Digital Strategy

Koichi Narasaki
Group CDO
Managing Executive Officer

If new technologies threaten to destroy our business, it would be better to destroy and then rebuild it ourselves. This belief drives us to promote digital innovation across the Group. Accordingly, we are pursuing Group-wide innovation by leveraging the power of digital technologies—one of the Group’s core competencies—with the aim of creating new customer experiences.

Four Important Themes for Utilizing Digital Technologies

In our digital strategy, we aim to intensively and dynamically utilize digital technologies, which are evolving at an exponential speed, in Group operations. The evolution of technologies could bring about changes dramatically not only in the business processes of insurance companies but also in customers, business models, and the environment. We have set four goals for our digital strategy.

1. Business Efficiency in All Segments

Utilize artificial intelligence (AI) and other new technologies to raise productivity and efficiency

2. Enhancement of Customer Contacts

Develop products and services that enhance customer experiences by utilizing the Internet of Things (IoT)

3. Marketing for Digital Native Generation

Develop products and services that will be chosen by the so-called digital natives

4. New Business Models Utilizing Digital Technologies

Create new business models based on digital technologies

Initiative Results

The Sompo Holdings Group is actively conducting verification tests and proof-of-concept trials regarding digital technologies.
These efforts enabled us to implement the “AI Voice Recognition System” at the insurance service bases of Sompo Japan Nipponkoa in fiscal 2017. In addition, we have introduced AI technologies for providing swift and highly satisfying responses to various inquiries, such as the Oshiete! SOMPO service that responds to questions from sales branches to back-office divisions. We are also introducing insurance underwriting automation and other services that contribute to business efficiency. At the same time, we are providing various products and services that create more valuable customer experiences through the use of Internet of Things (IoT) devices.
One such offering would be DRIVING! Living with a Car, a service that utilizes driving monitors equipped with functions supporting safe driving. Of the 42 proof-of-concept trials we have undertaken so far, 10 have been transformed into actual services at Group companies, two of which are currently in the full-fledged development stage. Moreover, we entered into the cybersecurity business in January 2018. We were able to embark on this new journey thanks to the successes of the new business model R&D activities we have advanced thus far.