Rakuten Pet Insurance to transfer insurance contracts for individual policyholders to Rakuten General Insurance from April
Rakuten Pet Insurance to transfer insurance contracts for individual policyholders to Rakuten General Insurance from April
By uavtechnology
26 Nov 22
Rakuten Insurance will sell pet insurance from April
Rakuten Small Amount Short Term Insurance (Rakuten Pet Insurance), which provides pet insurance, will be available from January 24, April 1, 2022. Rakuten announced that it will transfer all pet insurance policies for individual policyholders, which will expire in 2020, from Rakuten Pet Insurance to Rakuten General Insurance.
Expected to exceed legally mandated business scale in the near future
Rakuten Pet Insurance joined the Rakuten Group in 2018. Since then, the company has steadily increased the number of contracts as the needs for pet insurance increased, and annual premium income in FY2021 is expected to be about 4.3 billion yen. However, since Rakuten Pet Insurance is a small-amount, short-term insurance business, the scale of business is stipulated by law as annual premiums received under 5 billion yen. Pet insurance is expected to continue growing in the future, and at this rate, Rakuten Pet Insurance's annual premium income is expected to exceed the business scale limit for small-amount, short-term insurance businesses in the near future. Therefore, Rakuten Pet Insurance has decided to transfer all pet insurance contracts for individual policyholders to Rakuten General Insurance, a group company, so that it can continue to provide services in the future. From April 1, 2022, Rakuten Insurance will handle underwriting and new sales of pet insurance. (From the Rakuten Pet Insurance website) ▼External link Rakuten Pet Insurance News Release https://www.rakuten-ssi.co.jp/news/post_92.html ●News category related to this article: Other (Article provided by: Supermarket) Academy)
