As Japan suffers another scorching summer, insurers see rapidly growing demand for heat-related illness coverage that boasts easiness and flexibility in contracts compared with traditional insurance products.
Customers use smartphone apps to apply for the services, which even include single-day contracts for coverage during outdoor concerts and sporting events, for example.
Provided by Kyodo
Already recording temperatures of more than 40 C in various locations in July, the Japan Meteorological Agency has issued alerts against heatstroke and heat exhaustion in many regions, urging people to stay indoors as much as possible during daylight hours.
For the week through July 28, more than 12,000 people were taken to hospitals across the country due to heat-related issues, emergency workers said.
One such insurance policy, provided by a subsidiary of Sumitomo Life Insurance Co. and available every summer since 2022, saw its contracts surpass 100,000 this year as of July 25, including a rapid increase of around 30,000 only in 10 days from July 16.
Its policyholders can choose between monthly coverage and a contract where they can decide the insurance period from one to 7 days. Contractors of the latter type can be covered starting from 10 a.m. if they complete their application by 9 a.m. the same day.
The premium for one-day coverage is 100 yen ($0.7) per person, and 10,000 yen will be paid if the policyholder receives intravenous treatment for heatstroke. Premiums can be paid via PayPay, one of the most widely used payment apps in Japan.
A similar service was launched in June by a group company of Tokio Marine & Nichido Fire Insurance Co. and Japan's largest mobile carrier NTT Docomo Inc. Subscribers to the insurance can pay premiums through NTT Docomo's "d payment" service.