With a range of innovations and economic crises accelerating social change, the Sompo Group has been transforming itself into a corporate entity that grows by helping solve social issues.
The domestic P&C insurance business is developing in step with social trends. In response to the decrease in car ownership in Japan as its population declines and ages, we are facilitating the adoption of autonomous cars and promoting development in the mobility field. For example, we have recently entered the car sharing and private car leasing businesses.
In the overseas insurance business, 2017 saw the Group lay the foundations for global growth by completing its largest-ever M&A, which entailed the acquisition of Endurance (now Sompo International).
Meanwhile, in the domestic life insurance business, Sompo Japan Himawari Life Insurance Co., Ltd., and NIPPONKOA Life Insurance Company, Limited, merged to establish NKSJ Himawari Life Insurance, Inc., in 2011. Responsible for the Group’s domestic life insurance business, the merged company has stepped up the pace of growth by further strengthening management foundations. At the same time, the company is transforming into a health support enterprise that rests on the twin pillars of Insurhealth® and health and productivity management.*
The Group entered the nursing care business in earnest with the acquisitions of the major nursing care provider Watami no Kaigo Co., Ltd., in 2015 and Message Co., Ltd., in 2016. In 2018, the Group integrated its four nursing care operating companies to create Sompo Care Inc. We now offer a comprehensive lineup of nursing care services that cater to the specific needs of customers in their local communities.
In accordance with our digital strategies, we established SOMPO Digital Labs in Tokyo and Silicon Valley in 2016 and in Tel Aviv in 2017. Anticipating the growing importance of big data utilization, the Group established Palantir Technologies Japan K.K. jointly with Palantir Technologies Inc. in 2019. Palantir Japan has already begun to provide many different types of companies and organizations with data solutions.
The Group has also been steadily strengthening its management structure. We introduced a Business Owner system in 2016 and a Group Chief Officer (CxO) system in the following year. Moreover, in 2019 we transitioned from a Company with an Audit & Supervisory Board structure to a Company with Committees structure.
*Registered trademark of the incorporated nonprofit organization Workshop for the Management of Health on Company and Employee