Today's print edition Home Delivery Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance plan to merge in April 2027 The merger will create the biggest nonlife insurer in Japan overtaking current industry leader Tokio Marine & Nichido Fire Insurance.googletag.cmd.push(function() { googletag.display('div-gpt-ad-1499653692894-0'); }); The move is aimed at making operations more efficient and boosting profitability as Japanese nonlife insurers face the challenges of a shrinking domestic market due to societal aging and increasing benefit payments because of a series of large-scale natural disasters The merger between Mitsui Sumitomo Insurance and Aioi Nissay Dowa will consolidate the Japanese nonlife insurance industry into three major firms also including Tokio Marine and Sompo Japan Insurance Mitsui Sumitomo Insurance and Aioi Nissay Dowa had ¥2.99 trillion ($20 billion) in premium revenue together in the year ended in March last year exceeding Tokio Marine at ¥2.42 trillion and Sompo Japan at ¥2.18 trillion Aioi Insurance and Nissay Dowa General Insurance combined operations under the holding company Aioi and Nissay Dowa merged that October to become Aioi Nissay Dowa Mitsui Sumitomo Insurance's forte is with corporate clients while Aioi Nissay Dowa focuses more on individual clients and auto insurance In a time of both misinformation and too much information quality journalism is more crucial than ever.By subscribing Your subscription plan doesn't allow commenting. To learn more see our FAQ Sponsored contents planned and edited by JT Media Enterprise Division MS&AD Insurance Group Holdings has announced its decision to proceed with specific discussions and preparations for the merger of Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance within the group The target date for the merger is in April 2027 Note that your comment may be edited or removed in the future and that your comment may appear alongside the original article on websites other than this one more » more » more » more » more » Insurance Asia website works best with Javascript enabled Please enable your javascript and reload the page The merged entity could equate to the Japanese insurer holding the top market share with the merger scheduled for April 2027.  The decision was made at a Board of Directors meeting on 28 March The merger aims to strengthen MS&AD’s domestic non-life insurance business and support the group's vision of becoming a world-leading insurance and financial entity.  The company plans to enhance compliance measures following recent price-fixing and information leakage incidents.  The merged entity could equate to the Japanese insurer holding the top market share in the non-life insurance sector.  BRINGING YOU THE LATEST EDTECH NEWS AND VIEWS FROM AROUND THE WORLD The initiative is backed by Aioi Nissay Dowa Insurance enabling Natcap’s expansion into Japan and East Asia and supporting companies in integrating nature-related financial risks into decision-making Aioi R&D Lab-Oxford was founded through a partnership between Aioi Nissay Dowa Insurance The research hub focuses on applying AI to global challenges The collaboration aims to address the growing financial risks posed by biodiversity loss Companies face increasing regulatory requirements such as the Taskforce on Nature-related Financial Disclosures (TNFD) and the Corporate Sustainability Reporting Directive (CSRD) mandating them to measure and act on their environmental impact uses Natcap’s proprietary nature intelligence platform to conduct automated biodiversity risk assessments It integrates geospatial data and AI-driven insights to support businesses in incorporating nature-related risks into financial decision-making and sustainability strategies "Businesses are increasingly being held accountable for their environmental impact with new regulations requiring them to measure biodiversity data is often scarce and rarely aligned with financial risk assessment we are supporting the refinement and broader adoption of a pioneering solution that enables businesses to integrate nature into their strategies while giving regulators and customers greater confidence in their sustainability commitments." A key feature of the solution is Natcap’s Nature Risk Library which contains over 1,000 documented nature-related risks Developed with input from sustainability managers the resource offers businesses tailored risk assessments allowing for informed financial planning and risk management The platform’s scalable design makes it adaptable across industries and geographies consolidating nature-related risk data into a single It enables businesses to set defensible risk metrics and efficiently allocate resources toward nature-positive actions and biodiversity loss threatens the stability of global ecosystems Innovation and cross-industry collaboration are essential to tackling these challenges “We are proud to be a part of the MS&AD global landscape through our partnership with Aioi R&D Lab-Oxford This collaboration enables us to accelerate the expansion of our offering to help businesses identify prioritize and manage their nature-related risks." or transmitted in any form or by any means without the prior written permission of Paxton Media Ltd The board of Mitsui Sumitomo and Aioi Nissay Dowa (MS&AD) Group has voted to proceed with discussions and preparations to merge two core non-life companies within the group You have reached the limit for gifting for this month Insurance Insider is the premier intelligence solution for the London and global (re)insurance markets Accessibility | Terms of Use | Privacy Policy | Cookie Policy the third largest non-life insurance company in Japan please disable the ad blocking feature and reload the page This website uses cookies to collect information about your visit for purposes such as showing you personalized ads and content By clicking “Accept all,” you will allow the use of these cookies Users accessing this site from EEA countries and UK are unable to view this site without your consent The two companies aim to complete the merger by April 2027 as they look to reduce administrative costs and improve product attractiveness to drive growth The merged company will become the largest non-life insurance company in Japan and the industry reorganization that has been underway for a quarter of a century will enter its final stage decided on the merger at a board meeting held on Friday both companies are to make a formal decision on proceeding with merger discussions A special secretariat will be established to discuss such things as the merger ratio the name of the new company and the location of the head office their combined domestic net premiums written will total ¥2.99 trillion on a simple aggregate basis for the fiscal year that ended March 2024 Tokio Marine & Nichido Fire Insurance Co. the current largest non-life insurance firm has domestic net premiums written worth ¥2.41 trillion The two companies plan to quickly reduce overlapping business expenses and shift to a structure that can more efficiently generate profit They also plan to bring together their respective expertise and develop unique products The business environment surrounding domestic non-life insurance is becoming increasingly severe In addition to the market shrinking due to the declining birthrate and aging population as well as the decreasing interest in cars among young people insurance payments have been increasing due to factors such as the rising cost of car repairs and the frequent occurrence of natural disasters The merger is also aimed at expanding the scale of the company and increasing its competitiveness Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance integrated their managements in 2010 and came under the umbrella of MS&AD Holdings Mitsui Sumitomo Insurance has a large customer base composed mainly of corporations in the Mitsui and Sumitomo groups Aioi Nissay Dowa has close ties with Nippon Life Insurance Co and its strength is in personal automobile insurance The two companies have been expanding their businesses under a strategy of “reorganization by function,” in which they respond to customer needs by making the most of their respective areas of expertise The two companies have been integrating their systems The integration is expected to be largely completed by the end of fiscal 2025 and the companies have decided that they are now able to begin discussions on a merger The domestic non-life insurance industry since 2000 has seen major restructuring due to increased competition caused by its liberalization Mitsui Sumitomo and Aioi Nissay Dowa have a total market share of more than 80% Our weekly ePaper presents the most noteworthy recent topics in an exciting © 2025 The Japan News - by The Yomiuri Shimbun MS&AD Insurance Group Holdings Inc has announced plans to integrate its two primary non-life insurance subsidiaries – Mitsui Sumitomo Insurance Co Ltd and Aioi Nissay Dowa Insurance Co Ltd – with the aim of completing the merger by April 2027 approved by MS&AD’s board on March 28 signals a structural shift intended to consolidate operations and create a single entity with the largest market share in Japan’s non-life insurance sector The group said the merger would position it to adapt more efficiently to domestic market conditions and global risk trends “Our group has the vision of ‘Creating a world-leading insurance and financial group.’ To achieve this vision and support the development of a resilient and sustainable economy and society we will proceed with discussions and preparations to merge Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance to build a more robust domestic non-life insurance business structure,” it said MS&AD said that the unified organisation will combine operational capabilities from both companies seeking to streamline administrative processes and enhance its ability to deliver insurance products and services “This merger will establish a non-life insurance company that holds the top market share in the domestic non-life insurance sector,” MS&AD said “Our group aims to enhance the value we provide to customers by integrating the strengths of Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance in the domestic non-life insurance business.” The company also noted that the integration would focus on operational efficiency and regulatory compliance “We are committed to strengthening efforts to meet customer trust and expectations while consistently securing profits commensurate with the size of the top line we aim to establish a system to offer the best products and services to customers by investing accumulated capital into growth areas such as international business and digital/risk-related services,” it said The announcement coincided with administrative action from Japan’s Financial Services Agency (FSA) which issued business improvement orders to both Mitsui Sumitomo and Aioi Nissay Dowa The FSA directive follows recent issues involving improper handling of personal data and violations related to fair competition practices Updated plans must be submitted to the FSA by May 30 with implementation to begin upon approval Ongoing progress reports are to be filed quarterly MS&AD issued a statement acknowledging the directive and outlining steps to improve group oversight and ADI] take the administrative actions very seriously and apologise for inconvenience or concern this situation may have caused our customers and other stakeholders,” it said MS&AD plans to restructure its board governance The company will move toward a model with an audit and supervisory committee and a majority of independent directors aiming to improve internal oversight across group companies MS&AD indicated it would continue investing in growth areas such as international insurance The group said it plans to optimise its capital allocation to support long-term profitability and resilience in a competitive insurance landscape including executive leadership and branding are expected to be disclosed as discussions progress Please view the main text area of the page by skipping the main menu. The page may not be displayed properly if the JavaScript is deactivated on your browser Your browser does not support JavaScript, or it is disabled．Please check the site policy for more information Vox Populi Vox Dei is a daily column that runs on Page 1 of The Asahi Shimbun a small shrine on the grounds of Shimogamo Jinja Shrine in Kyoto is known to have a “god of matchmaking” as its guardian deity numerous “ema” (small wooden votive plaques) were hung featuring written prayers for happy outcomes in romance “Please let us stay happily together,” and another “Please let us bring forth a family that’s filled with happiness.” But there were not many plaques with readily legible prayers many were hidden under scarlet privacy stickers “The Law on the Protection of Personal Information has raised the public’s awareness for privacy and this has rapidly increased the number of visitors using the privacy stickers.” The shrine first introduced the stickers about 15 years ago after a priest and other shrine officials witnessed a high school student on a school trip being teased mercilessly by classmates who saw the student’s ardently romantic prayer on an ema This became the cue for the shrine to order custom privacy stickers and leave them on the counter where visitors wrote their messages on ema the stickers came to be used in a whopping 90 percent of cases hardly anyone bothers with privacy protection if their prayers are for passing school entrance exams or being cured of some illness “For an overwhelming majority of sticker users it’s invariably about marriage or romance,” he explained “And we reassure them that even though their prayers cannot be seen on their ema (because of the stickers) the ema goes back to the Nara Period (710-794) It spread from Shinto shrines to Buddhist temples and was quite popular during the Edo Period (1603-1867) some supplicants apparently wished to remain anonymous There still remain pieces inscribed simply with the supplicant’s year of birth according to the Chinese zodiac and their gender After completing my reporting assignment at Aioi-no-Yashiro I decided to take advantage of this perfect opportunity to write my prayer on an ema: “May all wars disappear from Earth.” and tied my ema tightly to the display shelf Vox Dei is a popular daily column that takes up a wide range of topics the column provides useful perspectives on and insights into contemporary Japan and its culture Plague-fighting prayer tablets offered at Kasuga Taisha shrine People put faith in Tokyo shrine as concert tickets hard to come by grandpa go wild as Nootbaar plays ‘Cinderella’ Information on the latest cherry blossom conditions Please right click to use your browser’s translation function.) A series based on diplomatic documents declassified by Japan’s Foreign Ministry Here is a collection of first-hand accounts by “hibakusha” atomic bomb survivors chefs and others involved in the field of food introduce their special recipes intertwined with their paths in life A series about Japanese-Americans and their memories of World War II In-house News and Messages No reproduction or republication without written permission 11 of the new talents to be seen at the Salone Satellite frequented by young people and entrepreneurs in search of tomorrow’s big names The largest diffusion magazine in the luxury & design world Privacy Policy(function (w,d) {var loader = function () {var s = d.createElement("script") tag = d.getElementsByTagName("script")[0]; s.src="https://cdn.iubenda.com/iubenda.js"; tag.parentNode.insertBefore(s,tag);}; if(w.addEventListener){w.addEventListener("load" false);}else if(w.attachEvent){w.attachEvent("onload" loader);}else{w.onload = loader;}})(window The collaboration will allow graduates from Oxford’s Autonomous Intelligent Machines and Systems (AIMS) Centre for Doctoral Training (CDT) to engage in real-world problem-solving across key AI research areas the AIMS CDT provides a four-year doctoral programme to equip students with theoretical knowledge and hands-on experience The addition of a 10-week internship with Aioi R&D Lab - Oxford will support students’ understanding by involving them in active AI projects that are designed to tackle global challenges Director of the EPSRC Centre for Doctoral Training in Autonomous Intelligent Machines and Systems described the partnership as an opportunity for students to bridge the gap between academia and industry: “The AIMS CDT is immensely grateful to the Aioi R&D Lab - Oxford for its support Building on an existing rich partnership between the Lab and the University of Oxford this support will provide AIMS’s superb students with an opportunity to both pursue cutting-edge research and to contribute meaningfully toward creating social value via digital transformation Partnerships like this are central to AIMS and are vital in driving forward scientific development and impact “The types of projects that students work on can vary wildly from using machine learning algorithms to produce influential papers on the effectiveness of different Covid-19 interventions to leveraging their knowledge of AI to investigate the moon’s shadows The projects undertaken during the internship will span various applications of AI These include developing machine learning algorithms to assess the effectiveness of interventions during the Covid-19 pandemic and leveraging AI technology to explore natural phenomena such as the movement of shadows on the moon and tracking sea turtles in Cape Verde a joint venture between Aioi Nissay Dowa Insurance (ANDI) is dedicated to using AI to create solutions for global issues.  ”The mission of the Lab is to bring humans and AI together to create shared value around the world we are pioneering game-changing insurance solutions and addressing the most pressing global challenges of today and tomorrow from autonomous mobility and climate change to ageing populations “The Lab is deeply committed to investing in talent and fostering a collaborative environment where researchers and innovators can work together to translate cutting-edge research into practical solutions.  