Press Release

Influenza Insurance service page
https://www.paypay-insurance.co.jp/promotion/influenza/app/

Z Holdings Corporation (Headquarters: Chiyoda-ku, Tokyo; President and Representative Director, Co-CEO: Kentaro Kawabe; hereinafter “ZHD”), ZHD’s group company Z Financial Corporation (Headquarters: Chiyoda-ku, Tokyo; Representative Director, President Corporate Officer, CEO: Hiroyuki Torigoe; hereinafter “Z Financial”), PayPay Corporation (Headquarters: Minato-ku, Tokyo; President & Representative Director, CEO, Corporate Officer: Ichiro Nakayama; hereinafter “PayPay”), and PayPay Insurance Service Corporation (head office: Chiyoda-ku, Tokyo; President and Representative Director, CEO: Yutaka Hyodo; hereinafter “PayPay Insurance Service”) are pleased to announce that the “Influenza Insurance” has been released and is available from the PayPay Insurance (1day Insurance) mini app*1 within the cashless payment service app “PayPay.” This is the first insurance product in Japan*2 that specializes in influenza.

*1. A feature that allows users to easily make reservations, order products, and purchase services provided by PayPay Corporation’s partner companies from the PayPay app.
*2. Based on research by Aiaru syougakutankihoken Corporation (as of December 2022).

The number of influenza cases has been on the rise since the end of last year, and the Ministry of Health, Labour and Welfare declared through a press release*3 that the situation is now a “nationwide epidemic.” This is the first nationwide outbreak since the spread of the novel coronavirus. In the unlikely event that one has flu symptoms, appropriate action must be taken, such as receiving treatment at a medical institution or taking measures to prevent further spreading.

To address these risks posed by the flu, PayPay Insurance Service has launched Influenza Insurance, which can be easily purchased through the PayPay app. If a policyholder contracts type A or B influenza during the period of insurance and is prescribed anti-influenza medication at a hospital or other medical institution, benefits to cover the medical expenses will be provided. In addition, hospitalization expenses will be covered if the policyholder is hospitalized for two days or more (one night and two days) for the purpose of treatment.

Users can easily subscribe to the Influenza Insurance for as little as 250 yen per month, and benefits can be received at the earliest on the same day. In addition, since one can subscribe their family with a single application, it is possible to prepare for infections amongst family members, such as small children and teenagers who are preparing for entrance exams.
Users can choose from three monthly plans (Easy Plan, Basic Plan, and Safety Plan) according to their needs, and premiums can be paid with PayPay Points or other types of PayPay Balances.

PayPay Insurance (1day Insurance) services have been used by many users since its launch one year ago, with the total number of subscriptions exceeding 1.2 million*4. PayPay Insurance Service will continue to help users by providing high-quality insurance products and easy-to-use services to make insurance even more accessible.

*3. Ministry of Health, Labour and Welfare, “Declaration of an Influenza Epidemic (Preliminary Report)”
https://www.mhlw.go.jp/content/001032283.pdf
*4. As of January 11, 2023.

■ Influenza Insurance Details

Coverage period

＜Period of availability＞
Current season: January 11 – March 22
Next and subsequent seasons: September 1 – March 22 of the following year (*subject to change)

＜Period of insurance＞
Current season: January 21 – April 30
Next and subsequent seasons: October 1 – April 30 of the following year (*subject to change)

Coverage

＜Medical expenses＞
When policyholder contracts influenza A or B during the period of insurance and is prescribed anti-influenza medication at a hospital or other medical institution

＜Hospitalization expenses＞
The policyholder suffers from symptoms of influenza A or B and is hospitalized for two or more consecutive days (one night and two days) for the purpose of treatment.

*The benefits can only be paid out twice.
*Limited to medical institutions in Japan.

Plans (compensation)

Monthly plans are offered in three types: Easy Plan, Basic Plan, and Safety Plan. Three plans are offered to match the needs of users.

Other characteristics

＜Easy to apply＞
The purchase can be easily made through “PayPay” and the premium is also paid through the PayPay app. If the user’s identity is verified via “PayPay,” the user does not need to enter their name or other information to complete the application, making for a smooth experience. It is also possible to cover the whole family with one purchase.

＜Easy to file a claim＞
Users can file a claim by uploading receipts and medical statements through the PayPay app.
The insurance payout will be transferred to the bank account designated by the user.

Mini app screen

Users can complete the purchase of an insurance policy with simple steps all within the PayPay app.

The insurance will be provided by PayPay Insurance Services and Aiaru syougakutankihoken Corporation (President: Katsuyuki Ando), a subsidiary of Sumitomo Life.

For more information on the Influenza Insurance, please click on the link below.
https://www.paypay-insurance.co.jp/promotion/influenza/app/

* “PayPay” provides 5 types of PayPay Balance: PayPay Money, PayPay Money Lite, PayPay Points, PayPay Bonus Lite, and PayPay Gift Voucher. PayPay Money can be used to pay for partner services and in transactions at merchants if the transaction value is within the amount deposited into the PayPay account opened after completing an identity verification process. It can also be used for sending and receiving money between PayPay users free of charge. PayPay Money can also be cashed out to a designated bank account (no withdrawal fee if using PayPay Bank). The legal nature of this is an electromagnetic record which can be used to pay for goods and other services, and can be remitted or cashed out, and is issued by PayPay who is a Fund Transfer Operator registered under Article 37 of the Payment Services Act. Based on the provisions of Article 43 of the Payment Services Act, PayPay protects the debt it owes to its users in by depositing assets equivalent to or more than the debt amount. PayPay Money Lite is an electronic money issued by PayPay, which can be purchased and used to pay for services and in transactions at merchants. PayPay users can transfer and receive PayPay Money Lite free of charge. The legal nature of this is a prepaid payment instrument issued by PayPay (Article 3, Paragraph 1 of the Payment Services Act). Based on the provisions of Article 14 of the Payment Services Act, PayPay protects the relevant assets for the purpose of protecting the owners of the prepaid payment instrument by providing a security deposit for issuance to the Legal Affairs Bureau in an amount equivalent to half or more of the unused balance of prepaid instrument methods as of March 31 and September 30. In addition, PayPay Points and PayPay Bonus Lite, which are granted through campaigns and promotions when using PayPay, can be used for partner services and in transactions at merchants in addition to PayPay Money and PayPay Money Lite. However, PayPay Bonus and PayPay Bonus Lite cannot be sent or transferred between PayPay users or be cashed out. PayPay Bonus Lite has an expiration date, after which it will no longer be valid. PayPay Gift Voucher is a type of electronic money issued by PayPay, which can be used to make payments for affiliated services and merchants designated by the PayPay Gift Voucher. However, it cannot be transferred to other users or cashed out. PayPay Gift Vouchers are valid for six months after issuance, after which they will no longer be valid.

PayPay also strives to create a safe and secure environment for users. If an unexpected payment is made by a third party using a PayPay account, or if a request to settle a payment suddenly arrives from PayPay to a user that does not have a PayPay account, there is a scheme that ensures compensation for the damages suffered (the difference will be provided as compensation if compensation is also provided by a third party), given that the prescribed conditions are met. Please see “Applying for compensation” for details.

Overview of PayPay Insurance Service Corporation

Overview of Z Holdings Corporation

Overview of Z Financial Corporation

Overview of PayPay Corporation

Overview of Aiaru syougakutankihoken Corporation

*Company names, trade names, and products/services in this press release are registered trademarks or trademarks of their respective companies.