Tokyo, Japan - In a move that signals further integration of insurance and e-commerce, Z Holdings Corporation, in collaboration with its affiliate Yahoo! Japan, Z Financial Corporation, and PayPay Insurance Service, has launched a repair insurance policy tailored for furniture purchases made through Yahoo! shopping, the online marketplace operated by Yahoo!
Why it matters:
This insurance expansion marks another step in the digital transformation and integration of online shopping and financial services, potentially paving the way for more synergies in the future.
The Key Points.
- Expanded service: The "Anshin Repair" service, which previously provided insurance coverage for appliances and smartphones, now includes furniture, covering repair costs for damage, stains, or malfunctions.
- One-stop insurance: Customers can seamlessly purchase insurance while adding furniture to their cart, streamlining the shopping experience. They can choose either 3-year or 5-year coverage.
- Digital convenience: If an insured item is damaged within the coverage period, claims can be quickly filed using a smartphone or computer. Payment options include PayPay balance or credit cards linked to Yahoo!
- User adoption: "Anshin Repair enjoys strong user adoption with up to 42,000 daily subscriptions.
- Coverage details: Furniture items ranging from 5,000 yen to 1 million yen - including sofas, chairs, and beds - are covered. Compensation covers damage up to the purchase price, with a JPY 3,000 deductible. For example, a couch costing JPY 30,000 yen would have a premium of JPY 900 for a 3-year plan and JPY 1,500 for a 5-year program.
The Big Picture
In addition to Yahoo! Shopping, PayPay Insurance Service also extends to Yahoo! Travel, offering compensation for domestic travel cancellations, accommodation, or flight delays.
PayPay Insurance Service underscores its mission to make insurance more accessible to users by tailoring products to specific needs.
As the companies under the umbrella of Z Holding are integrated as "LY Corporation," the services between the companies will be introduced to the Japanese market.