Sony Financial acquires justInCase

Sony Financial Group has entered into an agreement to acquire all outstanding shares of justInCase, a small-amount and short-term insurance provider, making it a subsidiary, subject to regulatory approvals. This acquisition marks SFG’s entry into the small-amount and short-term insurance business. By collaborating with other SFG group companies, SFG aims to develop and offer new insurance products and services that transcend the traditional boundaries between life and non-life insurance.

SFG’s Growth Strategy and the Background of the justInCase Acquisition

SFG is a financial group comprised of Sony Life Insurance, Sony Assurance, Sony Bank, as well as nursing care and venture capital businesses. Each company has established a strong presence in their respective fields by prioritizing customer-centric services.

SFG’s medium-term management plan, commencing in April 2024, emphasizes “Ambidextrous Management” based on “Deepening and Exploring.” This strategy focuses on “Deepening” existing businesses for growth and “Exploring” new avenues for further expansion to achieve sustainable enhancement of corporate value. Within the “Exploring” domain, which is considered a core element of the growth strategy, SFG has identified the small-amount and short-term insurance business as a key strategic area for expanding its customer base.

Amidst the rapidly changing environment surrounding SFG and the financial industry, and broader societal changes, SFG has decided to bring justInCase into the SFG family. This move aims to quickly establish a new business platform in the “Exploring” domain. justInCase has been pursuing unique and innovative initiatives in the small-amount and short-term insurance industry.

justInCase, founded in 2016, has established itself as a leading InsurTech company in Japan, upholding the vision of “Bringing the joy of helping and being helped to everyone.” The company has rapidly developed data-driven, personalized products, including smartphone insurance, health promotion insurance, and Japan’s first P2P insurance.

Going forward, SFG plans to organically integrate justInCase’s agile product development capabilities with the diverse distribution channels of SFG group companies. This includes Sony Life’s life planners, and Sony Assurance and Sony Bank’s direct and online channels. This collaboration aims to develop and offer new insurance products and services that transcend the boundaries of traditional life and non-life insurance, contributing to reaching new customer segments.

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