Sompo Japan launches a new earthquake insurance service

Sompo Japan Nipponkoa Insurance has launched «Mysurance», a new subsidiary for the creation and marketing of innovative insurance solutions.

In collaboration with the telecommunication expert Line Corp, the Japanese insurer has provided its clients with a new service. The latter allows individuals to underwrite an earthquake insurance policy which may be offered to a person in their contacts who has already subscribed to the Line free messaging app.

The insurance premium costs 500 JPY (4.5 USD) per year and allows people to receive a payout of 10 000 JPY (90 USD) in electronic money, a few minutes following the jolt.

Read also | Earthquake insurance