By nurturing the next generation of AI experts we aim to create a more secure and prosperous future for all.” One key area of research focuses on developing AI-powered insurance solutions tailored for autonomous vehicles to make driving safer and more sustainable by detecting early signs of cognitive decline in older drivers CEO of Mind Foundry and a board member at Aioi R&D Lab – Oxford emphasised the importance of nurturing AI talent: “The brilliant minds emerging from Oxford University have been instrumental in shaping the field of Artificial Intelligence as we know it today We are proud to continue this legacy of innovation by supporting AIMS students in their career journeys and utilising this Lab as a bridge that connects cutting-edge academic ideas with the world’s most important problems.” with the target date for the merger set for April 2027 By Arata Hashizume and Miyabi Endo / Yomiuri Shimbun Staff Writers the domestic non-life insurance sector will be dominated by three mega-companies representing a shift to a structure similar to that of the banking industry The sector’s reorganization over the past quarter century which kicked into full gear during a period of liberalization in the insurance sector and the accompanying intensification of competition president of both MS&AD Insurance Group Holdings president of Aioi Nissay Dowa Insurance Co. director-general of the supervision bureau at the Financial Services Agency (FSA) in Kasumigaseki during which the two presidents informed Ito that they planned on Friday to proceed with discussions on a merger of their companies “We aim to become a world-leading insurance and financial group by working toward consolidating our strengths and improving management efficiency,” MS&AD Insurance Group Holdings emphasized in an announcement made on Friday where population decline and other factors have made little room for further growth MS&AD Group has shifted toward the judgment that a merger of the two companies is more desirable than the current structure in which the two firms coexist under a joint holding company a series of twists and turns took place due to persistent reluctance on the part of Aioi Nissay Dowa Insurance whose earning power falls short of Mitsui Sumitomo Insurance’s had been rife with concerns that it “might be swallowed up” by its merger partner Mitsui Sumitomo Insurance’s net income totaled ¥167.7 billion What Niiro was concerned about in particular was how the company’s employees would be treated He laid bare his concern to those around him “Unless the merger is made in a manner that is mutually satisfying we will end up having many unhappy people.” senior FSA agency officials asked Mitsui Sumitomo Insurance to “proceed carefully with dialogue.” Funabiki and Niiro have had a series of behind-the-scenes talks since last year to reconcile their views Funabiki got other related major companies on board with the merger plan the non-life insurance industry started to see the effects of moves to liberalize the insurance sector such as allowing insurers to freely set their premiums Those moves brought about the collapse of the “convoy system,” under which government regulation had prevented weak companies from going under and led to a succession of mergers and corporate integrations amid an intensification of market competition The birth of Sompo Japan Nipponkoa Insurance Inc — through a merger of Sompo Japan Insurance Inc in 2014 ushered in a domestic non-life insurance sector comprised of four major insurers the next chapter in the history of the sector is being written The crucial moment for the merger has yet to come How to allot executive posts and what to do with employees who become redundant are the toughest issues to be tackled and finding a way to conclude the deal with mutual satisfaction will be an uphill battle “The merger ratio is connected to the number of executive posts allocated so that will be a difficult topic of discussion,” said a senior executive of Aioi Nissay Dowa “Disputes over the name of the new company are also inevitable The utilisation of AI technology has allowed the deterrence of fraud that were previously not visible to human detection Property and casualty insurance company Aioi Nissay Dowa Insurance took home two major accolades at the coveted Insurance Asia Awards 2024 for its development of an Auto Insurance Artificial Intelligence (AI) Fraud Detection System The innovation comes amidst the problem of fraudulent insurance claims plaguing the non-life insurance industry With Aioi Nissay Dowa Insurance having approximately 4.2 million records of repair costs related to past auto insurance claims the company believes that having AI is going to help in discovering characteristics of repair shops and how to detect clues to fraud before they become visible to the human eye Auto Insurance AI Fraud Detection System enables effective investigation methods by incorporating the technology into actual damage investigation operations and proactively conducting onsite investigations of repair shops with high AI detection scores Through the data of actual fraudulent insurance claims and repair costs the system succeeds in scoring the likelihood of fraud at individual repair shops A unique and innovative investigation method wherein humans and AI cooperate to implement fraud detection countermeasures at repair shops have been developed through this capability AI can respond flexibly to new fraud claims by learning from the accumulating data with the more data accumulated leading to more accuracy on its detections there have been no examples in Japan of machine learning using repair cost data or analysing the characteristics of repair shops using vast amounts of data making it a very creative and innovative initiative to explore ways to prevent fraudulent claims by utilising big data,” the company said It added that AI detection has revealed the possibility of fraudulent claims even at repair shops that were previously considered in good standing and adding AI judgement to human judgement has led to more accurate detections of previously undetectable fraudulent claims Aioi Nissay Dowa Insurance garnered the Claims Initiative of the Year - Japan and the Domestic General Insurer of the Year - Japan category wins for this groundbreaking initiative Insurance Asia Awards celebrates insurance companies that have redefined traditional boundaries through groundbreaking innovation and have left a profound impact on customers and in the industry Mass media is doing a bit of soul-searching and asking questions about the reelection of Hyogo Gov In what became a nationally covered "scandal," both regional and national print and broadcast media devoted hours of airtime and column space every day for months to his alleged power harassment case This type of media behavior is common in Japan where traditional mass media often enter a feeding frenzy whenever a scandal breaks giving extensive coverage to even the most trivial details no matter how insignificant."googletag.cmd.push(function() { googletag.display('div-gpt-ad-1499653692894-0'); }); Saito was first elected as the governor of Hyogo in 2021 for a four-year term every new Hyogo governor had been the immediate deputy governor before ascending to the top position with each retiring governor passing the baton to their deputy Saito broke this tradition by running on a reformist platform that emphasized economic growth and full transparency in decision-making He publicly challenged several major projects initiated by his predecessor which seems to have made him some enemies along the way Sponsored contents planned and edited by JT Media Enterprise Division. Sign in 一般社団法人 (General Incorporated Association) Tokyo FinTech is registered as a non-profit organization in Japan, promoting the domestic ecosystem through innovation Listen has concluded a capital and business alliance agreement with Aeronext which has core technologies essential for safe drone flight and is deploying a new smart logistics system called “SkyHub” it is said that around 35% of cargo nationwide will become undeliverable by 2030 due to the driver shortage caused by the “2024 Issue” resulting from the revision of the Labor Standards Act in April 2024 Particularly in rural areas with low delivery efficiency and improving delivery efficiency in the last mile of final delivery has become an urgent issue which combines existing ground transportation and drone delivery to streamline and optimize the flow of goods thereby making last-mile logistics sustainable Aioi Nissay Dowa Insurance has also participated in the “Nationwide New Smart Logistics Promotion Council” since fiscal 2023 to study solutions to the issues facing the transportation industry Aioi Nissay Dowa Insurance has now concluded a capital and business alliance agreement with Aeronext which is deploying “SkyHub” that combines ground transportation and drone delivery to achieve high delivery efficiency and profitability with the aim of promoting the adoption of “new smart logistics,” among other objectives a comprehensive insurance scheme covering multiple modes of transportation and service providers as well as support for the safe operation of drones newly used for logistics purposes Aioi Nissay Dowa Insurance aims to contribute to solving regional and social issues by promoting the adoption of new smart logistics through the development and provision of insurance packages for new smart logistics and drone telematics insurance Aioi Nissay Dowa Insurance will develop an insurance package for new smart logistics that comprehensively covers the construction of primary cargo collection sites and damage to cargo and drones during drone delivery Aioi Nissay Dowa Insurance aims to offer reasonable insurance premiums by analyzing data obtained from air traffic control systems and designing premium rates based on actual risk profiles With the investment agreement dated April 26 Aioi Nissay Dowa Insurance is participating in the investment round raised by Aeronext Drones used in new smart logistics can also be utilized as emergency delivery drones in times of disaster enabling the delivery of pharmaceuticals and the assessment of damage conditions