders, Allianz, Rakuten etc.
(6) Number of employees
Approx. 150 (as of September 2018)
(7) Year of establishment
Tokio Marine Holdings Inc. published this content on 02 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 October 2018 06:06:07 UTC