Technology

Japanese Fintech Leader Smartpay, partners with Chubb Insurance to accelerate digitization of the Japanese Insurance Industry, Anticipated to Surge to 80 Trillion Yen (USD $500 Billion) by 2027

Published

2 years ago

March 6, 2024

TOKYO, March 6, 2024 /PRNewswire/ — The partnership between Smartpay, one of Asia’s fastest growing fintechs and Chubb, a world leader in insurance with operations in 54 countries and territories, has been established for the development of digital insurance products for Japanese consumers needs.

The need for service innovation in the Japanese insurance industry

In the Japanese insurance industry, innovation is expected to respond to the changes in the digital economy requirements from consumers post-COVID.

Demand for more efficient and smoother digital user experience with personalized insurance purchase processes and real-time support

Easy payment processes with digital-first security measures and strong consumer data protection.

The insurance market will be primarily made up of digital purchases, adding 80 trillion yen by 2027.

Why Smartpay and Chubb are partnering:

Sam Pemberton-Ahmed, CEO and Founder of Smartpay, says “The vision we have as partners is ’embedded insurance’. Embedded insurance allows consumers to purchase insurance that complements the products they are purchasing, such as furniture and travel packages, at the point of checkout. By integrating insurance into the customer journey at checkout and providing it in a personalized manner, users can purchase insurance seamlessly at a price that suits their needs.”

Japan’s Travel Insurance Market is estimated to be USD 678.89 Mn in 2023 and is expected to reach USD 1523.76 Mn by 2028, growing at a CAGR of 17.55%. 47% of Japanese travelers who have purchased travel insurance since the pandemic are seeking a new way to buy travel insurance different from the traditional methods. Embedded insurance is expected to lead the way in new practices to buy insurance and drive the growth of the expanding Japanese insurance market.

Making ‘Embedded Insurance’ that Drives Insurance Market Growth More Accessible with Smartpay and Chubb.

Sam Pemberton-Ahmed says, “We are honored to collaborate with Chubb’s world leading team and insurance products to integrate with our Japanese leading payment and digital finance solutions.”

In December 2022, Smartpay launched “Smartpay Bank Direct”, Japan’s first and only digital financing service that allows customers to pay for online purchases straight from their bank accounts. This service has given Japanese consumers who prefer not to pay by credit card (which is 70% of purchase in Japan), a digital payment method that aligns to their needs and provides convenient digital financing and installments.

Smartpay is the only payment company in Japan that has signed and integrated with the 20 largest banks in Japan and over 200 credit unions thus accessible to 90% of Japan’s population with bank accounts. Smartpay Bank Direct was developed with the Japan Electronic Payments Promotion Organization (JEPPO).

Addressing security concerns, Smartpay uses industry best practices, including user verification, two-factor authentication, biometric security, data encryption, and 3DS. Prioritizing security, Smartpay introduced 3D Secure ahead of the mandatory introduction by Japan’s Ministry of Economy, Trade, and Industry.

Chubb has a strong track record in leading digitalization and technological innovation with partnerships in the insurance industry. An example is their partnership with the Southeast Asia-based super app Grab, which started in 2018. This collaboration allowed Chubb to provide insurance products to millions of Grab users. Additionally, Chubb teamed up with Brazil’s Nubank to offer fully digitalized life insurance. This partnership enabled local customers to access a wide range of financial services.

By combining Smartpay’s achievements of various domestic initiatives, such as Smartpay Bank Direct and Chubb’s innovation in the insurance field, the two companies will provide innovative digital insurance solutions in the future, starting with embedded insurance in Japan.

Smartpay Corporation, which provides the digital financing service “Smartpay” (Headquarters: Minato-ku, Tokyo, Managing Director and Chief Revenue Officer: Naoya Otsubo, hereinafter referred to as “our company”), has entered into a business partnership with Chubb Insurance, a Japanese subsidiary of the world leader in insurance, Chubb Group (hereinafter referred to as “Chubb”), for the development and provision of digital insurance products.