In addition to developing and providing insurance products and services Aioi Nissay Dowa Insurance believes that establishing a system to utilize drones during normal times will lead to a prompt response during disasters and aims to build an operational model considering disaster response and create new value in new smart logistics Should you live in Tokyo, or just pass through, please also join our meetup. In any case, our YouTube channel and LinkedIn page are there for you as well. promoting the domestic ecosystem through innovation Japan FinTech Observer | Tontines | ex-Goldman & Barclays Tech MD | 👉 Individual articles have moved to: https://www.fintechobserver.com Help 2019―Toyota Motor Corporation (Toyota) and the MS&AD Insurance Group's Aioi Nissay Dowa Insurance Co. (Aioi Nissay Dowa Insurance) jointly developed the Telematics*1 Damage Service System (the "Service") a new accident response service that uses driving data acquired from connected cars*2 to enable visualization of driving conditions such as driving route and driving behavior at the time of an accident and uses AI to achieve advance accident detection The Service will be made available starting in March 2020 on Toyota and Lexus brand connected cars*3 with supported models to be expanded in stages Toyota and Aioi Nissay Dowa Insurance will continue their efforts to achieve a safe and secure traffic environment for society through the use of data acquired from connected cars As a result of recent advances in automobile connected technologies and other areas it has become possible to gather and use vehicle data from connected cars and provide new mobility services Toyota and Aioi Nissay Dowa Insurance jointly developed Japan's first telematics automobile insurance "TOUGH Connecting Car Insurance" that reflects driving behavior*4 offering services such as customer safe driving support functions and insurance premium discounts for safe driving based on driving data acquired from connected cars This insurance product was developed in 2017 and launched in January 2018 over 25,000 customers have enrolled in the "TOUGH Connecting Car Insurance"*4 Compared to customers with Aioi Nissay Dowa Insurance's "TOUGH Vehicle Insurance," another automobile insurance product the accident rate is about 30 percent lower In addition to the above accident reduction efforts Toyota and Aioi Nissay Dowa Insurance jointly developed the telematics system to provide support for prompt and appropriate accident resolution in the event a customer is involved in an accident accident response was conducted by reaching a private settlement through negotiation concerning the attribution of negligence with the other party to the accident based on information gathered from the customer through telephone and written interactions The Service makes use of driving data acquired from Toyota's connected cars making it possible for insurance companies to accurately and objectively ascertain accident conditions the burdens of insurance claim procedures can be greatly reduced customers have access to "I'm ZIDAN",*5 Aioi Nissay Dowa Insurance's 24-hour and Toyota's connected cars can link to Aioi Nissay Dowa Insurance at any time for prompt accident response The Service will be offered to customers who have enrolled "TOUGH Connecting Car Insurance" as a new service By mapping the driving route according to driving data based on information acquired from a connected car and visualizing vehicle data relating to the operating status of the accelerator and steering wheel as well as the operating status of various devices including indicators and safety equipment it is possible to reduce customer burdens to explain the accident and the accident circumstances which could lead to prompt accident settlement which contacts the customer to confirm customer's safety from an Automatic Reporting Desk and makes any necessary arrangements when a major collision is detected was supplemented with an accident detection function that uses AI This function uses an algorithm that was developed by Aioi Nissay Dowa Insurance This algorithm utilizes machine learning using accident data of vehicle installed with telematics device and collision data acquired by crash test This makes it possible to properly recognize the occurrence of accidents and the location of the accident The Fair Trade Commission plans to issue cease-and-desist orders to four major nonlife insurers for forming a cartel over premiums for joint insurance contracts for Keisei Electric Railway The antimonopoly watchdog will make a decision on the orders including requiring the compilation of measures to prevent a recurrence after collecting opinions from the four firms — Tokio Marine & Nichido Fire Insurance Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance The FTC has already informed them of the planned orders according to the sources.googletag.cmd.push(function() { googletag.display('div-gpt-ad-1499653692894-0'); }); The commission notified the four insurers last month of its plan to impose cease-and-desist orders on them for prearranging premiums for joint insurance contracts for the Tokyu group and Sendai International Airport the four insurers started to prearrange premiums for the joint contracts for Keisei Electric Railway in which they shared the risk of covering insurance payments The FTC plans to fine Tokio Marine & Nichido Fire Mitsui Sumitomo and Aioi Nissay Dowa a total of ¥120 million Sompo Japan is expected to avoid the penalty as it voluntarily reported the malpractice under a leniency program The commission is also investigating the insurers over contracts for other clients such as Cosmo Oil the three insurers other than Aioi Nissay Dowa preset successful bidders and bidding prices for tenders held by the Tokyo Metropolitan Government regarding automobile insurance for its official vehicles The FTC plans to issue cease-and-desist orders to the three and Sompo Japan will likely be ordered to pay some ¥35 million in fines Japan's four leading property and casualty insurers admitted on Thursday to having shared contract information of their auto insurance customers with their competitors following a recent series of scandals exposing industry-wide compliance issues The four firms involved are Tokio Marine & Nichido Fire Insurance Co. The information that was shared included customer names The data leak revolved around insurance agencies that handle products from multiple firms When the agencies sent emails containing contract information for a particular firm within their outlets employees of its competitors ended up being included as recipients the insurers did not see the leak as problematic and failed to stop the practice Thursday's announcements came after the four firms vowed to improve compliance following the scandals Japan's financial watchdog ordered these firms to improve their business operations after finding they colluded over insurance premiums for corporate customers and government agencies Sompo Japan was slapped with another order by the Financial Services Agency for maintaining a business relationship with used car chain Bigmotor Co despite the revelations of the dealership's involvement in insurance fraud Scandal-hit Bigmotor worker arrested over roadside tree destruction Sompo CEO to step down over Bigmotor insurance fraud scandal Japan slaps 4 insurers with improvement order over price collusion To have the latest news and stories delivered to your inbox Simply enter your email address below and an email will be sent through which to complete your subscription Please check your inbox for a confirmation email Thank you for reaching out to us.We will get back to you as soon as possible “Every Journey Protected,” encapsulates AND-E's broader vision beyond traditional insurance offerings focusing on the safety and security of every travel experience whether it's a daily commute or a family vacation This rebranding also reflects the company’s mission which it says is to foster a culture of continuous learning and improvement among its employees and underpin its investment in forward-thinking solutions for mobility protection At the centre of AND-E's new brand strategy is also a mission to simplify the insurance process and improve the overall driving experience elaborated on the rationale behind the repositioning highlighting the company's adaptability in the fast-evolving motor insurance market “The pace of change in the motor insurance marketplace has accelerated considerably in the last few years and AND-E has readied itself for this dynamic environment through a combination of acquisition Kainzbauer further emphasised the transformative potential of connected mobility viewing it as a pivotal element in reshaping the future of transportation with significant societal and environmental benefits "AND-E is committed to being part of that future,” he said As a key partner of Toyota and its designated centre of excellence for insurance solutions AND-E is also set to further harness this collaboration through Toyota Insurance Management a subsidiary focused on crafting insurance products for Toyota and Lexus vehicles This partnership aims to merge Toyota's advanced automotive technologies with AND-E's insurance solutions The “Every Journey Protected” ethos will be a central theme across AND-E's communications and operations throughout its European markets Kainzbauer also touched on AND-E's role within the broader mobility ecosystem noting AND-E’s pride in being