Mitsui Sumitomo Insurance to offer AI security camera service

Japanese insurance giant Mitsui Sumitomo Insurance Co. will begin offering next month an industry-first security service that pairs cameras and artificial intelligence to detect possible home intruders, according to people familiar with the matter.

The plan comes as the firm seeks to expand from its mainstay property insurance business and move into smart home services.

With Japan’s insurance market expected to decline in line with the shrinking population, the firm intends to diversify its revenue sources and expects demand for home security services to grow, the sources said.

The company pla...