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INSURANCE | Staff Reporter, Japan

Sompo Japan Nipponkoa taps US startup One Concern for AI solution

The app will let users simulate disaster-related scenarios.

Sompo Japan Nipponkoa has partnered with US-basedstartup One Concern to launch an AI-powered app that aims to reduce service costs and expand customer reach, reports Nikkei Asian Review.

The app will let users to simulate various scenarios and see different results, including second and third-order effects caused by damage to critical infrastructure such as transport, power and water supply. Moreover, in the event of disaster, the app will use real-time information on social media and reports from first responders.

The partnership will provide the app to the municipal government of Kumamoto which has been hit by major earthquakes in 2016. Later on, the insurer aims roll out the app to aid more businesses and municipalities understand risks from national disasters, develop business contingency plans, and provide financial protection against loss and damage. 

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