Tokio Marine Holdings, Inc.

Tokio Marine Holdings, Inc.
's cases

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

Tokio Marine Holdings, Inc.

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.
- 2024.10.15
- Reduce
- Reuse/Efficient use
- Recycle
- End-of-use
- Automobile
- Company in different category.
- Currently under implementation (already in business)

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.

2024.10.15
Reduce
Reuse/Efficient use
Recycle
End-of-use
Automobile
Company in different category.
Currently under implementation (already in business)

Basic values and policies for initiatives towards circular economy

The Tokio Marine Group has specified eight material issues (materiality) which includes "Take Climate action" and "Protect the natural environment" based on the belief that it is our responsibility to pass on a sustainable environment and society to future generations. As one of our strategies to address these initiatives, we will promote circular economy through our business.

Market opportunities and our strengths in circular business

As a global P&C insurance company, we are working together with our partners to create a system for circular economy by leveraging our strength in collecting a variety of information on accidents. For example, by leveraging our history of handling automobile accidents and our networks with dismantlers and chemical manufacturers, we have started to establish a scheme to recover and reuse parts of vehicles that have become total losses. In addition, we are collaborating with other companies to collect data related to food loss and developing insurance that compensate for the cost of food recycling.

Setting indices/targets

Tokio Marine Holdings will promote the Group's unique circular economy initiatives on a global basis, including the development and provision of new insurance products and services aimed at recycling various materials acquired as a non-life insurance company.

Implementation system

The Sustainability Committee, consisting of the CEO, Chief Officer and other top-level executives, is held four times a year to review annual plans and progress in each materiality. The Circular Economy initiatives are important for the future generation and we are working to spread and further promote the initiatives by sharing good practices within the Group at the committee.

Reference URL

https://www.tokiomarinehd.com/en/sustainability/pdf/sustainability_web_2023.pdf

https://www.tokiomarinehd.com/sustainability/pdf/sustainability_tnfdreport_202403.pdf

Tokio Marine Holdings, Inc.