Controlexpert Japan
Began full-scale business in Japan
13.01.2021
Control Expert Japan (Minato-ku, Tokyo, CEO Shigenari Mochizuki), the Japanese subsidiary of the German-based insurtech company Control Expert (CE), has begun full-scale business development in Japan. The company provides hybrid automobile accident appraisal solutions using the latest technology, and has approximately 140 P&C as clients in 17 countries around the world, contributing to operational efficiency. Based on CE's experience, we asked Mr. Mochizuki, CEO of the company, about the features of the company and its future business development, saying, "We want to breathe new life into the Japanese insurance industry."
CE was established in Germany in 2002, and the company's business mainly focuses on automating and streamlining the automobile accident appraisal process using the most advanced AI and image recognition technologies. The company currently operates in 17 countries around the world, mainly in Europe, Asia, the US, and South America, and supports about 140 auto insurance companies, including global insurance companies such as the Allianz Group, Zurich Group, AIG Group, and AXA Group, in their automobile accident appraisal operations.
Shigenari Mochizuki, who spent 10 years leading software companies for the insurance industry, including stints at Deloitte Tohmatsu Consulting, SAP Japan, and Lehman Brothers Securities in the U.S., took over as CEO in August.With the addition of Yasushi Kuriyama, a former executive director of The General Insurance Association of Japan (GiAJ) and current advisor to independent insurance agents of Japan, INC., as a senior fellow, and Masakazu Masushima, a leading insurtech expert at Mori Hamada & Matsumoto, as an advisor, CE has put in place a down-to-earth structure with deep knowledge of the industry, allowing it to expand its business in Japan in earnest.
A unique feature of the company's auto accident appraisal platform is that it makes use of various data that CE has accumulated over the past 17 years by supporting approximately 140 P&C companies. The company provides a platform that utilizes the accumulated image data and historical data and AI to streamline adjuster operations. Other solutions include asking customers who have been in an accident or have been involved in an accident to take damage photos of their car and upload them to the company so that the AI can instantly estimate the value of the car and display the results. As Japan is one of the most disaster-prone countries in the world, cars are often damaged during disasters, and the company believes that this solution can be used for valuation work in such cases. CE has experienced adjusters, called car experts on staff, which means it can provide a hybrid solution that combines cutting-edge AI and image recognition technology with car experts familiar with the Japanese adjuster business.
Mr. Mochizuki commented: "Our strength lies in our accumulated operational know-how and data from our 17 years of experience, and our ability to combine this with cutting-edge technologies such as AI. We want to apply the know-how of the German insurance industry, a leader in DX, in an optimal way to Japan."
Mr. Kuriyama, who was appointed as a Senior Fellow at CE, added: "CE is not a digital attacker like early Insurtech companies, but a good German company that aims for a win-win relationship with insurance companies. It will be an influential partner in the loss adjustment sector of the auto insurance industry." Mr. Masujima said, "This is not a company that is just trying to ride the InsureTech trend and apply technology to the insurance industry for market size and sales, but a company with a solid understanding of insurance practices and a down-to-earth philosophy of integrating technology and people to improve the efficiency of insurance operations.
The company is already working with several insurance companies, including a large P&C insurer, and plans to respond quickly to clients' needs. The company intends to build a stable business base by expanding its scale and human resources.