Tokio Marine Holdings has introduced a group-wide market intelligence platform to support operations related to collaboration with external companies.
According to Tokio Marine, the system allows the firm to share information, including the status of search and scouting for potential future business partners, as well as meeting minutes.
“As open innovation is accelerated, the platform fosters efficiency, streamlining the search process for startup companies,” Tokio Marine explained.
The firm continued, “In today’s rapidly evolving landscape, the Insurtech sector, which combines insurance and technology, is experiencing remarkable growth globally.
“Tokio Marine actively pursues collaborations with Insurtech companies, recognizing their immense potential to drive the development of new products and innovation within its insurance operations.”
Tokio Marine notes that in the past, the absence of an information-sharing system meant that the group’s companies worldwide conducted searches for potential business partners independently.
According to the firm, this “decentralized approach” resulted in scenarios where multiple group companies unknowingly engaged with the same startup companies.
To address this issue, the platform was co-developed with Tällt Ventures, building upon its Sønr Platform, a company database with over 2 million companies with technologies highly compatible with the insurance industry.
Tokio Marine went on, “Group companies can now seamlessly share information on company searches on the platform. Besides information sharing on the platform, the platform allows information management through assigning attributes information tags to each external company. Each user can also customise the information displayed on the home screen to facilitate effective use of the system.”
The firm concluded, “The introduction of this system will allow us to simultaneously facilitate corporate search and horizontal development of collaboration.
“By leveraging the expertise of our Global Digital Innovation Labs, we aim to accelerate open innovation throughout the group.”
