Tokio Marine’s local arm has introduced an online consumer travel insurance brand to capitalise on Australians visiting Japan before the 2020 Olympic Games there.

Called World2Cover, it marks the commercially focused insurer’s first entry into the Australian consumer market.

“The Australian team, Tokio Marine Management Australasia… is leading the worldwide charge, being the first office of the firm outside Japan to offer direct consumer travel insurance online,” the group says in a statement.

Tokio Marine Management Australasia COO and executive director Claudio Saita told insuranceNEWS.com.au Australia has a “very healthy travel insurance market”, with more cover being sold online.

Last year about 300,000 Australians visited Japan, which is a popular and fast-growing destination.

“As an established administrator in the Australian commercial insurance sector since 1963, this is a key business growth opportunity,” Mr Saita said.

World2Cover offers global coverage, winter sports options, family benefits and a simple claims process. It says it offers top benefits in 23 of areas of cover.

Last year outbound travel insurance in Australia was worth about $772 million, with an annual growth projection of 1.5% to 2019, Mr Saita says.

Tokio Marine is a gold sponsor of the 2020 Tokyo Olympics.