part of a vibrant community and ecosystem “Our goal is to transform the future of mobility insurance by investing in emerging technologies and empowering our people to become industry thought leaders With our commitment to environmental and social governance we believe we’re helping shape a more vibrant and sustainable society and our new brand position underlines that focus,” he said This new initiative also comes amid a major leadership shakeup for the insurance provider, with AND-E recently naming Jon Hermon as group chief finance officer Please feel free to share your comments below Chief of Innovation at Aioi Insurance Services USA Research Data Scientist formerly of Aioi Insurance Services USA with AWS quantum solution architects Pavel Lougovski and Tyler Takeshita This post details an approach taken by Aioi Insurance Services USA to research an exploratory quantum machine learning application using the Amazon Braket quantum computing service The term quantum machine learning (QML) has multiple definitions by QML we mean the use of a quantum computer to perform a machine learning task on classical data we explore how to use quantum computers to build a proof-of-principle binary classifier for risk assessment in a hypothetical car insurance use case A binary classifier is an algorithm that assigns input data a binary label (0 or 1 We use a hybrid quantum-classical approach and train a so-called quantum neural network to perform binary classification This demonstration is a result of collaboration with Aioi Insurance Services USA — a subsidiary of Aioi Nissay Dowa Insurance which is a member of MS&AD Insurance Group Holdings — a major worldwide insurance organization with close ties to the Toyota group offering Toyota Insurance in 37 countries Aioi USA is a full-service “insurtech” insurance agency that develops data science-based products and services for the transportation industry Aioi analyzes telematics data from SAE driving automation L1 and L2 vehicles to predict driving risks The vehicles are equipped with a multitude of sensors collecting data Aioi would like to assign each vehicle a binary score (safe or fail) that indicates the driving risk score for the vehicle This risk score assignment task is equivalent to binary classification Classical machine learning techniques such as linear regression (LR) or deep learning (DL) have been developed to perform binary classification LR is a popular approach when the data-label mapping is described by a linear function DL offers a way to capture nonlinear behavior in data-label mapping An advantage of QNNs is that they can directly output a classical label value though a researcher still has to input data in the form of a quantum state Whether or not QNNs have practical computational advantage over classical neural nets in DL tasks remains an open question and an area of active research This motivated us to explore how QNNs can be used for binary classification of binary classical data with an eye towards the constraints imposed by near-term hardware on QNN’s circuit design Please note that you need an AWS account if you would like to run this demo on one of the quantum hardware backends offered by Amazon Braket Binary classification is an example of supervised machine learning It requires a training data set to build a model that can be used to predict labels (driving risk scores) We assume that we are given a training set T that consists of M data-label pairs  x xi can represent vehicle sensor data as a N-bit string xi = {x i 0 ,…, x i N-1 } (x i j = {0,1}) and yi = {0,1} can represent the driving risk score associated with xi it is instructive to recall the main steps of constructing a classical neural net (NN) based solution A classical NN takes data x and a set of parameters θ1 ,.., θK (so-called weights) as an input and transforms it into an output label Ȳ = f (x θ1 ,.., θK ) where f is determined by the NN The goal is then to use a training set to train the NN to determine the values of θ1 ,.., θK for which the discrepancy between the output labels and the training set labels is minimized You achieve this by minimizing a suitably chosen loss function L(Ȳ θ1 ,.., θK ) over the NN parameters θ1 ,.., θK using we follow a similar procedure with a couple of modifications our goal is to find a set of parameters θ1 ,.., θK such that for each data point in the training set T the label value  y is close to Ȳ. To achieve this we minimize the log loss function L(Ȳ θ1 ,.., θK ) = -(∑i  yi log(Ȳi)+(1-yi) log(1-Ȳi)) We use the Amazon Braket local simulator that is a part of the Amazon Braket SDK to evaluate L(Ȳ θ1 ,.., θK ) and a classical optimizer from scipy.optimize to minimize it The first step in the implementation of a quantum binary classifier is to specify a quantum circuit that maps classical data onto quantum states We map classical bit values 0 and 1 onto quantum states |0〉 and |1〉 the initial state of a qubit is always assumed to be |0〉 If a quantum algorithm requires the input quantum state to be|1〉 then we obtain it from |0〉 by applying a qubit flip gate X i.e Below we provide code that generates a quantum circuit for preparing an arbitrary multi-qubit computational basis state|ψi 〉 using the Amazon Braket SDK Now that we know how to prepare input quantum states that correspond to classical data the next step is to define and construct a QNN circuit C (θ0 ,.., θ2N ) that we will train to perform binary classification We use the QNN design layout depicted in Figure 1 below It has 2N+1 classical parameters defining: N single-qubit gates Ry(θm) acting on qubits m = 0 N-1; one single-qubit gate Rx(θN) acting on the qubit N and N two-qubit gates XX(θk) acting on the pairs of qubits {0 A QNN circuit layout for binary classification Orange and purple boxes represent single- and two-qubit gates respectively The single-qubit gates Rx and Ry and two-qubit gates XX are standard gates defined in Amazon Braket SDK applies it to an arbitrary input state defined by a classical bit string and measures the values of the label qubit we need to code up the loss function L(Ȳ θ1 ,.., θK ) that we minimize in order to train the QNN to perform binary classification θ1 ,.., θK ) using the local simulator in Amazon Braket we are now ready to train our QNN circuit to reproduce binary classification of a training set T we assume that labels  yi are generated by a Boolean function F(xi) = (∑j xij) mod 2. To emulate data in the training set T we generate eleven random 10-bit strings (data) and assign them labels according to F Run the code above and wait for the optimizer to converge It outputs a message that looks like this when the optimizer finishes We note that our QNN circuit is designed to compute the parity of input data exactly for an appropriate choice of the parameters θ0 ,.., θ2N the global minimum of the loss function using this QNN is zero This is generally not the case in DL applications θ0 ,.., θ2N ) is not convex with respect to the parameters θ0 ,.., θ2N This means that if the final value of the loss function value is not zero the optimizer got stuck in a local minimum Try running the optimizer with a different set of initial parameters pars0 You can also explore various minimization algorithms by specifying method=' ' in the minimize function Calling res.x outputs the optimal values of the parameters θ0 ,.., θ2N and you can use them to run the “optimal” QNN and perform binary classification on the data that is not a part of the training set Try that and compute the mean squared error of the classifier we chose a training set that has only 11 data points (bit strings) Yet it is sufficiently large to train the QNN to act as a perfect binary classifier for all 1024 possible features use the optimal QNN parameters in res.x and apply the resulting QNN to all 10-bit strings that are not in the training set. Record the mean squared error between the predicted and computed label values The content and opinions in this post are those of the third-party author and AWS is not responsible for the content or accuracy of this post Michael Fischer is a Chief of Innovation for Aioi Insurance Services USA He creates Aioi’s tech strategy for vehicle data for use in risk assessment and created departments focusing on ML/AI in financial services Daniel Brooks is a research data scientist previously working at Aioi Insurance Services Pavel is a Principal Quantum Solutions Architect at AWS He is passionate about quantum technologies and helping customers to explore the world of quantum computing He enjoys spending his free time with family and friends Tyler Takeshita is a Quantum Solutions Architect with AWS he was the Lead of Quantum Technology at Mercedes-Benz Research and Development North America Tyler received his PhD in Chemistry in 2015 from the University of Illinois at Urbana-Champaign specializing in theoretical quantum chemistry He then went on to be a postdoctoral fellow in the College of Chemistry at the University of California Japanese general insurer Aioi Nissay Dowa is alleged to have consulted with another industry peer prior to bidding for a contract for insuring Keisei Electric Railway, further bolstering purported cartel activities A few weeks ago, the insurer and three others – Tokio Marine & Nichido Fire, Sompo Japan and Mitsui Sumitomo – were alleged to have formed a cartel to adjust fire insurance premiums Tokyu Corp. A report from Japan News alleged that Aioi Nissay met with and asked Sompo about other