Tokio Marine Launches Insurance for AI-Powered Robots in Japan
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- Nikkei.com
Tokio Marine Holdings is set to introduce insurance coverage for artificial intelligence-enabled robots starting next month. This initiative marks Tokio Marine as the first nonlife insurer in Japan to offer such coverage, responding to the anticipated growth in the global AI market, which is projected to surpass $80 billion by 2035.
The introduction of this insurance product is significant as it addresses the emerging risks associated with AI technologies in industrial applications. With premiums expected to be 20% higher than traditional industrial insurance, Tokio Marine is positioning itself to cater to a growing market that increasingly relies on AI-driven solutions.
Tokio Marine's new insurance offering will be closely monitored as the company aims to capitalize on the expanding AI market. The specific details regarding the coverage and terms will be revealed upon the product launch next month, highlighting the insurer's commitment to innovation in response to technological advancements.
Original report
Tokio Marine first Japan nonlife insurer to cover AI-enabled robots
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