January 26, 2022
Tokyo Marine Holdings, Inc.
Capital and commercial alliance agreement with May Mobility, Inc.
Aim to promote safe and secure autonomous driving
Tokio Marine Holdings, Inc. (Group Chairman and CEO: Satoru Komiya, hereinafter
“TMHD”) and May Mobility, Inc. (CEO: Edwin Olson, hereinafter “May Mobility”) are pleased to announce that the two companies have entered into a capital and commercial alliance, aimed at jointly developing management services fleet operations and insurance research. products for autonomous driving, to better serve our customers and society at large through the implementation of autonomous driving.
1. Context and objectives:
Autonomous driving is expected to be the key solution to mobility problems such as accidents and is being developed for practical implementation around the world. In Japan, the government has released a “public-private ITS initiative/roadmap”, where the possibility of implementing unmanned autonomous driving mobility services in limited areas (i.e. areas sparsely populated or declining) in more than 40 locations nationally by approximately 2025 has been established. outside.
The Tokio Marine Group provides highly specialized insurance and risk solutions to mitigate various risks surrounding our increasingly complex modern societies.
In the field of autonomous driving, Tokio Marine & Nichido Fire Insurance Company has led the development of a safety net for the self-driving company in Japan by providing the industry’s first insurance products, such as “l endorsement of additional expenses to save victims caused by an insured Vehicle defect (April 2017) 1” and ” Excluding insurance claim account during self-driving at policy renewal (April 2021) 2“.
May Mobility develops and introduces self-driving technologies and vehicles in Japan and the United States.
The company is prioritizing early commercialization to help people and regions with an imminent need for self-driving and has already partially achieved this goal in limited areas in the United States.
TMHD and May Mobility have collaborated using their respective know-how and resources by participating in a self-driving PoC experience launched in the city of Higashi-Hiroshima, Japan in March 2021.3.
To further promote self-driving efforts, TMHD has formed an equity and business alliance with May Mobility.
- Launch of “Additional Expense Rider to Rescue Victims Caused by Insured Vehicle Fault”(Japanese only)
- Launched “Exclusion of insurance calims account when driving autonomously when renewing the policy”(Japanese only)
- Demonstration of a new mobility service experience（Higashi-HiroshimaCity）(Japanese only)
TMHD and May Mobility are involved in self-driving projects in various regions and areas in collaboration with local governments and transport operators.
The two companies jointly promote the development of fleet operation management services, claims handling services and risk consulting services, and jointly research and develop insurance products for autonomous driving, thus contributing to the social implementation of safe and secure autonomous driving.
（１）Developing Fleet Operations Management Services for Autonomous Driving Jointly develop fleet operations management services that meet the needs of our customers and partner companies for autonomous vehicles. Including remote monitoring and management services for self-driving vehicles and emergency and on-site response services for urgent issues, by combining May Mobility’s fleet operations management system with knowledge -do, operations and accident response network of Tokio Marine Group.
（２）Development and improvement of complaint handling services for autonomous driving
Develop and improve insurance claims handling services for self-driving vehicles by improving and further digitizing the process of verifying the causes of accidents and negligence rates of the parties involved, using data from the self-driving system of MayMobility.
Also, aim to provide various services for incidents beyond traffic accidents using data from fleet operation management services.
（３）Development of risk advisory services for autonomous driving
Develop advanced and high quality digital risk consulting services4, integrating data from May Mobility’s autonomous driving system into existing risk prevention consultancy services.
（４）Research on insurance products for autonomous driving
Conduct insurance product research around autonomous driving and operating risks, based on needs identified through joint projects with May Mobility.
Address: 650 Avis Drive Suite 100 Ann Arbor, Michigan, 48108, USA
CEO: Edwin Olson
Date of foundation: May 2017
4 Services for the safe driving and operation of self-driving vehicles, including the planning of demonstration experiments, the risk assessment of driving routes and the planning of countermeasures using accident data owned by Tokio Marine Group, and driver safety training.