The Power to Predict and Prevent Accidents, Disasters, and Illness
Insurance, by paying a benefit when unexpected events occur, such as accidents, injuries, and illness, provides security.
Going forward, we believe that, through the prevention of these unexpected events and the mitigation of accidents, disasters, and illness, insurance companies can help create a world of security, health, and wellbeing that does not require insurance. Moreover, we feel that these efforts will contribute to the realization of a sustainable society. In preparation for the environmental changes resulting from the spread of COVID-19, the Sompo Group will invest in the latest digital technologies, such as AI, big data, CX agile* development, and design thinking; rigorously economize on the labor costs of existing businesses and increase their sophistication; and develop new digital technology businesses similar to Palantir Technologies Japan K.K. (“Palantir Japan”).
* Agile development that is focused on customer experience
Strengths and Differentiating Features
Aiming to realize digital transformation throughout the Group, SOMPO Digital Labs have been transforming existing businesses while creating new ones since the establishment of the Digital Strategy Planning Department in April 2016. These activities encompass businesses in Japan as well as overseas Group companies and are now conducted under a trilateral structure, which comprises SOMPO Digital Labs in Tokyo, Silicon Valley, and Tel Aviv.
As part of a human resource strategy focused on achieving digital transformation of its businesses, the Group has established two chief digital officer (CDO) positions. Previously, we had one Group CDO, Koichi Narasaki. Through external recruitment, we appointed Hiroshi Omata as Group Co-CDO in April 2020. Under this new structure, we will realize thoroughgoing digital transformation of existing businesses while transitioning toward new businesses enabled by digital technologies.
As well as the domestic P&C insurance and life insurance businesses and the overseas insurance business, the Group is engaged in the nursing care & healthcare business, among others. Through these businesses, we garner huge volumes of real data* on accidents, disasters, and other matters.
We can use this data not only to pay benefits when accidents and illness occur but also to provide solutions that prevent accidents and illness. In this way, we aim to transform our real data into a truly valuable resource.
To this end, in November 2019 we jointly established Palantir Japan with Palantir Technologies Inc. (“Palantir”), which is headquartered in the United States and in 25 countries worldwide has businesses that offer software platforms for big data analysis.
Further, to advance the building of a general-purpose, Real Data Platform for the Group, we established the Data Management Office in the Digital Strategy Planning Department in April 2020. As well as upgrading the Group’s data-related governance and data utilization, the new office will foster data-related personnel in-house.
* “Real data” refers to data that is acquired from various real-life activities.
The Acceleration of Digital Transformation
An Example of Real Data Utilization
Through a business tie-up with Paramount Bed Holdings Co., Ltd., the Company has begun introducing Nemuri SCAN sleep data measurement sensors to all of the approximately 18,000 bedrooms in the serviced residential complexes for senior citizens of Sompo Care Inc. This initiative is a world first.*1
Boasting the greatest number of senior housing units in Japan, *2
Sompo Care will collect large volumes of multifaceted real data 24 hours a day, 365 days a year. The company will use this data to analyze correlations. It will then share findings with major companies in the health and wellness field and offer solutions for the improvement of nursing care; a range of services for the early detection, prevention, and improvement of dementia; and services for the prevention of lifestyle-related ailments.
We will of course collect data in a manner that complies with respective laws and regulations. Moreover, we will encourage understanding of these activities by employing thoughtful approaches that take customers’ feelings into consideration.
Using Palantir software for centralized and continuous data integration and analysis will enable the prediction of nursing care facility residents’ state of health and reduce the workloads of nursing care professionals.
We have already begun a PoC test for the integration of various types of data on residents. This PoC test confirmed that timely detection of residents’ state of health, or changes therein, enables nursing care professionals to respond quickly in accordance with each resident’s status. Our initiative is the first of its kind anywhere in the world. Going forward, we will build a model that not only detects physical changes but also predicts an individual’s state of health.
*1 This is the world’s first initiative for the introduction of sensors to all of a company’s many thousands of bedrooms in serviced residential complexes for senior citizens. (As of May 2020, survey conducted by the Company)
*2 Number of senior housing units: Approximately 25,600 (No. 1 in industry, as of May 2020, survey conducted by the Company) “Senior housing” is a general term that encompasses nursing homes providing long-term care, serviced residential complexes for senior citizens, group homes, and other serviced residences.