Auto Insurance for autonomous vehicle public road experiment Qorus Innovation in Insurance Awards 2016 - Winner

On 28. Mar. 2016, Tokio Marine & Nidhido Fire (TMNF) announced its participation in the public road experiments of autonomous vehicles conducted by Universities. TMNF is the first insurance company in Japan to do that. The participation includes ・Join the public road experiments of autonomous vehicles conducted by Kanazawa University and Nagoya University to identify the issues of autonomous vehicles and accelarate its development by solving the issues. ・Provide ”Auto Accident Risk Assessment Consulting Service” for the companies, Universities and public sectors who are planning to condust public road experiments. The service will be provided by Tokio Marine & Nichido Risk Consulting Co., Ltd. ・Provide tailored insurance for experimental autonomous vehicles which covers not only the liability and breakage caused by traffic accidents, but also breakage during protptyping and assembly, cost of investigation and other expenses arouse from accidents and cyber attacks. This can be called a disruptive innovation because the risk and legal aspects of autonomous vehicles are completely different from conventional traffic accidents. This is disruptive from another perspective because TMNF is helping the development of autonomous vehicles that can, in the future, disrupt conventional auto insurance which accounts for more than 50% of the domestic insurance revenue of TMNF. Having said that, TMNF should endeavor to pursue its corporate goal “Provide Safety and Security to the Society” and will comply with its current campaign “We Support all the Challengers”.