Marsh Japan launches insurance API organisation

29 January 2020

New initiative to promote digitization of the insuracne industry

Tokyo, January 29, 2020 – Marsh, the world’s leading insurance broker and risk adviser, today announced the launch of Insurance API (Application Program Interface) Organization, a forum for bringing together companies from across the Japanese insurance industry to discuss how global emerging technology solutions can transform the delivery of insurance and risk advisory services for clients in Japan.

Launched in conjunction with IRCC Corporation, a pioneer in API connectivity, and hokan, a new Insurtech company, Insurance API Organization will explore how technological innovations can be used to develop innovative products and new business models that will enable insureds to meet the rapid changes in the global risk landscape. The first forum was held in Tokyo on January 16, 2020 and attracted more than 150 participants.

Although the adoption of digital technology has accelerated in the Japanese insurance industry, members of Insurance API Organization will benefit from learning about a wider range of innovations that could help improve operational efficiency and customer satisfaction through nimbler transactions and a simpler contracting processes.

Chikara Nakanishi, President of Marsh Japan, Inc. said: “By bringing together insurers, insurance buyers and Insurtech companies to discuss enhanced digitization we will be able to improve our industry’s offering to clients. By utilizing the best of global advances in digital technology and disrupting our traditional models, we will make great strides in delivering greater value. Our vision is to establish a new insurance ecosystem with open API technology, sharing advanced transactional know-how with a wide range of stakeholders.

The API initiative marks Marsh’s latest innovation in the digital space and follows the global launches of next-generation client and carrier-facing digital capabilities, Bluestream digital broker platform, and the creation of Marsh Digital Labs.

“The launch of Insurance API Organization includes many of the newly launched Insurtech companies in the local market as well as nationwide insurance agencies and system developers,” Mr. Nakanishi added. “Through its forums, we will be able to promote a deeper understanding of the advantages of digital connectivity in our market and explore possible API opportunities among member companies and also with related industries.”

About Marsh

Marsh is the world’s leading insurance broker and risk advisor. With around 40,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data-driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. With annual revenue over $18 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. For more information, visit mmc.com, follow us on LinkedIn and Twitter or subscribe to BRINK.

Media contact

Yumiko Takada

Marketing and Communications, Japan
+81-3-6775-6183