26 October 2020Insurance

Tokio Marine strikes strategic partnership with Lemonade

Tokio Marine Holdings has formed a strategic partnership with AI-powered insurtech Lemonade to enhance its operational efficiency by leveraging on new and advanced technologies.

As the first step in a collaboration, Tokio Marine will participate in the reinsurance programme of Lemonade.

Through the partnership, Tokio Marine aims to launch new products/services which align with the changes of behavior and demands of customers.

The re/insurer will also explore reconstructing its business model to cope with the post-COVID-19 environment.

Additionally, Tokio Marine will explore collaboration themes with Lemonade, such as technologies and design that deliver superior CX and UI (user interface); use of third party data for precise and risk-sensitive underwriting, and efficient and prompt claims payment.

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