Startups pitch to Japanese executives during Cambridge Tech Week

With more than 34 million customers in Japan and assets totalling ¥69.9 trillion (approximately £350 billion), Dai-ichi Life is exploring opportunities to collaborate with UK innovators to build a new generation of value-added services across sectors including finance, investment and legacy planning.

Dai-ichi Life is part of the Dai-ichi Life Group, which has a strong track record of UK investment, including taking a stake in British wellbeing startup YuLife in 2022 and, more recently, collaborating in the launch of YuLife’s business in Japan.

The Group also has a long-standing partnership with UK global savings and investment company M&G and has just increased its investment in UK asset management company Capula.

During the event, called Finding the Future of Insurance & Finance, each of the British companies will present its technologies to Dai-ichi’s Innovation Division. They will then take questions, before joining a networking session with the Dai-ichi team and the other delegates.

The event will also feature a keynote address from Atsushi Okada from Dai-ichi Life’s London Innovation Lab, the Group’s representative in Europe for innovation activities.

The UK companies’ pitch presentations will be judged by three senior managers from Dai-ichi Life: Nandha Rajan (Chief Information Officer at Neo-first Life); Atsushi Izu (Head of the Digital Innovation Group and Head of Global Dai-ichi Innovation Lab) and Atsushi Okada.

Atsushi Izu said: “With the insurance industry facing a paradigm shift in its operations, Dai-ichi Life is seeking bold innovations that will help us redefine the future of insurance – right from claims processing and financial wellbeing through to end-of-life care.

“Participating in this pitch event at Cambridge – a hub of global innovation – is a demonstration of our commitment to find breakthrough technologies and visionary partners.

“We’re not just looking for ideas. We’re looking for real solutions which we can co-develop and implement to accelerate our transformation into a comprehensive, life-enhancing insurance services provider.”

The UK firms pitching to Dai-ichi Life include:

• Sprout.ai, which has developed an AI-driven claims platform it says is capable of instantly settling more than 60 per cent of claims with 96–99 per cent accuracy

• Adeus Life, developer of an AI-powered system for creating, signing and securely storing wills and key documents, making legacy planning more accessible and secure, and

• Nudge Global, which applies behavioural science to promote financial wellbeing, providing personalised education on budgeting, saving and investing.

“We’re excited to be participating at this event with Dai-ichi Life, whose commitment to innovation in insurance aligns closely with our mission,” said Roi Amir, CEO of Sprout.ai.

“We’re already working with leading insurers such as MetLife and AXA globally, and we look forward to demonstrating how AI is driving a step-change in the insurance industry – ensuring every claim is managed more quickly and accurately.”

The UK companies were selected for participation by Intralink, the international business development consultancy which is organising the event.

Based near Oxford, Intralink helps companies secure customers, partners and investors overseas. With teams on the ground in the biggest Asian markets, it has a long track record in helping British tech firms to build commercial links with corporations in Japan, as well as those in China, Korea, Taiwan and across Southeast Asia.

It takes a distinctive approach to this, not only developing market expansion strategies but also playing a hands-on role in identifying business opportunities, engaging customers and concluding deals on behalf of its clients.

Konomi Ueki, Senior Growth Manager at Intralink, added: “We’ve been working with Dai-ichi Life for six years, helping the corporation to identify innovative partners in Europe for proof-of-concept trials, research initiatives and other collaborations that will enhance its services and enable new business models.

“This is a unique, exciting opportunity to accelerate the companies’ growth through collaboration with one of the world’s leading insurance providers.”

Finding the Future of Insurance & Finance takes place at Mishcon de Reya LLP, Station Square, Cambridge, on Monday 15 September from 2.00–5.00pm.

Anyone wishing to watch the event in person and join the networking session can sign up here: https://2euf3i.share-eu1.hsforms.com/2yt73lPODQp-EZYS64XK7Vw