JustInCase

JustInCase operates as a key Insurtech entity in Japan, concentrating on digitally native insurance products and platforms. The company was founded in December 2016 by Kazuya Hata, Shinichi Nasukawa, and Hiroo Koizumi. CEO Kazuya Hata possesses a deep background in actuarial science, having started his career at Milliman before working for investment banks like JP Morgan and Nomura, where he consistently provided services to insurance companies. This experience in product development and risk management for insurers underpins the company's strategic direction. Hata's journey began with a mathematics degree from Kyoto University; recognizing the intense competition in pure mathematics, he strategically pivoted to actuarial science to apply his quantitative skills in a niche where he could create a more significant impact.

The company's business model is dual-pronged, featuring both direct-to-consumer (B2C) offerings and a business-to-business (B2B) SaaS platform. Initially, JustInCase gained traction with its B2C products, obtaining a small and short-term (SSI) insurance license in 2018. This allowed them to launch a series of first-in-Japan products, including smartphone insurance that uses AI to analyze user behavior and adjust premiums, and P2P (Peer-to-Peer) insurance. In 2019, JustInCase received regulatory approval through Japan's sandbox system to test its P2P cancer insurance, named "Warikan Hoken". This product calculates premiums based on the actual claims paid out in the previous month, with the cost being shared among the pool of policyholders, plus a management fee.

Recognizing the broader market need for digital insurance infrastructure, the company launched a B2B offering through its sister company, justInCaseTechnologies, established in May 2018. This entity developed "joinsure," a cloud-based, SaaS insurance system. Joinsure provides an end-to-end operational platform for insurance companies, covering policy applications, management, and claims. The system is designed as middleware to help both new and established insurers quickly launch digital products, including embedded insurance, thereby significantly reducing the typical development time and cost associated with legacy systems. This platform supports various insurance types, from small-amount short-term policies to life and non-life insurance, and has been adopted by clients like Hokkaido Electric Power and Japan Airlines (JAL). In November 2024, Sony Financial Group announced the acquisition of JustInCase, aiming to integrate the startup's agile product development capabilities to expand into new customer segments and develop products that cross traditional life and non-life insurance boundaries.

Keywords: Insurtech Japan, P2P insurance, SaaS insurance platform, digital insurance, embedded insurance, joinsure, Kazuya Hata, small amount short-term insurance, Warikan Hoken, online insurance, usage-based insurance, insurance API, policy management system, smartphone insurance, cancer insurance, regulatory sandbox, Sony Financial Group, Tokio Marine, Hokkaido Electric Power, JAL Insurance