The platform, introduced in June, enables seamless sharing of information within the group, including updates on search and scouting for potential business partners and meeting minutes.

Its primary goal is to enhance efficiency and streamline the process of identifying and partnering with startup companies, particularly in the rapidly growing insurtech sector.

Recognizing the global growth and transformative potential of insurtech, Tokio Marine is actively seeking collaborations with insurtech companies to drive innovation and develop new insurance products. However, the absence of a centralised information sharing system had previously resulted in duplication and inefficiencies, with different group companies unknowingly engaging with the same startups.

To overcome this challenge, Tokio Marine collaborated with Tällt Ventures to co-develop the platform, leveraging their Sønr Platform, which houses a database of over two million companies with technologies relevant to the insurance industry. The platform enables seamless information sharing among group companies, ensuring a more coordinated approach to identifying potential business partners.

Apart from information sharing, the platform offers features for effective information management. Users have the ability to assign attributes and tags to external companies, facilitating organization and categorization. Additionally, each user can customize their home screen to display relevant information, enhancing usability and convenience.

In a statement, Tokio Marine said, “The introduction of this system will allow us to simultaneously facilitate corporate search and horizontal development of collaboration. By leveraging the expertise of our Global Digital Innovation Labs, we aim to accelerate open innovation throughout the group.”

Last month, Tokio Marine Holdings subsidiary Tokio Marine Kiln announced the launch of a cyber and enterprise risk division, further showcasing the company’s commitment to staying at the forefront of industry developments.