ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it has signed a financial and business partnership agreement with MOTER Technologies, Inc. (headquartered in California, USA; Kenji Fujii, CEO; hereinafter "MOTER"), a US-based company developing insurance software utilizing telematics technology^*1, and agreed to purchase new shares issued by the company.

In the US, the world’s largest auto insurance market, the use of risk analysis services and telematics insurance (Usage Based Insurance: UBI) utilizing driving data and driver behavior data has quickly expanded following the popularization of connected cars and advanced driving assist systems. The US auto insurance market is expected to grow by an average of 5% annually from 2024 to 2030, with data-driven insurance products estimated to account for around 35% of the market^*2.

MOTER is an InsurTech^*3 company established in April 2021 as a wholly owned subsidiary of Aioi Nissay Dowa Insurance Co., Ltd. Partnering with major automobile manufacturers, MOTER develops its own scoring models to accurately determine safe driving and accident risks through AI analysis of driving data and onboard camera footage. Using this scoring model, MOTER develops auto insurance offered under automobile manufacturers’ brand names as well as risk management services for fleet management companies, and also provides data analysis services for insurance companies. They have also obtained certification as a Managing General Agent (MGA^*4) to provide insurance incorporating automobile manufacturers' core services in all 50 states^*5, and are expected to further expand this business.

With its strengths in the retail insurance sector in Japan, including HOKEN NO MADOGUCHI GROUP INC., ITOCHU is enhancing its local retail insurance operations through its investment in Thaivivat Insurance PCL., a non-life insurance company in Thailand and Laos.^*6 In May 2025, ITOCHU also invested in Churchill Innovative Holdings LLC, a US-based individual health insurance distribution platform, initiating a full-scale launch into the US insurance market.^*7

ITOCHU is aiming for further growth as the largest Japanese corporate insurance distributor and broker through its recent investment in MOTER, combining MOTER's technology and expertise with its own global network and reinsurance scheme. ITOCHU is also accelerating its business expansion into the next-generation auto insurance market in the US and Asia.

Based on its new management policy, “The Brand-new Deal – Profit opportunities are shifting downstream –,” ITOCHU aims to expand its business domain and earnings platform through collaboration with innovative business partners.

MOTER was established in April 2021 in California, U.S.A., as a wholly owned subsidiary of Aioi Nissay Dowa Insurance Co., Ltd., with the goal of conducting R&D on insurance software rooted in a software-first philosophy. The company is developing next-gen insurance products and services compatible with EVs and autonomous vehicles, leveraging technologies such as edge computing- a distributed computing approach where data is processed and analyzed directly on IoT devices- and computer vision to enable insurance software that can be embedded into in-vehicle devices.