SHANGHAI -- Sompo Japan Nipponkoa Insurance will start selling overseas travel insurance to employees of Chinese companies for up to 20% less than policies sold generally over the Internet.
A unit of the Sompo Japan Nipponkoa Holdings arm will contract with Chinese businesses, including subsidiaries of Japanese companies, to let employees easily purchase insurance in-house online. Sales will initially focus on Japanese businesses, with which Sompo Japan Nipponkoa has a strong client base.
The insurer also offers overseas travel insurance to Chinese on its website, but sales have been hampered by low name recognition in this country. By inking contracts to sell in-house online, it aims to put potential customers more at ease.
Sompo Japan Nipponkoa hopes to attract demand from Chinese workers traveling abroad, whose numbers are growing as incomes rise.