#Japan #Tokyo #Inspire #Finatext #Wiz Insurance

Finatext Introduces Inspire Platform for Digital Insurance

In a significant development in the insurance sector, Finatext Group, a fintech company based in Tokyo, has launched its SaaS-based digital insurance system called Inspire. This innovative platform is now being utilized by Wiz Short-Term Insurance for their device repair cost insurance, specifically designed for digital gadgets like smartphones.

As the prices for devices continue to rise, there is a growing demand for insurance products that can protect against damage or failure due to natural causes. Wiz Short-Term Insurance's device repair cost insurance offers coverage up to ¥50,000 annually for a monthly premium of only ¥450, thereby catering to the increasing need for such financial products. This insurance is seamlessly integrated into mobile applications where consumers can easily enroll without complications.

Finatext's Inspire system provides a comprehensive set of functionalities critical for insurance operations, including online quoting, application processing, assessment, contract management, claims handling, and renewals—all in a single platform. With a robust system design, Inspire ensures enhanced flexibility, scalability, and efficiency in development, making it the preferred choice for 12 different insurance providers, including both small-scale short-term insurance companies and major casualty insurers as of April 2025.

The successful prior development of coverage policies for digital devices paved the way for Wiz Short-Term Insurance to adopt Inspire as their sales system for the device repair insurance. Notably, the system's unique API integration facilitates a smooth user experience within the app, allowing for an outstanding enrollment pathway.

The Inspire platform's functionality extends beyond ease of use; it is a testament to Finatext’s commitment to leveraging technology to support innovative insurance solutions. By continually providing advanced tools and solutions, Finatext aims to bolster the digital insurance initiatives spearheaded by Wiz Short-Term Insurance.

About Finatext Group

Finatext Group’s mission is to reinvent finance as a service by offering next-generation financial infrastructure, aiming for embedded finance solutions. The group includes several subsidiaries such as Finatext, which leads fintech solutions and infrastructure for insurance; Nowcast, specializing in alternative data analysis; SmartPlus, which provides securities business platforms; and SmartPlus Short-Term Insurance, focusing on next-generation digital insurance solutions.

Finatext was established in December 2013 and has its headquarters in the Kudan Building in Chiyoda, Tokyo. The company has been actively promoting innovative financial services, striving to create a world where finance is more integrated into daily life. Its CEO, Akane Kinoshita, has emphasized the importance of technological advancement in achieving these goals.

Future Vision

Looking ahead, Finatext plans to enhance Inspire’s capabilities further, aligning with the evolving landscape of digital insurance. By continuing to innovate in embedded finance and insurance solutions, the company is committed to supporting its partners and ensuring they maintain a competitive edge in the marketplace.

Finatext’s Inspire system is more than just technology; it represents the future of how insurance can be delivered in the digital age, providing seamless experiences for consumers while meeting their financial needs effectively.