Line, Sompo Japan Starts Service for Insurance Gifts

Economy

Tokyo, March 12 (Jiji Press)--Line Corp. <3938> and Sompo Japan Nipponkoa Insurance Inc. said Tuesday that they have started a service enabling people to gift insurance products to acquaintances and others with the Line free messaging app on their smartphones.

For the first product under the service, Line and the nonlife insurer have developed an insurance policy that allows people to receive a payout of 10,000 yen in the event of an earthquake registering lower 6 or over on Japan's seismic intensity scale.

After people buy the insurance policy for 500 yen, they will be able to give the product as a present via the app to acquaintances and relatives.

The term of the insurance is one year.

People who receive the product will decide whether to subscribe to the policy. If a policyholder's neighborhood is hit by a strong quake measuring lower 6 or over on the Japanese scale, Line will send the policyholder a message about insurance claims a few minutes after the jolt.

[Copyright The Jiji Press, Ltd.]

Jiji Press