Tokio Marine launches intelligence platform

Tokio Marine hopes to attract insurtechs for product development and innovation.

Japanese insurer, Tokio Marine, partnered with Tällt Ventures and launched a company-wide intelligence platform last month to allow effective collaboration with external partners.

The platform facilitates cooperation with companies by enabling information sharing, including search and scouting updates for potential business partners and meeting minutes.

It enhances efficiency in finding startup companies as part of their open innovation efforts.

Tokio Marine actively seeks partnerships with insurance technology (insurtech) companies to tap into their vast potential for product development and innovation in the insurance sector.

Tokio Marine's group companies worldwide conducted independent searches for potential business partners due to the lack of an information-sharing system. 

ALSO READ: Tokio Marine international net premiums segment jumps 29.8% in 2022

This decentralised approach often led to multiple group companies unknowingly engaging with the same startup companies. 

To address this issue, Tokio Marine tapped Tällt Ventures to develop a platform based on their Sønr Platform, which houses a database of over 2 million companies with technologies relevant to the insurance industry. 

This platform enables seamless information sharing among group companies, preventing duplication of efforts.