About Smartpay

Smartpay is introducing several first-to-market features in Japan for both consumers and merchants. For consumers, Smartpay is the first in Japan to offer no interest, no late fees, and free of charge services. It provides the only checkout process with credit card or direct from bank account that takes less than 10 seconds and with a hassle-free fully automated installment experience. Additionally, there is no need for consumers to visit a convenient store for installment payments or have cash ready for delivery, and there is no information sharing anxiety for consumers with merchants they don’t know. The service offers three installments over an eight-week period.

For Japanese merchants, Smartpay takes all the fraud risk, which is critical as we transition to digital payments. It manages all fraud chargebacks, saving money, time, and resources for merchants. Smartpay’s integration process is fast, requiring only a day with its highest quality SDKs and APIs compared to the industry norm of two weeks. Apple Pay and Google Pay are automatically integrated into the Smartpay solution, saving merchants from costly integration resources. Additionally, Smartpay offers free e-commerce training for 10,000 Japanese merchants to learn e-commerce best practices in increasing website conversions, attracting new customers, and increasing the average order value for businesses. For more details, please visit https://smartpay.co/.

About Chubb Insurance Japan

Chubb Insurance Japan provides property and casualty, accident and health, automobile, travel and other types of insurance to both individuals and businesses. Chubb Insurance Japan has over 100 years of experience in the Japanese market, through its predecessor companies, the longest among all foreign insurers in Japan.

Chubb Insurance Japan is rated AA- by Standard & Poor’s (as of March. 2024).

About Chubb Group and Chubb Limited

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. We combine the precision of craftsmanship with decades of experience to conceive, craft and deliver the very best insurance coverage and service to individuals and families, and businesses of all sizes.

Chubb is also defined by its extensive product and service offerings, broad distribution capabilities, direct-to-consumer platform partnerships, exceptional financial strength and local operations globally. The company serves multinational corporations, mid-size companies and small businesses with property and casualty insurance and risk engineering services; affluent and high net worth individuals with substantial assets to protect; individuals purchasing life, personal accident, supplemental health, homeowners, automobile and specialty personal insurance coverage; companies and affinity groups providing or offering accident and health insurance programs and life insurance to their employees or members; and insurers managing exposures with reinsurance coverage.

Chubb has $228.8 billion in assets and reported $57.5 billion of gross premiums written in 2023. Chubb’s core operating insurance companies maintain financial strength ratings of AA from Standard & Poor’s and A++ from A.M. Best.(As of March 2024)

Chubb Limited, the parent company of Chubb, is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index.

Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 40,000 people worldwide.

1:https://covergenius.com/embedded-insurance-travel-japan/
2:https://www.gfmreview.com/press-release/smartpay-japan-wins-the-fastest-growing-fintech-asia-2023-award-by-global-financial-market-review

View original content:https://www.prnewswire.com/apac/news-releases/japanese-fintech-leader-smartpay-partners-with-chubb-insurance-to-accelerate-digitization-of-the-japanese-insurance-industry-anticipated-to-surge-to-80-trillion-yen-usd-500-billion-by-2027-302080241.html

SOURCE Smartpay K.K.

Technology

AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future

Published

3 hours ago

July 18, 2026

Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda

BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.

Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.

Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.

VOICES FROM THE SUMMIT

“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei

“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand

“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA

“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF

“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)

“We fixed it before you feel it! AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS

“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia

“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia

“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom

“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei

“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU

“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)

“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA

“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G

“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA

“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International

“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT

“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART

“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei

A CONVERGING VIEW

Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.

WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.

In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/ai-powered-connectivity-apac-charts-a-path-to-a-smarter-digital-future-302829032.html

SOURCE HUAWEI

Technology

Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

Published

4 hours ago

July 18, 2026

Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen:

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

View original content to download multimedia:https://www.prnewswire.com/news-releases/laifen-expands-us-retail-footprint-with-costco-launch-of-best-selling-se-hair-dryer-302828573.html

SOURCE Laifen

Technology

Pillsbury Notice of Data Breach

Published

7 hours ago

July 18, 2026

NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pillsbury-notice-of-data-breach-302828892.html

SOURCE Pillsbury Winthrop Shaw Pittman LLP