Sustainable Growth by Delivering SOMPO's Purpose
I would like to express my gratitude for your continued patronage and support for SOMPO Group.
SOMPO Group is mainly engaged in the domestic P&C insurance, overseas insurance, domestic life insurance, nursing care & seniors, and digital businesses. Through these businesses, we aim to realize a one of a kind, unique, and forward-looking “Theme Park for Security, Health & Wellbeing” that contributes to society by providing “services of the highest quality possible that contribute to the security, health, and wellbeing of our customers” as set out in the Group Management Philosophy,
The Group's vision of “A Theme Park for Security, Health & Wellbeing” is to make the abstract concepts of security, health, and wellbeing discernible, support the life of “people” who are at the center of society, and appropriately utilize all kinds of advanced technologies, including digital technologies, to address social challenges through business activities and fully support the life and daily lives of customers. In the age of VUCA* characterized by volatility, uncertainty, complexity, and ambiguity, we aim to “contribute to a sustainable society in which every person can live a healthy, prosperous, and happy life in one’s own way” by realizing “A Theme Park for Security, Health & Wellbeing”, which is SOMPO’s Purpose.
To realize “A Theme Park for Security, Health & Wellbeing” and deliver SOMPO’s Purpose, it is necessary for each and every employee who support this to work toward “My Purpose”, be driven by internal motives and a sense of ownership arising from it, and improve productivity, expertise, and creativity. We believe that it is crucial to create a culture that aligns the firm and employees as well as the purpose of the firm and employees for the Group’s sustainable growth.
The Group is also working to make the Group governance structure more advanced and robust to ensure sound business management. Sompo Holdings became a company with committees in June 2019 and put in place strong oversight by the Board comprising mainly of Non-Executive Directors. The three statutory committees, namely the Nomination Committee, Audit Committee, and Compensation Committee are all chaired by Non-Executive Directors, and fair and active discussion is held to strengthen Group governance.
The Business Owner System and Group CxO System is used for business execution under the leadership of the Group CEO and Group COO to facilitate agile and flexible decision-making and business execution as well as clarification of authority and responsibilities. Two committees, namely the Global Executive Committee and Managerial Administrative Committee (MAC) are in place and we aim to establish a highly effective business execution structure that facilitates the Group’s sustainable growth by making maximum use of their functions.
The Group will continue to evolve the roles we play, enhance enterprise value, and make earnest efforts to fulfill the needs of a variety of stakeholders to address various challenges and create a more sustainable society.
I would appreciate your continued support for SOMPO Group.
- VUCA is an abbreviation for Volatility, Uncertainty, Complexity, and Ambiguity.