The digital business will develop solutions and business models based on Real Data.
Insurance provides peace of mind through the payment of benefits when unexpected events occur, such as accidents and illness. Through the digital transformation of society, however, we aim to prevent these unexpected events and thus can create a world of security, health, and wellbeing that does not require insurance.
Strength
Utilize of real data, the technology and network of strategic partners
As a leading player in insurance and nursing care businesses, our strengths are our ability to obtain vast amounts of real data from 20 million insurance customers and 100,000 nursing care-related data, and our strong partnerships with Palantir, one of the world's leading data analysis technologies, and ABEJA, which has an excellent track record in AI and data analysis.
Global R&D system (Tokyo, Silicon Valley, Tel Aviv)
Since the establishment of the Digital Strategy Department in April 2016, we have been collecting information on cutting-edge technologies and building networks with leading local companies through the Sompo Digital Lab’s three-base structure in Tokyo, Silicon Valley, and Tel Aviv. We are working on transforming existing businesses and creating new businesses to achieve digital transformation (DX) for the entire Sompo Group.
Topics
Building of Real Data Platform (RDP) and development of new solutions
To achieve the SOMPO's purpose of “Creating a Theme Park for Security, Health and Wellbeing of Customers,” Sompo Holdings is building solutions and carting out digital transformation in business fields using the SOMPO Group’s strengths with partners such as Palantir Technologies Inc.
In the nursing care business, we have developed a software solution that delivers high quality and improved productivity, and through in-house utilization and collaboration with external nursing care providers, we have launched "egaku" as a software solution to support Japan's nursing care industry in April 2023, and have begun full-scale business rollout.
We are taking on the challenge of creating an ecosystem (RDP business) that contributes to the sustainability of the nursing care industry.
Establishment of Sompo Light Vortex, Inc, a Subsidiary for Digital Businesses
Sompo Holdings Inc. established SOMPO Light Vortex on July 1, 2021 as an operating company in the digital business. Sompo Holdings has set “new customer value creation” as one of the pillars of its core strategies in its Mid-term Management Plan starting in FY2021, and established SOMPO Light Vortex to commercialize the digital domain and to strengthen the creation of services using digital technology that appeal to customers and to capture new business opportunities. SOMPO Light Vortex aims to provide value to society and customers through the practical application and commercialization of services using digital knowledge and digital elemental technologies, such as through WiTH Health, a healthcare services in collaboration with local governments.
SOMPO Light Vortex website for details.
Launch Online B to B Auction Business - Establishment of SOMPO AUX -
In September 2020, Sompo Holdings Inc. made SOMPO AUX Inc. a group company and has full-fledged entered B to B auction business from September 2020. Sompo Japan Insurance Inc., (Sompo Japan), a subsidiary of SOMPO Holdings, takes in and sells approximately 40,000 vehicles per year that have been involved in accidents as part of its automobile insurance business. SOMPO AUX operates an auction platform to sell these accident vehicles, and challenges the sophistication of sales channels based on data from these auctions. Increasing the ratio of vehicles that are reused as used vehicles or parts can be one of the elements to realize a recycling-oriented society. For Sompo Japan, the sale of these vehicles to the most suitable buyers at a higher price could also lead to improved profits in the automobile insurance business.
Group Companies
SOMPO Digital Lab
SOMPO Digital Lab is an innovation division that pursues evolving digital technologies to promote DX for the SOMPO Group.
Composed of R&D, in-house development, data scientists and others, we aim to provide the experience value of "Security, Health & Wellbeing" utilizing digital technology.
SOMPO Light Vortex provides new products and services utilizing digital technology with the aim of offering new value to customers and the society.
SOMPO AUX provides a platform for reusing industrial products such as used cars and maximizing the value by utilizing digital technology.
