Sompo partners with Stanford University, startup incubator

Joint project to study and develop insurance-related products and services with self-driving vehicles in mind

Sompo partners with Stanford University, startup incubator

Insurance News

By Gabriel Olano

Japan-based insurance group Sompo Holdings has formed a partnership with Stanford University and an American startup incubator to jointly develop insurance-related products and services in the advent of autonomous vehicle technology.
This is the first time for both the Centre for Automotive Research at Stanford (CARS) and San Francisco-based venture capital firm Comet Labs to collaborate with a Japanese non-life insurer.
CARS, founded in 2008, is one of the foremost research organizations for autonomous vehicles and is currently conducting joint projects with auto companies such as Volkswagen of Germany and Toyota of Japan.

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Comet Labs, which started in 2015, has been engaged in the funding of various startup firms in the fields of artificial intelligence and robotics.
Meanwhile, Sompo has been researching heavily on insurtech, aiming to promote innovation and keep the insurance industry abreast the latest developments in technology. In April 2016, the company launched its Sompo Digital Lab facilities in Tokyo and Silicon Valley. The Silicon Valley lab has also partnered with Plug and Play, LLC, another US-based startup accelerator.

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