Tokio Marine & Nichido is committed to expanding the scope of its value proposition by addressing social issues such as disaster prevention and mitigation (resilience), cyber security, and healthcare.

Tokio Marine & Nichido is developing a new solutions business beyond the scope of existing insurance.

Tokio Marine & Nichido's strength lies in the diversity and abundance of its customer contact points in the non-life insurance business. At the time of policy renewal, employees and agents had ample opportunities to hear customers' concerns and opinions about various issues unrelated to insurance. However, regulations limiting the scope of services offered prevented the Company from offering solutions beyond insurance products. The revision of the Insurance Business Act has eased this restriction, enabling it to provide a broader range of solutions. The Company's Mid-term Business Plan that started in 2024 sets the expansion of its solutions business as a critical strategy, encouraging tackling social issues in a wide range of areas from now on.

One of the new initiatives is to propose possible solutions through the business matching platform "Bizicle by Tokio Marine & Nichido," which started in fiscal 2024. Using the platform, employees and agents across the country introduce customers who have issues in non-insurance areas to solutions offered by one of the group companies and affiliates. Karen Ono of the Tokio Marine & Nichido Sales Planning Department explains:

"Our customers' issues are truly diverse, ranging from disaster prevention and mitigation, human resources and labor, healthcare, and cybersecurity to business management issues. We aim to protect our customers in their time of need as well as their everyday lives by making solutions available for their various problems. Through the platform, we support employees and agents in presenting non-insurance options to our customers and propose new value outside insurance to deal with customers' social issues. By doing so, we hope to grow our solutions business into a new pillar of revenue, next to our insurance business."

"Bizicle by Tokio Marine & Nichido" is an IT tool jointly developed with BusinessTech, a consolidated subsidiary of MUFG Bank, Ltd. The business matching scheme will be rolled out in earnest using this platform.

We offer a variety of practical solutions proposed mainly by group companies. These include consulting services on quantitative evaluation of natural disaster risks (disaster prevention and mitigation), seminars for employees on balancing work and nursing care (healthcare), and AI robot services for operation control support systems (mobility).

"In addition, we have integrated solutions covering a wide range of areas offered by partner companies outside of Tokio Marine Group," says Ono. "Our insurance agents can introduce their customers to the solutions best suited for their issues and needs. Meanwhile, we hope informing our customers of solution providers through the platform and utilizing the data accumulated there will also enable us to propose better insurance products and solutions."

Emphasizing the solutions business is not an initiative by Tokio Marine & Nichido alone. The entire Tokio Marine Group is focusing its full efforts on the business. In November 2023, a new company was established as part of the Group: Tokio Marine Smart Mobility Co., Ltd. As the name suggests, it offers mobility solutions for businesses, including reducing the risks and costs involved in transportation and logistics, improving the work environment, and strengthening the capability to respond to environmental challenges and automated driving. Chieko Susumu of Tokio Marine Holdings explains:

"Today, mobility issues are multifaceted and go beyond accident prevention and safe driving. They involve the decline in transport capacity due to the decrease in the number of drivers (2024 issue), vehicle fleet management, driver labor and health management, and responses to decarbonization and automated driving. Tokio Marine Group has offered various insurance products for over 100 years, starting with automobile insurance. More recently, we have been developing solutions using technology, such as auto insurance coverage with built-in drive recorders and accident reduction support service using an AI-based risk level assessment model. By bolstering these solutions, we want to better respond to customer needs and social challenges."

For example, the complexity of mobility-related social issues in the transport industry involves the interests of cargo owners, the reality of diverse cargo types and delivery methods, and consumer needs that are inextricably entangled. It is challenging for any one company to solve such a problem singlehandedly. An optimal solution requires collaboration among all mobility players across the industry.

In response to this difficulty, Tokio Marine Smart Mobility offers the fleet management service "MIMAMO DRIVE." The service was introduced as the first initiative of its kind in April 2024 in collaboration with Tokio Marine & Nichido. It supports corporate vehicle fleet management and safe driving by tapping into Tokio Marine Group's accident reduction and data analysis know-how. Susumu elaborates:

"MIMAMO DRIVE allows companies to monitor real-time vehicle activities and diagnose safe driving based on the vehicle operator's driving tendencies through data collected by IoT devices installed in the vehicle. Daily reports are created automatically from the data acquired, reducing the driver's workload. We hope to reduce vehicle management risks and costs for the businesses through MIMAMO DRIVE."

Social issues concerning mobility must be tackled across the industry rather than by individual companies. That is why the Group will involve various players to support efforts to optimize the comprehensive whole.

"We want to use Tokio Marine & Nichido's diverse data, know-how, and customer contacts to promote the use of the latest mobility technology and collaboration with partners from different industries," says Susumu. "We are considering launching driver labor and health management services. We will continue to assess our customers' issues quickly and accurately to develop and provide new solutions."