justInCase Inc, and justInCase Technologies Inc, (“justInCase”) are leading Insurtech companies in Japan, with the vision of “Create joy of helping and being helped for everyone”. justInCase’s P2P insurance, which was admitted to the Regulatory Sandbox on July 5, 2019 and was released to market on January 28, 2020, is expected to continue upon successful completion of the 1-year experiment. So far, justInCase’s P2P Cancer Insurance (https://p2p-cancer.justincase.jp/) has 3,047 customers and has helped 6 customers who have been diagnosed with cancer. Our customers have paid insurance premiums to contribute to benefit payments for those who have been diagnosed with cancer or the bereaved families of those who passed away belonged to their respective age groups. In addition, we have received many messages of support from our customers regardless of which age group they belong to. justInCase’s P2P insurance is not only an insurance business, but also a community to create values of “Helping each other” and “Supporting each other” among customers. In the current unstable situation, the importance of “Helping each other” has been revived and the concept of creating social and emotional values in consumption has been spreading. By reviving the importance of “Helping each other” which is the origin of Insurance, our determination of further generating social and emotional values in consumption is reaffirmed. The 1-year experiment will be officially completed by January 31, 2021, and we will then focus on the following two initiatives.

① Collaborations with business enterprises

We seek collaboration opportunities with any membership organizations and communities to extend the community benefits of P2P insurance to their members and promote the importance of “Helping each other” among them.

②Collaborations with insurance companies

We seek collaboration opportunities with insurance companies to provide consulting and SaaS system development services of P2P insurance through justInCaseTechnologies. Our consulting service will support insurance companies’ P2P insurance business development by providing our know-how regarding the product development and operation of P2P insurance. In addition, we will provide services such as “application”, “billing” and “customer management” as part of the P2P insurance SaaS system. Insurance companies interested in this collaborative initiative are welcome to contact us at pr@justincase.jp. 

About justInCase’s P2P Insurance

https://p2p-cancer.justincase.jp/ justInCase’s P2P Insurance is an insurance product that is built on the concept of mutual support, allowing a group of insureds to share their risks among themselves The P2P insurance we launched covers cancer.

It has the following product features.

1.Sharing risks with each other by the use of cutting-edge technology leads to cheaper premiums
2.Insurance premiums are post-paid. The amount of premiums are determined by the total benefit payment paid and the total number of members every month.
3.Transparency and rationality are assured. The use of insurance premiums is clearly traceable, and management fees paid to us are disclosed. An insurance sharing economy is created.
4.“Helping each other” can be achieved
5.The premium you paid will be benefited by someone in need. A new type of interactive insurance that helps one another not only through premiums, but also through messages of support.