TOKYO – Tokio Marine & Nichido Fire Insurance Co. will start selling car insurance by the hour to Japan’s ride-hailing operators, Nikkei has learned, a first for a Japanese insurance company.
Tokio Marine’s insurance, which will start in January, will calculate premiums on an hourly basis based on data from ride-hailing apps. Premiums will vary, but expect about 70 yen to 200 yen (50 cents to $1.42 USD) per hour.
