Investing in Japan
Latest UpdatesGerman InsurTech startup simplesurance establishes joint venture in Tokyo
Nov 06, 2019
simplesurance is one of the leading InsurTechs (insurance service based on digital technology) that was funded d in Berlin in 2012.The company provides a platform offering insurance that users can subscribe to in a one-stop manner. It currently employs more than 150 people from 30 different nations and offers services in 29 countries. The company has more than 2,500 B2B partners like OnePlus, Huawei Technologies, Rakuten, Revolut, Real and computeruniverse, across the world in a wide range of industries, including e-commerce retailers, banks and well-known insurance companies, like Tokio Marine Holdings Inc and Allianz.
Moreover, simplesurance provides customers in nine countries an easy and convenient way to purchase product insurances in its own B2C platform.
Through the integration into e-commerce sites or apps, the user can subscribe to insurance at the same time of the purchase, which is very convenient for the user as there is no need to re-input personal information.
The application also allows e-commerce business operators to implement cross-selling of insurance tailored to product services within their sites and allows insurance companies to expand sales channels to online buyers.
Receiving funding from Tokio Marine Holdings Inc., with which it also formed a business alliance, simplesurance established its first overseas subsidiary in October 2018, simplesurance Joint Stock Company, with the aim of concquering the Japanese market.
To assist with the establishment of the company’s base in Japan, the JETRO Invest Japan Business Support Center (IBSC) provided consultation on labor and tax matters and referred a local PR agency and recruitment agency.