Dai-ichi Life to Sell Insurance via Smartphone App

Economy

Tokyo, Aug. 14 (Jiji Press)--Dai-ichi Life Insurance Co. said Wednesday that it will start selling insurance policies through a smartphone app.

The Dai-ichi Life Holdings Inc. <8750> unit will start offering on Thursday low-cost and short-term insurance policies for leisure activities, targeting young adults unfamiliar with insurance.

The cheapest policy costs 81 yen per day. Users will also be able to make insurance claims though the Snap Insurance app.

The new policies were developed by insurance startup justInCase Inc. Dai-ichi Life will serve as a sales agent. It does not have a sales target since the main focus is to cultivate new demand among young adults.

Premium payments can be made only by credit card for the time being. But Dai-ichi Life aims to allow clients to use electronic payment, including Mizuho Bank's J-Coin Pay service, starting in fiscal 2020.

[Copyright The Jiji Press, Ltd.]

Jiji Press