Tokio Marine taps into Singapore insurtech programme

Published in: Risk, Risk management, Corporate strategy, ROW, Software - IT

Companies: Tokio Marine Holdings, Plug and Play

Japanese property and casualty insurer Tokio Marine Holdings has secured a partnership with Plug and Play's insurtech programme in Singapore.

As part of the partnership, Tokio Marine said it will have access to Plug and Play's network and the opportunity to work with start-ups from the Asia-Pacific region.

Tokio Marine first established a partnership with the Silicon Valley-based early stage investor, which also runs accelerator programmes, in December 2017.

Hidemi Harada, vice president and head of digital strategy of Tokio Marine Asia, said the insurer is looking to leverage Plug and Play's network for cross-industry engagement in areas such as the Internet of Things, healthcare and mobility.

Plug and Play launched its insurtech programme in Singapore last August and has accelerated 49 start-ups to date.

The partnership follows Tokio Marine’s strategic investment in German insurtech firm, Simplesurance (SISU), last autumn via its wholly owned subsidiary Tokio Marine & Nichido Fire Insurance.

Tokio Marine’s digital innovation lab in Singapore - established in October 2018 -  is the group’s third after establishing labs in Tokyo and Silicon Valley in July 2016 and November 2016 respectively.

Ronan McCaughey