A Sompo Japan Nipponkoa Insurance policy that will offer drivers discounts for safer driving is to become the latest entrant to Japan's nascent telematics-led motor insurance sector. The company will issue policyholders with a smartphone app called Smiling Road that can monitor how they drive and will price insurance accordingly, with the best drivers receiving a discount of as much as 20% when buying a car. The product is aimed mostly at younger drivers who don't yet own a car. In addition to offering discounted insurance, the firm plans to use its data analytics platform to help improve traffic flow in Tokyo by providing real-time information on road conditions such as congestion, speed limits and other factors related
A Sompo Japan Nipponkoa Insurance policy that will offer drivers discounts for safer driving is to become the latest entrant to Japan's nascent telematics-led motor insurance sector. The company will issue policyholders with a smartphone app called Smiling Road that can monitor how they drive and will price insurance accordingly, with the best drivers receiving a discount of as much as 20% when buying a car. The product is aimed mostly at younger drivers who don't yet own a car. The app already has more than 100,000 users.