Press Release

Heatstroke Insurance service page:
https://www.paypay-insurance.co.jp/promotion/heatstroke/app/

Z Holdings Corporation (Headquarters: Chiyoda-ku, Tokyo; President and Representative Director, CEO: Takeshi Idezawa; 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 (Headquarters: Chiyoda-ku, Tokyo; President and Representative Director, CEO: Yutaka Hyodo; hereinafter “PayPay Insurance Service”) are pleased to announce that the Heatstroke Insurance has been released today and is available from the PayPay Insurance mini app*1 within the cashless payment service app “PayPay” as of today.

*1. A feature that allows users to easily make reservations, order products, and purchase services provided by PayPay Corporation’s partner companies from within the PayPay app.

This product was the first one in the insurance industry*2 specifically designed for heatstroke, and was offered from April to October last year. Medical expenses are paid for when a user who purchased this policy suffers from symptoms of heatstroke due to sun or heat exposure during the period of insurance and receives IV therapy from a doctor at a hospital or other medical institutions. 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 choose between a “monthly” or a “custom period” type. The monthly type costs 200 yen per month (190 yen if “repeat discount*3” is applied), and the custom period type, where users can choose a coverage period starting from one day, can be purchased for as little as 100 yen per day. In addition, if users apply by 9 a.m., the coverage period will begin at 10 a.m. on the same day. In addition to applying for oneself, it is also possible to apply for all family members at once.

In recent years, the number of heatstroke patients has been increasing together with the number of days with temperatures exceeding 35 degrees Celsius. According to an announcement by the Ministry of Internal Affairs and Communications*4, the total number of people in Japan transported by emergency medical services due to heatstroke from May to September last year was 71,029, the third highest number since recording such data began in 2008. In addition, there were 23,152 more cases of emergency transport due to heatstroke compared to the previous year.
According to the Japan Meteorological Agency*5, temperatures are expected to be average or above average in northern, eastern, and western Japan this summer (June through August), and the risk of heatstroke may be high again this year. Therefore, PayPay Insurance Service will again offer Heatstroke Insurance to help users prepare for such incidents. In addition, a “repeat discount” will be available to last year’s policyholders, and eligible users will receive a ¥10 discount when they choose the monthly type.

The insurance policy was well received by many users last year, with the number of purchases exceeding 60,000. Approximately half of these were for the applicant’s children, spouse, parents, or other family members. There were especially many instances of purchasing the insurance policy for children’s sport activities or for elderly family members living far away.

PayPay Insurance mini app has been enjoyed by many users since its launch one year ago, with policies purchased a total of more than 1.2 million times*6. 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.

*2. Based on research by Aiaru syougakutankihoken Corporation (as of April 2022)

*3. The “repeat discount” is for users who have purchased Heatstroke Insurance last year, regardless of the type or period. If the policy was cancelled prior to the end of coverage period, the discount will not be applied. The “repeat discount” is applicable only when purchasing one of the three monthly type plans: Easy Plan, Basic Plan, or Safety Plan. If a user applies for Heatstroke Insurance with the same PayPay account as last year, the discount will be applied automatically.

*4. Ministry of Internal Affairs and Communications website, “Status of Emergency Medical Transport Due to Heatstroke in 2022 (May to September)”
https://www.fdma.go.jp/disaster/heatstroke/items/r4/heatstroke_geppou_202205-09.pdf

*5. Japan Meteorological Agency, “Nationwide Summer Weather Forecast (Jun-Aug)”
https://www.data.jma.go.jp/cpd/longfcst/kaisetsu/?region=010000&term=P6M

*6. As of January 23, 2023.

【Heatstroke Insurance Details 】

Coverage period

＜Period of availability＞
Monthly type: April 20 – September 30
Custom period type: April 20 – October 31

＜Coverage period＞
Monthly type available for a range of one to seven months.
Custom period type available for a range of one to seven days.
*Coverage period for the monthly type can begin on the day following the date of application.
*For the custom period type, if an application is made by 9 a.m., the coverage period can begin at 10 a.m. on the same day.

Coverage (benefit payments)

＜Medical expenses＞
The insurance benefit will be paid if the insured person suffers from symptoms of heatstroke due to sun or heat exposure during the period of insurance and receives IV therapy at a hospital, based on the decision of the doctor.

＜Hospitalization expenses＞
The insurance benefit will be paid if the insured person suffers from symptoms of heatstroke due to sun or heat exposure during the period of insurance and is hospitalized for two or more consecutive days (one night and two days) for treatment.

Plans

There are three plans available for the monthly type: Easy Plan, Basic Plan, and Safety Plan. There is one plan for the custom period type (the premium is the same as that of the monthly Safety Plan). A broad variety of insurance products are offered to match the needs of users.

＜Monthly type＞

	Easy Plan	Basic Plan	Safety plan
Medical expenses insurance	5,000 yen	7,000 yen	10,000 yen
Inpatient insurance	10,000 yen	30,000 yen	30,000 yen
Monthly premium	200 yen	220 yen	240 yen

*When a “repeat discount” is applied, monthly premiums will be 190 yen for the Easy Plan, 210 yen for the Basic Plan, and 230 yen for the Safety Plan.

＜Custom period type＞

Period of insurance	1 day	2 days	3 days	4 days	5 days	6 days	7 days
Medical expenses insurance	10,000 yen
Inpatient insurance	30,000 yen
Premium	100 yen	110 yen	120 yen	130 yen	140 yen	160 yen	170 yen

*The insurance payout will be deposited into the designated bank account.

Other characteristics

＜Easy to apply＞
The purchase and payment of premiums can be easily made through “PayPay.” If the user’s identity is verified on “PayPay,” they do not need to enter their name or other information to apply. Premiums can be paid with PayPay Balance including PayPay Points.

＜Easy to file a claim＞
Users can file a claim by uploading receipts and medical statements through “PayPay” app.
The insurance payout will be sent 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.

See the following page For more information on Heatstroke Insurance:
https://www.paypay-insurance.co.jp/promotion/heatstroke/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.