Healthcare Business

The value provided by healthcare business is geared towards achieving SOMPO’s Purpose


Our healthcare business was newly added to the core business in fiscal 2021. In addition to providing “value after something happens” as typified by the insurance and nursing care businesses, this new business will provide “solutions to help people lead healthy and happy lives” before anything happens. In this way, we will fulfill SOMPO’s Purpose of realizing a society in which every person can live a healthy, prosperous and happy life in one’s own way with “A Theme Park for Security, Health & Wellbeing.”
Through these efforts, we will help build sustainable public medical and long-term care insurance system by extending healthy life expectancy and improving the productivity and quality of medical services.

Target Profile

  • We will target sustainable growth of the two existing Group operating companies: SOMPO Health Support Inc. and Wellness Communications Corporation. SOMPO Health Support promotes mental and physical health by combining its long track record in the healthcare business with the latest knowledge and digital technologies to offer products and services that can be highly beneficial to health. Wellness Communications provides companies and health insurance associations with checkup outsourcing services and health information management systems.
  • In addition, we will help build a sustainable public medical and long-term care insurance system by extending healthy life expectancy and improving the productivity and quality of medical services. We aim to create new healthcare-related businesses that will become a pillar of the Group’s operations and play a central role in its transformation into “A Theme Park for Security, Health & Wellbeing.”

Strengths, Opportunities and Risks

Strengths
  • Customer base of individuals, corporations, and organizations built through insurance business and two existing healthcare companies
  • Solutions, know-how, data, human resources, etc. of the two existing healthcare companies
  • In-house infrastructure of businesses related to healthcare, such as nursing care, life insurance, and digital business
Opportunities
  • Domestic social issues stemming rapid decline of productive workforce (widening supply–demand gap for medical and long-term care, decline in the working-age population, tightening of financial resources for the social security system, etc.
  • Policy issues and investments at various levels based on the above (diverse employment and social participation, extension of healthy life expectancy, reform of medical and welfare services)
  • Social expectations of the non-public healthcare industry (service industry group) to support public insurance
Risks
  • Risk of leakage of personal information (including sensitive information) about customers of two existing companies due to cyber attacks, etc.
  • Investment-related risk in new business development; risk of reduced competitive advantage due to standardization of new services

New Mid-Term Management Plan

Vision of the new MTMP

By establishing a new business foundation that can grow into a pillar of the Group’s operations and achieving growth of the two existing healthcare-related companies, we are committed to creating a future society for healthy and happy lives while actively utilizing products and services from Japan and overseas. As part of the value we provide to society, we aim to achieve the following.

  • Provide healthy and happy new lifestyles for both “support givers” and the “support recipients” in the public security system
  • Provide solutions that contribute to people’s health, both directly and indirectly, such as disease prevention and improvement in the quality and efficiency of medical care
  • Create a Real Data Platform (RDP) in the healthcare domain that contributes to these goals

Specific strategies in the new MTMP

 1  Develop businesses in the prevention, pre-disease, diagnosis, and treatment fields

In order to extend healthy life expectancy and support medical productivity and quality improvement, we will develop businesses in a range of fields, from prevention and pre-disease to diagnosis and treatment. Utilizing both real and digital customer contact points, we will also provide new solutions that contribute to improved health and prevention of diseases and serious illnesses. In these ways, we will provide new lifestyles of health and happiness.

 2  Build RDP as a source of value creation

By providing value through products, services, and solutions in healthcare-related businesses, we will acquire and utilize real data for visualization on digital devices. Based on such data, we aim to build an RDP as a source for delivering new value to more people, including by promoting awareness and behavioral changes.


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