Search company, investor...
Search

Predict your next investment

Sompo Japan Nipponkoa company logo
Corporation
FINANCE | Insurance
sjnk.co.jp

See what CB Insights has to offer

Investments

11

Portfolio Exits

1

Partners & Customers

5

About Sompo Japan Nipponkoa

Sompo Japan Nipponkoa, part of Sompo Holdings, is an insurance-related service provider based out of Tokyo, Japan. The company's services aim to contribute to the security, health, and well-being of their customers and society, as a whole.

Sompo Japan Nipponkoa Headquarters Location

26-1, Nishi-Shinjuku 1-chome

Tokyo, 160-8338,

Japan

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Sompo Japan Nipponkoa Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Sompo Japan Nipponkoa Rank

Latest Sompo Japan Nipponkoa News

How much can I claim? Traffic accident claims simulator launched to help motorists settle out of court

Mar 21, 2022

The simulator churns out ballpark figures for claimants within a matter of minutes. PHOTOS: MOTOR ACCIDENT CLAIMS ONLINE https://str.sg/wnxm SINGAPORE - Motorists involved in an accident can now have a sense of how much damages they can claim in the eyes of the law in under 10 minutes, by just answering a series of multiple-choice questions. An online traffic accident claims simulator developed by the Singapore Courts and the Singapore Academy of Law, called the Motor Accident Claims Online (Maco), churns out ballpark figures for claimants within a matter of minutes using technology that takes into account current laws and case precedents. This is useful for people involved in the accident to decide if it is worth suing the other party or insurer in cases where there are differing accounts or evidence offered by both parties, or if one party is dissatisfied with the insurance payout. Ideally, parties can come to an agreement on the settlement without resorting to legal proceedings, saving them time and money and allowing court resources to be better spent. Right now, Maco can determine how liable a person is, depending on where the accident took place and the relative positions of the two vehicles, and how much a victim suffering from a specific type of injury can claim. For instance, a 32-year-old who has no fault in an accident that left him requiring stitches on his back can get $1,400 to $1,600, according to Maco. Meanwhile, a similarly faultless 35-year-old who needs knee surgery after his knee was dislocated can aim for a much higher sum of about $11,000 to $12,000. The simulator can be accessed for free at https://motoraccidents.lawnet.sg Motor accidents currently take up a sizeable chunk of the State Courts' time. Between 2019 and 2021, 46 per cent of civil writs filed in the State Courts were related to motor accidents. "They form a significant proportion of all civil cases in the State Courts," a State Courts spokesman told The Straits Times. "The project is currently being developed in phases and will be progressively enhanced with additional features and functionalities." The tool is currently non-binding and is not meant as a perfect substitute for legal advice. For now, the liability outcome simulator and the simulator for bodily injury claims are kept separate, even though how liable an injured motorist was in an accident would affect his potential claim in the real world. The simulators also cannot yet take into account non-injury claims like loss of income or vehicle or property damage, but they are steps in the industry's continued efforts to get to a possible future where low-level motor accidents could be entirely adjudicated by artificial intelligence (AI). Many large insurance companies, such as Sompo Japan Nipponkoa Insurance and Australia's IAG, are already developing their own AI solutions, using such technologies to analyse GPS and dashcam footage to determine payouts. Asked whether the courts are considering further integrating the simulator into the courts, the spokesman said the courts are continuing to survey the industry for new technology. He added: "The courts' adoption of technology must strike a delicate balance between being on the curve of the latest developments, and providing effective and efficient resolution for persons of all levels of digital literacy." Ms Wang Ying Shuang, a partner at law firm Rajah & Tann who specialises in insurance, said that the simulator will help manage motorists' expectations of their legal position or exposure, and allow them to decide next steps accordingly. She said it is important that the courts find ways to speed up or keep claims of small value out of court, particularly as they take up court time disproportionately and disillusion lawyers who do not charge by the hour for such cases. The same amount of (court) resources is dedicated to motor accident claims regardless of whether they are $5,000 or $50,000," she said. "Other civil issues like defamation suits and more complex issues, including contractual dispute, would arguably require more attention and resources. Since 2008, the courts have put in prescribed protocols to encourage early resolution of motor accident disputes, and there is already mandatory court-administered mediation or neutral evaluation to get parties to explore settling. But even these are conducted by district judges, although during Covid-19, online mediation hearings made the process a bit cheaper and saved time. Ms Wang said AI is unlikely to take on the role of judge and jury any time soon. "It may raise issues about whether this would affect the public's confidence in the judicial process," she said. "AI may not be equipped to come up with a 'fair' outcome having regard to the human element - sympathy and compassion - or non-tangible factors." Join ST's Telegram channel here and get the latest breaking news delivered to you.

Sompo Japan Nipponkoa Investments

11 Investments

Sompo Japan Nipponkoa has made 11 investments. Their latest investment was in SkyDrive as part of their Series C on September 9, 2022.

CBI Logo

Sompo Japan Nipponkoa Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/26/2022

Series C

SkyDrive

Yes

2

6/28/2022

Series B

Mellow

$7.34M

Yes

1

6/19/2020

Corporate Minority - II

Palantir Technologies

$500M

Yes

10

9/30/2019

Series B

Subscribe to see more

$99M

Subscribe to see more

10

7/5/2019

Series A

Subscribe to see more

$99M

Subscribe to see more

10

Date

9/26/2022

6/28/2022

6/19/2020

9/30/2019

7/5/2019

Round

Series C

Series B

Corporate Minority - II

Series B

Series A

Company

SkyDrive

Mellow

Palantir Technologies

Subscribe to see more

Subscribe to see more

Amount

$7.34M

$500M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

1

10

10

10

Sompo Japan Nipponkoa Portfolio Exits

1 Portfolio Exit

Sompo Japan Nipponkoa has 1 portfolio exit. Their latest portfolio exit was Palantir Technologies on September 30, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/30/2020

IPO

$99M

Public

4

Date

9/30/2020

Exit

IPO

Companies

Valuation

$99M

Acquirer

Public

Sources

4

Sompo Japan Nipponkoa Partners & Customers

5 Partners and customers

Sompo Japan Nipponkoa has 5 strategic partners and customers. Sompo Japan Nipponkoa recently partnered with Sompo Holdings, and akippa on October 10, 2019.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.