PriyaPatel
TLDR:
The Japanese FinTech leader Smartpay has partnered with Chubb Insurance to accelerate the digitisation of the Japanese insurance industry. Anticipated to Surge to 80tn Yen ($500bn) by 2027, the Japanese market is seen as an untapped vein in the insurance realm. With a focus on elevating user experiences, advancements are expected in personalised purchase journeys and fortified digital security measures across the space. By joining forces, Smartpay and Chubb aim to offer pioneering digital insurance solutions in Japan, starting with embedded insurance, leveraging Smartpay’s domestic achievements and Chubb’s expertise in the insurance sector to achieve this.
Key Elements:
- Smartpay partners with Chubb Insurance to revolutionize the Japanese insurance industry
- Japanese market set to grow to $500 billion by 2027
- Focus on digitization and user experience in the wake of COVID-19
- Smartpay and Chubb to offer embedded insurance solutions in Japan
Japanese FinTech leader Smartpay has partnered with Chubb Insurance to accelerate the digitisation of the Japanese insurance industry. With the Japanese market expected to grow to 80tn Yen ($500bn) by 2027, there is significant potential for innovation and growth in the industry. The partnership between Smartpay and Chubb aims to focus on elevating user experiences by offering embedded insurance solutions to meet the changing needs of consumers in the digital age. By integrating insurance into the customer journey at checkout, users can seamlessly purchase insurance that complements the products they are purchasing, tailored to their needs.
Smartpay’s strong presence and partnerships in Japan, including collaborations with the country’s top banks and credit unions, position them as a key player in the market. By leveraging Chubb’s expertise in the insurance sector, the partnership seeks to revolutionize the industry with pioneering digital insurance solutions. The focus on personalized purchase journeys and digital security measures highlights the commitment of both companies to meet the evolving demands of consumers and drive innovation in the Japanese insurance market.
