- 2021.09.29
justInCase, Inc. (“JIC”), with the vision of “Create joy of helping and being helped for everyone”, and justInCaseTechnologies, Inc. (“JICT”) have released White Paper — Roadmap for the Future of Insurtech that JIC and JICT aim to achieve.
Table of Contents
- Overview
- Future of Insurance and Insurance Products
- Understanding the Current State
- IT Infrastructure Development
- Regulatory Environment
- SaaS and Startups
- Case Studies
Overview
In the future, we expect insurance to be transformed significantly over the next decade amid changes in society, demographics and customer demand. In this whitepaper we seek to explore what insurers need to prepare for in response to these changes and offer a roadmap for IT planning and development in large insurance markets such as Japan.
Chapter 2. The Future of Insurance and Insurance Products describes what changes are expected to happen with insurance within ten years that most industry leaders and professionals foreseen. In fact, these changes together might accelerate their timeline to happen earlier. There might also be other changes that will happen that are yet to be discovered. This chapter then examines how insurance products evolve to adapt to these changes (or whether adaptation is needed).
Chapter 3. Understanding the Current State identifies challenges insurers are facing today and explains how the current operating models and IT systems hinder insurers from responding to the future changes described in Chapter 2.
Chapter 4. IT Infrastructure Development introduces a variety of approaches that insurers may adopt in 5-10 years to address challenges identified in Chapter 3.
Chapter 5. Regulatory Environment describes the important role that regulation plays in creating an environment for insurers to respond to changes, as well as new regulatory needs arising from future changes.
Chapter 6. SaaS and Startups discusses the concept of adopting SaaS and illustrates how insurers can partner with Startups to realize value quickly. Example use cases are illustrated in Chapter 7. Case Study.
Click on the link below to download the full version of the white paper.
https://justincase.jp/whitepaper/whitepaper20210929_en.pdf
【Comments from CEO Hata】
The insurance industry has been trying to break away from legacy issues and work toward digital transformation. While the outbreak of new coronavirus has accelerated the process, key challenges have also become more certain. Amid the changing society, it is expected that not only will the digital transformation occur in the industry, the values that the insurance itself provides to customers will also change. In this white paper we have studied several use cases to explore what insurers need to prepare in response to changes in the society and to continue to create values and stay close to customers. We believe that combining the history and trust built by large insurers with the IT expertise and agility of startups, the insurance industry can deliver values that match new sense of values and lifestyles.
About justInCase
Established: December 2016
CEO: Kazy Hata
Location: 702 Kayabacho 1-chome Heiwa Building, 1-8-1, Nihonbashi Kayabacho, Chuo-ku, Tokyo
Business: Small amount and short term insurance
Business started: July 2018
With the vision to “Create joy of helping and being helped for everyone”, justInCase has launched insurtech business to use technology to transform the insurance industry. We are here to create values that improve everyone’s lives by offering insurance products and services that are yet to exist.
https://justincase.jp/
About justInCaseTechnologies
Established in 2019, justInCaseTechnologies provides reliable and seamless insurance API technology and digital platform solutions for justInCase, enabling justInCase to successfully launch five fully online insurance products in a year. justInCaseTechnologies also empowers insurers to digitize their services such as accepting premium payments by common points and credit card. Amid the growing demands for digital transformation in the insurance industry, including digitizing the customer touchpoints, automating and streamlining workflows, justInCase Technologies offers a SaaS insurance solution “joinsure” which is composed of insurance systems developed through our know-how and experience of pure online insurance development and system design.
https://justincase.jp/joinsure