Tokio Marine enters into an alliance with May Mobility
One of its aims is to research insurance products for autonomous driving.
Tokio Marine is entering into a capital and business alliance agreement with autonomous driving technology developer May Mobility to jointly develop fleet operation management services and research into insurance products for autonomous driving.
Recently, the government of Japan released “Public-Private ITS Initiative/Roadmap”, where the possibility of implementing unmanned autonomous driving mobility services in limited areas (i.e. areas with low/declining population density) at more than 40 locations nationwide by around 2025 was laid out.
The key initiatives of the alliance is the development of fleet operation management services for autonomous driving as well as developing and enhancing claims processing services for autonomous driving.
It also aims to develop advanced and high-grade digital risk consulting services, incorporating data from May Mobility's autonomous driving system into existing risk prevention consulting services. In addition, Tokio Marine will also conduct research into insurance products around the risks in autonomous driving and operation, based on the needs identified through joint projects with May Mobility.