Frich Co., Ltd. Frich, a P2P insurance platform, received first place in the Tokyo Financial Award
Frich, a P2P insurance platform, wins first place in Tokyo Financial Award Announced Japan’s first two attempts (P2P insurance platform based on SNS friendship, P2P type pet insurance specialized for specific dog breeds)
Frich Co., Ltd. (Minato-ku, Tokyo, CEO Gentaro Tominaga), which is developing a P2P insurance platform, is ranked first in the financial innovation section of the Tokyo Metropolitan Government’s “Financial Innovation Award” as a result of the final examination. Was elected. In response to requests from residents of the city to provide services that can realize insurance sharing, we proposed a solution using the P2P insurance platform “Frich”. Details are as follows.
In addition, this is Japan’s first P2P insurance platform based on SNS friendship, and the following “P2P type pet insurance service specialized for specific dog breeds” below. (Both our research) 1. Needs of Tokyo residents
ほ し い I want a service that can realize insurance sharing
2) Solution overview
SNS friends who have common insurance needs for those who have insurance needs but have not been provided with insurance services due to the small market size (or the insurance service price is high and it is difficult to subscribe) It provides a platform for peer-to-peer (P2P) groups to subscribe to insurance services.
3) Business development
The first plan is to provide a “P2P pet insurance service specialized for specific dog breeds”.
An insurance service based on a community of friends specializing in specific dog breeds, not only reducing the burden on the owner in an emergency, but also improving the problem of giving up the dog for financial reasons (breeding abandonment) I want to contribute to In the future, we plan to use the “Frich” mechanism in various insurance fields (for single mothers, etc.) where there are many people who have potential insurance needs but are also in need. In addition, the Tokyo Metropolitan Financial Award Financial Innovation section has set 25 themes based on financial services needs and issues from the Tokyo residents, and recruited financial institutions from Japan and overseas that meet these themes. There were applications for solutions from 17 countries and regions, including Japan, and 80 businesses. The Company was selected as one of the five companies that passed the primary screening as a participant in the Tokyo Financial Awards Financial Innovation Division Support Program.
(Reference) Overseas similar cases
“ BOUGHT BY MANY Pug Insurance ” https://boughtbymany.com/ Pug is a dog breed that has been rapidly gaining popularity in the UK in recent years, but in fact it was susceptible to eye diseases and respiratory illness, and in some cases it could not be joined by a general UK insurance company. BOUGHT BY MANY has successfully recruited groups, secured a certain number of people, negotiated with insurance companies, and reduced the pug owners’ insurance coverage and premiums.
■ Frich Corporation
An insurtech startup developing a P2P insurance platform.
In September 2019, we received Japan’s first investment from Plug and Play Japan.
1. Established: January 2018
2. CEO: Gentaro Tominaga
3. Location: 6F, A-PLACE Shimbashi Station, 1-12-9 Shimbashi, Minato-ku, Tokyo 4. Business: ・ P2P insurance platform service
損害 ・ Non-life insurance agency business and recruitment of life insurance
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