bidders’ insurance premium levels for the contract before the bidding with Keisei began This was done so that Aioi Nissay could avoid presenting more expensive premiums than its peers and is considered an infringement of the antimonopoly law Both Tokio Marine and Mitsui Sumitomo were also present at the bidding A spokesperson for Aioi Nissay said that the insurer is currently confirming the facts and refused to elaborate further Elsewhere, Sompo, Tokio Marine & Nichido Fire, and Mitsui Sumitomo are facing another scandal entirely as the regulators are now investigating their involvement in car dealer Bigmotor’s company-wide insurance fraud. We are very happy to share an exciting Power Automate story from Aioi Nissay Dowa Insurance that was published recently! Earlier this year, Aioi Nissay also participated in the Microsoft Business Applications Summit (MBAS) where they talked about their Power Platform journey and how they leveraged Power Automate and its Robotic Process Automation (RPA) capabilities called UI Flows to accelerate digital transformation across the company Check out the video of their MBAS session:  Aioi Nissay Dowa Insurance created an in-person training certification program to upskill the company’s citizen developers the company soon encountered critical challenges to scale up the training: those employees away from headquarter could not receive the training easily due to travel and expenses; sessions were limited and less inclusive to those who cannot be away from their primary job the business strategy team built an automated e-learning portal to help streamline the processes Aioi Nissay Dowa Insurance is on track to boost citizen developer certifications by 350% and reduce training costs by USD1.4 million by 2022 transforming its company culture to foster a more proactive Read the full story at: https://aka.ms/PowerAutomateStory/AioiNissay employees can remotely access training content and assessments on-demand and earn certification for model-driven app development with Microsoft Power Platform Power Automate is used to create training environments and Common Data Service databases automatically once employees have registered for the training Users can work at their own pace to view the training content complete all the assignments in the training environment Power Automate assesses the test results and send result notifications to the trainees through automated emails Power Apps triggers this flow to create a new environment and CDS database upon registration The flow includes an action to create an environment This flow executes a UI flow with an input for a date and ID Then it ends by sending a response with the Training URL: Once a test from the training module is completed this UI flow will be triggered to scan and assess if a user has passed the test it will update the company portal and send an email to notify the user about their test results: there are three additional actions from Common Data Service that execute an action for a UI flow updates the results Then there is an action that updates CDS again before an action for sending an email: This UI flow that includes actions for 1) launching Notepad++ By transforming the training program with Power Automate flows and RPA capabilities Aioi Nissay Dowa Insurance is on track to achieve its program goals of increasing citizen developer certifications and reducing its training costs It has also inspired the employees with an innovation-driven mindset and provided a catalyst to accelerate digital transformation across the company Data shows Microsoft Power Platform improves business outcomes Accelerate innovation and reduce costs as you analyze data 2017―Toyota Motor Corporation (Toyota) and the MS&AD Insurance Group's Aioi Nissay Dowa Insurance Co. (Aioi Nissay Dowa Insurance) have jointly developed Japan's first driving behavior-based telematics automobile insurance The plan is available to owners of certain units of Toyota connected cars*1 and uses driving data gathered via telematics*2 technologies to adjust insurance premiums based on the level of safe driving every month Total insurance premiums comprise a combination of basic insurance premiums and usage-based insurance and under this new plan up to 80 percent*3 of usage-based insurance premiums can be discounted various services are to be provided under the concepts of "enjoyment," "benefits," and "safeguards." The service is scheduled to go on sale on January 15 while insurance liability is scheduled to commence in April 2018 Both Toyota and Aioi Nissay Dowa Insurance intend to contribute to the realization of a safe and secure traffic environment for society through the development and provision of telematics automobile insurance that utilizes connected cars and automobile big data *1Vehicles that are equipped with navigation systems from which Toyota can gather driving data and which have the ability to connect to the internet *2Derived from the words "telecommunications" and "informatics," "telematics" refers to systems that provide various types of information and services using vehicle onboard devices *3The discount rate for the entire premium depends on the annual mileage if the annual mileage is 8,000 km the discount will be about 9 percent The advance of telematics technologies has led to major changes in the automobile landscape such as the creation of a variety of new products and services that utilize automobile driving data there has been an increase in the number of automobile insurance policies that utilize telematics technologies to provide discounted insurance premiums based on levels of safe driving the government is advocating the use of automobile insurance that leverages telematics technologies as a means of reducing the number of accidents automakers and IT companies are engaged in lively competition for technological development Aioi Nissay Dowa Insurance is a pioneer of telematics automobile insurance in Japan the company launched a distance-based automobile insurance that utilized Toyota's telematics technologies it purchased Box Innovation Group Limited (BIG) and has taken advantage of its newly acquired knowhow to research and develop the latest telematics automobile insurance and services Toyota has declared the three pillars of its connected strategy to be: connecting all cars; the creation of new value and business revolution; and the creation of new mobility services which are equipped with data communication modules (DCM) required for transmitting data Toyota provides connected services that utilize big data This has enabled the company to engage in the creation of new value for a mobility society and to aim to realize the ultimate goal of eliminating traffic fatalities and injuries Toyota has promoted the development of advanced safety technologies such as Toyota Safety Sense and ICS increased the number of models equipped with these technologies and commenced Support Toyota programs―educational traffic safety activities aimed at enhancing customer safety and peace of mind The telematics automobile insurance developed jointly by Toyota and Aioi Nissay Dowa Insurance utilizes a variety of driving data gathered from Toyota's connected cars By including driving behavior discounts via telematics technologies and by providing a safe and secure service that benefits all drivers the two companies aim to realize a safe and secure traffic environment for society The new insurance plan was jointly developed by Toyota and Aioi Nissay Dowa Insurance with the aim of realizing a safe and secure traffic environment for society and of providing their customers with a fulfilling car life based on enjoyment The insurance plan forms part of the appeal of Toyota's connected cars Toyota connected cars (including Lexus vehicles) from which Toyota can gather self-determined driving data Toyota's connected cars automatically transmit a variety of car-related data via a DCM to the Toyota Smart Center Aioi Nissay Dowa Insurance will provide a new service that is unique to Toyota vehicles automobile insurance plans have focused on providing peace of mind to customers whose actions had caused traffic accidents by providing a service that makes use of telematics technologies Aioi Nissay Dowa Insurance aims to generate added value (active safety) for customers whose actions have not caused traffic accidents The company provides each customer with a safe driving diagnosis service in a timely manner in order to encourage safe driving and prevent traffic accidents from occurring and braking are evaluated on a five-point scale A combined safe driving score out of 100 is also provided The report map enables drivers to verify both the route taken and locations where dangerous driving was detected and provides simple tips on each aspect of the user's driving This feature enables drivers to review their drives immediately after they have finished and encourages safe driving These alerts provide information on the operational state of active safety devices The feature not only supports safe driving but also helps keep the car in a safe and secure state and braking are evaluated on a five-point scale based on the monthly driving conditions Insurance premium discounts are determined based on the driver's safe driving score Detailed feedback is provided based on the previous month's driving data Feedback is personalized for each customer and depends on his or her driving characteristics to-be-launched discounts based on driving characteristics