By promoting the development of new products and services enabled by AI, IoT, and other leading-edge digital technologies, and by preventing and predicting accidents, disasters, and illnesses with digital technologies and data, we aim to create a society that realizes security, health, and wellbeing, thereby ensuring insurance is no longer required.
Four Important Tasks in Digital Technology Utilization
As digital technologies evolve exponentially, the Group is incorporating them into operations in an intensive, transformative manner based on a digital strategy. Given that the evolution of digital technologies is significantly affecting not only the business processes of insurance companies but also their customers, business models, and competitive environments, we are concentrating on the four tasks listed on the right.
| 1. Increase efficiency in all business segments |
Utilize AI and other new technologies to enhance the productivity and efficiency of work previously performed manually |
| 2. Use digital technologies to transform customer touchpoints |
Develop products and services that enhance customer experiences by using IoT and sensors |
| 3. Market to digital natives |
Develop products and services for the young generation familiar with digital technologies |
| 4. Evolve new business models |
Build new business models based on ideas and technologies that break completely with existing business fields |
Initiative Results
We are actively conducting proof-of-concept (PoC) tests regarding digital technologies, and the number of commercial services is increasing every year. In fiscal 2018, we increased work efficiency and the quality of customer services by extending the application of AI in departments that are in contact with customers, such as call centers and claims departments. Further, through the use of AI to automate and advance insurance underwriting, we offered many customers optimal policies more efficiently. Also, we concentrated efforts on using IoT devices and the Internet to provide products and services that enhance customer experiences. Other initiatives included the utilization of LINE and Amazon smart speakers to provide voice recognition-based quotations for overseas travel insurance and the launching of on-demand insurance through an alliance with a Silicon Valley start-up.
