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Sony Assurance Begins Selling Internet-Only Overseas Travel Insurance

Jun. 21, 2018

Sony Assurance, a wholly owned non-life insurance subsidiary of Sony Financial Holdings Inc., began selling overseas travel insurance on June 21, 2018.

By offering Internet-only products, Sony Assurance is able to eliminate administrative costs for various types of processing and offer inexpensive insurance premiums. In addition, by segmenting risk by age as well as travel destination, the company is able to offer discounted insurance premiums to customers aged 10 to 49, who are low-risk. Sony Assurance enables customers to save even more on insurance premiums by customizing coverage and applying discounts to repeat customers when they take out the company's overseas travel insurance more than once.

Leveraging the Internet's convenience, customers can conduct application procedures, report to the company in the event of an accident at any time, 24 hours a day. Furthermore, in addition to customizing coverage categories and policy amounts, getting quote and making applications over the Internet, making post-contract changes in policy details and receiving accident reports are all completed over the Internet. Sony Assurance has in place a system for providing customers with high-quality service via telephone and the Internet in the event of an accident or other trouble.

To aim to sustain growth and establish a foundation for stable long-term earnings, Sony Assurance is expanding into fields other than automobile insurance by taking advantage of its strengths in direct non-life insurance. By selling overseas travel insurance, the company aims to expand its customer base and is endeavoring to provide products and services that meet customers' expectations and needs.

Note: This is an English-language summary of a Japanese announcement made by Sony Assurance on June 21, 2018. The summary was prepared by Sony Financial Holdings solely for convenience of non-Japanese readers.