Japan’s Smartpay & Chubb introduce embedded insurance in BNPL

By Gloria Methri

Smartpay Corporation has launched embedded insurance products in the Japanese market following a one-year partnership with Chubb Insurance Japan.

Embedded insurance is a mechanism that seamlessly integrates insurance into the payment process when consumers purchase products or services. For example, this includes options to purchase travel insurance simultaneously when buying airline tickets online. This method simplifies the insurance application process and enables appropriate coverage to be provided at the optimal timing for consumers.

Through its partnership, Smartpay is bringing innovation to the insurance industry. By providing solutions at the moment of need, the company aims to transform the nature of insurance. Its embedded insurance technology is integrated into the payment process, providing appropriate coverage instantly when customers need it.

Smartpay and Chubb Japan plan to provide their first embedded insurance product in BNPL in summer 2025 in partnership with Fútbol Opción, a soccer cultural exchange program provider operated by Actif LLC.

While soccer cultural exchange programs represent a significant investment for families, Smartpay’s installment payment option allows children to realise their dreams while reducing the burden on household finances.

Additionally, having insurance coverage during international travel is a crucial element for parents’ peace of mind. Through this partnership, families can now handle both program fee installments and insurance enrollment in one process, making soccer exchange opportunities accessible to more young people.

Chubb is a global company with a track record of successful partnerships with major financial institutions worldwide. In 2018, it partnered with Grab, Southeast Asia’s largest super app, to provide insurance products to millions of Grab users. Additionally, it has led digital transformation and technological innovation in the insurance industry, such as partnering with Nubank, Brazil’s largest digital bank, to provide fully digitalised life insurance.

In this context, Chubb’s selection of Smartpay as its first embedded insurance business partner in Japan demonstrates strong confidence in our innovative approach, technological capabilities, and market potential.