are deducted from insurance premiums according to monthly driving distance and driving characteristics (with negatives including excessive speed and sudden braking being taken into account) This information is based on driving data gathered via Toyota's connected cars There are no eligibility restrictions based on contract conditions such as driving a car that is not part of a commercial fleet or being a new or existing customer individuals who possess a Toyota connected car are eligible for the plan and are eligible to receive "driving behavior discounts = safe driving incentives" on top of any existing discount rates In the case of an insurance plan in which the insurance rating is 10 the period in which the accident coefficient can be applied is zero years vehicle operation is restricted to drivers 26 years of age or higher and annual driving distance is capped at 8,000 km when customers were involved in an accident they had to call their insurance company themselves staff at a specialized Automatic Report Desk place a "safety confirmation phone call" and make any necessary arrangements in a speedy manner to reduce the burden on the customer customers can opt not to receive safety confirmation phone calls in which case Aioi Nissay Dowa Insurance will then send emergency contact information by email the company will make emergency tow truck arrangements When customers encounter difficulties with accidents or have inquiries and Aioi Nissay Dowa Insurance's dedicated help desk coordinate with each other to provide seamless support and safe driving advice can be provided in the form of a monthly report sent by email to families worried about children who have recently acquired driver's licenses This enables family members to monitor the customer's driving habits and allows the service to be used in activities aimed at safe driving the results of the initial response to the accident such as details of the accident and whether there were any injuries Customers will be notified of their national ranking in terms of their safe driving score as well as their ranking among drivers of the same car model A Safe Driving Campaign will also be implemented and customers who achieve score and ranking thresholds will be given prizes This service aims to enable customers to experience the joy of driving and to promote safe driving while having fun Sales of the new insurance plan are scheduled to commence on January 15 Insurance liability is scheduled to commence in April 2018 Aioi Nissay Dowa Management New Zealand has completed the adoption of Guidewire’s InsuranceSuite on Guidewire Cloud as its technology platform The platform will be used in Aioi Nissay Dowa Management NZ’s domestic motor The implementation project was led by Guidewire PartnerConnect Consulting partner Tenzing “Guidewire is providing improved security enabling us to adapt rapidly to changing customer and market needs and stay ahead of our competition by implementing new product innovations quickly means that we can spin up new products quickly,” said Simone Labady “Partnering with Guidewire and having access to InsuranceSuite signifies much more than just a decision to implement a core insurance system – it is an alignment of cultures and visions for the future This was imperative when we were looking for a partner and Guidewire is a tier-one solution provider who I know will stay ahead of the curve with respect to product development.” Aioi Nissay Dowa Management NZ said it selected InsuranceSuite on Guidewire Cloud in November 2020 to power its core operations and as part of its thrust to deliver more value to agents “We are honoured to have led this highly successful project to implement InsuranceSuite on Guidewire Cloud at Aioi Nissay Dowa Management NZ,” said Chris Day and Guidewire team came together allowed us to collectively focus on what mattered to the Aioi business.” Aioi Nissay Dowa Insurance (ANDI) Europe has announced a significant investment with Oxford-based AI company Mind Foundry The partnership will spawn a new joint venture research lab in Oxford called the Aioi R&D Lab – Oxford The lab is expected to bring together insights from the Aioi Nissay Dowa Group of companies and the wider insurance sector with applied machine learning from Mind Foundry creating and developing an AI to solve important problems within the field The partnership further builds on a successful collaboration that has delivered improvements within the industry The lab aims to develop real-world solutions to tackle various significant challenges in society from sustainability to autonomous mobility “Insurance was born in the UK and breakthroughs of many kinds have their origin here so it’s the perfect place for our new hub of innovation,” ANDI president Keisuke Niiro said “The Aioi R&D Lab aims to solve global-scale social issues through developing cutting-edge insurance and services utilising AI technologies.” Niiro said that the lab will combine the capabilities of Oxford researchers and the insurance capabilities of Aioi Nissay Dowa Insurance to develop solutions for significant societal challenges “Coming together as ‘One Team,’ I am confident Aioi Nissay Dowa and the experts in the Oxford ecosystem can offer solutions that will have a tremendous impact on the world,” Niiro said “We have made a long-term commitment to invest in cutting-edge innovation in the development of new insurance models and services – not just for our own benefit but to create a shared value that solves social and community issues across all parts of society,” AND-E group CEO Michael Kainzbauer said “Insurance is pivotal to mitigating and protecting people from the impact of some of the biggest issues facing our planet and our populations and we are excited to be working with Mind Foundry to take some big strides towards practical solutions that will drive change at a massive scale.” The lab will focus on several topics that create shared value across society On the board of the newly formed lab are key representatives from AND-E and Mind Foundry Kainzbauer will chair the board while AND-E executive manager Jun Ikegami will take the post of CEO The two will work alongside Mind Foundry CEO Brian Mullins and ANDI representatives from the ANDI holding company Supporting the board is an advisory panel of professors from the University of Oxford each with different expertise across many disciplines that sit at the heart of the transformations facing society These include Mind Foundry co-founders professor Stephen Roberts and professor Michael Osborne professor of computer science at Oxford University The lab’s aim is to build a better understanding of the data that surrounds us and identify ways in which truly informative “big knowledge” can be extracted from that information and not just the “big data,” according to Stephen Roberts Mind Foundry co-founder and professor of machine learning at University of Oxford but what we need now are very smart algorithms that can distil that data into knowledge that is interpretable and beneficial to everybody,” Roberts said “We want to understand the societal impact – not just of insurance and sustainability – and form a foundation for how algorithms of all levels of sophistication can work in harmony with society.” “Mind Foundry is dedicated to tackling high-stakes problems with AI – and the insurance sector is not only one that impacts all of our lives both individually and at scale but it’s also at the forefront of long-term thinking about global economic problems and the effects of change on people and civilization,” Mind Foundry CEO Brian Mullins said “We could not have better partners as we take on some major challenges in that field with this R&D lab “Aioi Nissay Dowa shares our aspirations and understands the importance of digital transformation working with – not against – society and we will also benefit from the University of Oxford’s rich ecosystem which has been at the cutting edge of AI research for decades,” Mullins said “We look forward to deepening our relationship with ANDI and the University of Oxford and working together to create a more inclusive and fairer world for all.” Besides the advancement of AI, several new breakthroughs have also been introduced within the insurance business. Recently, specialist insurer CFC announced the implementation of policy encryption within its products providing an additional layer of security for its customers Mobility insurance provider Aioi Nissay Dowa Europe (AND-E) has appointed Jon Hermon (pictured) as group chief finance officer AND-E said the appointment will see Hermon join the board while working closely with the finance leadership teams across the company’s European divisions Hermon has been with the business since 2021 “I am incredibly excited to be joining the AND-E Group board at this time to build an agile finance infrastructure that will effectively drive and support our strategic direction and deliver the expected return to our shareholders,” he commented “The job of finance is to provide the controls and insights for the right business actions and I am looking forward to building on the systems and processes already implemented to further strengthen our finance infrastructure.” Hermon went on to say: “There is already a wealth of experience of the AND-E business as well as financial expertise in the local market finance teams that puts us in an exceptionally strong position finance can really support the performance of the AND-E