Metromile and Tokio Marine Expand Partnership to Transform Claims
Technology expected to save Japan's largest insurance group millions of dollars
Feb 11, 2020, 09:00 ET
TOKYO and SAN FRANCISCO, Feb. 11, 2020 /PRNewswire/ -- Metromile, the first insurance carrier powered by machine learning, today announced that Tokio Marine Group deployed the digital, first notice of loss product Metromile REPORT across its $13 billion auto insurance book. With Metromile REPORT, Tokio Marine expects to significantly improve customer claims by enabling drivers to report accidents online and through its app.
"Metromile uses world-leading technology to provide a more sophisticated and personalized approach for its customers. By incorporating its technology into our claims service, we expect to realize millions of dollars in savings and raise the quality of work that can only be performed by our talented team," said Tokio Marine Group Deputy General Manager Hidenori Kobayashi.
Tokio Marine Group, the largest insurance group in Japan, was the first insurance carrier to license Metromile's proprietary artificial intelligence claims platform. Metromile Enterprise's platform can help improve customer satisfaction and limit losses paid to false claims, which Metromile Enterprise believes can reduce loss adjustment expenses by as much as 30% by automating customer experience, detecting fraud, and offering dynamic first notice of loss.
"We are honored to help Tokio Marine focus on what they do best — putting its people and its customers first. Metromile Enterprise's technology will enable Tokio Marine to use artificial intelligence to improve customer satisfaction, realize industry-leading operating efficiency, and take a significant leap as a technology-driven insurer," said Metromile CEO Dan Preston.
To learn about how insurance carriers can incorporate automation and machine learning to create a richer customer experience as a competitive advantage, visit enterprise.metromile.com, and schedule a free demo.
About Metromile Enterprise
Metromile Enterprise, the software-as-a-service business group of the namesake pay-per-mile car insurance leader, partners with insurance companies to help them operate with greater efficiency and provide a premium customer experience. Insurance carriers license Metromile Enterprise's platform to automate claims to expedite resolution, reduce losses associated with fraud, and unlock the productivity of employees so they can work on higher-impact experiences.
About Metromile
Metromile is the leading pay-per-mile car insurance company in the U.S. Recognized by Forrester as a top insurance carrier in user experience, it is creating a loyal community of drivers with personalized insurance that is fairer and more affordable. Powered by machine learning and customer-centric design, Metromile is at the forefront of disrupting a $280 billion personal auto insurance industry that has gone unchanged for decades.
About Tokio Marine Group
Established in 1879 in Japan, the Tokio Marine Group undertakes domestic non-life insurance, domestic life insurance, international business, and financial and general businesses. With a presence in 45 countries and regions, the Tokio Marine Group ranks as one of the world's most globally diversified and financially secure insurance groups. As Japan's largest insurance group, the Tokio Marine Group is listed on the Tokyo Stock Exchange with over Yen 22.5 trillion ($203 billion) in total assets, Yen 5.4 trillion ($49 billion) of total revenues (for the year ended March 2019) and approximately 40,000 employees. Tokio Marine's major subsidiaries have financial strength ratings of "A+ (Strong)" from Standard & Poor's Financial Services LLC and "A++ (Superior)" from A.M. Best Company, Inc.
SOURCE Metromile
