Recovery and Reuse of Auto Parts from End-of-Life Vehicles

When an automobile accident happens and its insurance company pay the claim in full amount of the automobile insurance, the ownership of the vehicle is transferred from the insurance policyholder to the insurance company. As a non-life insurance company, we acquire a large number of end-of-life vehicles nationwide as a result of automobile accidents. In order to reduce environmental impact, we have been making efforts to place the acquired end-of-life vehicles into recycling and reuse processes.

As part of such efforts, three Tokio Marine Group companies, Tokio Marine & Nichido, E. design Insurance and Nisshin Fire who acquire end-of-life vehicles in exchange for the payment of insurance claims, are collecting the automobile parts from the vehicles such as lamps and airbags through the network of auto dismantlers. We work with chemical manufacturers and other partners to regenerate raw materials from the parts and to reuse them.

The initiative serves both to reduce waste through circular economy and to help achieve decarbonization. It is said that reusing of materials from used parts such as lamps and airbags, for example, can significantly reduce CO2 emissions compared to manufacturing new products from virgin materials.

As insurance companies handle many end-of-life vehicles, we will continue to contribute to the achievement of decarbonization by expanding the recovery and reuse of auto parts from end-of-life vehicles.