Group.” The new CFO’s credentials span more than two decades spent in the motor insurance sector. He was previously with the likes of Hastings Insurance Group, Freedom Services Group, and First Central Group Group chief executive Michael Kainzbauer said: “The AND-E business has achieved a strong growth trajectory over the last few years It is now critical that we capitalise on economies of scale while still responding to local market opportunities delighted that Jon Hermon has agreed to take up the role of group chief finance officer He will help shape and build our finance infrastructure to ensure it is fit for purpose to support our future strategic ambitions.” MS Amlin parent MS&AD Insurance Group Holdings has released its summary of financial statements for the year ended March 31 According to MS&AD, here’s how it fared during the 12-month span: Source of net income attributable to owners of the parent MS&AD’s underwriting income amounted to ¥4.5 trillion while investment income stood at ¥745.7 billion The results were in part attributed to efforts in the areas of value creation MS&AD said: “For consolidated earnings for the next fiscal year the company forecasts ordinary profit of ¥420 billion and net income attributable to owners of the parent of ¥300 billion on the basis of the assumptions set forth below “Net premiums written are based on the company’s own forecasts in view of past trends in results Incurred loss due to new natural disasters (domestic) is expected to be ¥49 billion for Mitsui Sumitomo Insurance Co. and ¥39.5 billion for Aioi Nissay Dowa Insurance Co. (total of net claims paid and provision of outstanding claims).” The insurance group is also assuming that no significant fluctuations in market interest rates or stock market prices will take place from the end of March 2023 What do you think about MS&AD’s financial results BEVERLY HILLS, Calif., Oct. 13, 2020 (GLOBE NEWSWIRE) -- YayYo, Inc. ("YayYo" or the "Company") (OTC PINK: YAYO) a leading provider of vehicles to the rideshare and delivery gig economy industry and Aioi Nissay Dowa Insurance Services USA (AIS) have entered into a joint project to better understand safety in Mobility as a Service (MaaS) fleets AIS will deploy advanced AI dash cams in 300 vehicles of the Rideshare Rental carsharing fleet for use with MOTER™ AIS’s edge computing-based risk analytics platform The cameras will capture dynamic data to monitor how where and when the vehicles are being driven along with high-definition video of the surroundings AIS is focused on using data through MOTER to better understand risk and vehicle operation in modern transportation services By deploying AI-capable cameras in these vehicles AIS can capture and analyze traditional telematics data and put it in the context of the environment in which the driver and vehicle are operating Through the use of advanced computer vision and object detection techniques AIS will further develop unique knowledge and insights based on proprietary data science capabilities around driving that pertain to everyday driving modern mobility services and advanced vehicle deployment including varying levels of autonomous operation “Rideshare Rental is a leader in the car sharing space with a focus on new mobility uses like ride sharing and delivery,” said Rideshare Rental CEO “With these advanced cameras in our fleet we can better protect our drivers and their passengers and reduce the number of accidents and ultimately “This project with Rideshare Rental allows AIS to continue to enhance its data science expertise in understanding risk and safety for driving and vehicle operation in the Mobility as a Service space,” said Craig Lozofsky “While providing fleet owners and operators the peace of mind that comes from having information about potential risk.” YayYo bridges the gap between rideshare drivers needing a suitable vehicle and rideshare companies that depend on attracting and keeping drivers YayYo uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs YayYo seeks to become the preeminent provider of rental vehicles to drivers in the ever-expanding gig economy YayYo Inc provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (yayyo.com) About Aioi Nissay Dowa Insurance Services USA This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 All statements other than statements of historical fact in this press release are forward-looking statements These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances Although the company believes that the expectations expressed in these forward-looking statements are reasonable it cannot assure you that such expectations will turn out to be correct and the company cautions investors that actual results may differ materially from the anticipated results Ramy El-BatrawiPhone: 888-209-5643Email: investors@yayyo.com Craig LozofskyPhone: 818-807-3128Email: craig.lozofsky@aioi-atg.com  Japanese version Aioi Nissay Dowa Europe (AND-E) will be hiring more than 150 people as part of expanding the motor insurance provider’s operating hub in North Tyneside which is currently manned by 400 employees To be outlined at the Quorum Jobs Fair on November 17 the new roles come following a decision by AND-E subsidiary Toyota Insurance Services to bring all telephone-based service and sales support for its UK business to AND-E’s centre of excellence “This development [to go in-house] gives Toyota one of the world’s most respected and influential brands its first business presence in the North-East beyond its retail network,” said Toyota Insurance Services managing director Jason Milton “We have worked with the AND-E team at North Tyneside for a number of years; their passion and enthusiasm made our decision to cement our position in the region an easy one.” which also supports Lexus Insurance Services has been growing its North-East investment since snapping up insurethebox in 2015 the business also has offices in London and Surrey with a total of around 600 colleagues in Britain “By deepening our relationship with Toyota here in the North-East we will bring a huge range of opportunities for people to grow or start their careers afresh in a range of areas and in a business with a culture that genuinely cares,” said AND-E UK chief executive Warren Hetz is now wholly-owned by Aioi Nissay Dowa Insurance Co a subsidiary of the MS&AD Insurance Group in Japan ADI has been DTRIC’s majority shareholder since 1992 This transaction completes ADI’s buyout of the minority shareholders ADI will make a $20 million capital infusion to DTRIC which will allow the company to expand its insurance offerings in Hawaii DTRIC will remain a separate entity and be managed by its Hawaii-based team Day-to-day operations are not expected to change ADI also fully acquired Royal State Financial Corp. which will provide underwriting and management services to DTRIC DTRIC offers personal lines of insurance including auto It also provides a range of commercial lines of insurance MS&AD is the insurance holding company formed in 2010 through the merger of Aioi Insurance Co Please tell us what we can do to improve this article Get the insurance industry's trusted newsletter Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" Joint venture between telematics leader and global insurer brings a behavior-based telematics program to Japan 2016 /PRNewswire/ -- Cambridge Mobile Telematics (CMT) announced a strategic partnership with Aioi Nissay Dowa Insurance (ADI) designed to bring a behavior-based telematics program to Japan.  Photo - http://photos.prnewswire.com/prnh/20160829/402441  to improve safety for the connected car world DriveWell provides actionable insights on driver behavior and vehicle dynamics to auto insurers and is being used successfully in a wide range of applications According to the Global Status Report on Road Safety assembled by the World Health Organization in 2015 over 1.25 million people die from traffic accidents each year with millions more sustaining serious injuries improving driver safety is a primary goal for both organizations "By partnering with Aioi Nissay Dowa Insurance we are expanding our powerful innovations in smartphone sensing and data analytics with a leading insurer who is committed to improving safety and convenience for their clients," said William Powers "We are focused on aligning with companies that share the same vision – to make drivers and roads safer globally." a customized version of DriveWell for their company vehicles Visual Drive allows drivers to monitor hard braking and phone movement for every trip taken all while having very limited impact on battery life Each trip is logged and trip summaries are displayed with mapped routes complete with identified events and an overall trip score ADI expects Visual Drive to contribute to fewer accidents and safer driving About Aioi Nissay Dowa InsuranceAioi Nissay Dowa Insurance (ADI) is responsible for non-life insurance business, which is a core business of the MS&AD Insurance Group; ADI is leveraging its strong relationship with the Toyota Group and the Nippon Life Group and engaging in business based on close relationships with local communities. For more information, please visit aioinissaydowa.co.jp Media Contact:James Penswick+1 508 274 9820[email protected] This content was issued through the press release distribution service at Newswire.com. For more info visit: http://www.newswire.com http://www.cmtelematics.com Do not sell or share my personal information: