Tokio Marine first Japan nonlife insurer to cover AI-enabled robots

What happened: Tokio Marine Holdings will begin selling insurance for AI-powered robots starting next month, becoming the first Japanese nonlife insurer to do so. Key numbers: Premiums are set to be 20% higher than regular industrial counterparts. The global physical AI market is projected to exceed $80 billion by 2035. Why it matters: The product targets a market expected to grow past $80 billion within 10 years, with Tokio Marine positioning as the first Japanese nonlife insurer in this segment.

Tokio Marine Holdings will begin selling insurance for AI-powered robots starting next month, becoming the first Japanese nonlife insurer to do so.

The product targets a market expected to grow past $80 billion within 10 years, with Tokio Marine positioning as the first Japanese nonlife insurer in this segment.