Initiatives to boost intellectual capital
Initiatives for leveraging cutting-edge technologies
Since the establishment of the Digital Strategy Planning Department in April 2016, we have been working on transforming existing businesses and creating new businesses by gathering information on cutting-edge technologies and building networks with leading local companies, etc., with the aim of achieving digital transformation (DX) for the entire Sompo Group under the Sompo Digital Lab’s three-base structure in Tokyo, Silicon Valley, and Tel Aviv.
We have been working on incorporating DX into the foundation of our business strategy, marked by our agreement to launch the Real Data Platform for Security, Health and Wellbeing with US-based big data analysis software platform operator Palantir Technologies Inc. in June 2020, followed by our business alliance with ABEJA, which has extensive experience in helping customers implement DX solutions in society, in April 2021.
In addition, we are actively bringing on specialized talent, building a structure of directors and executives consisting of three executives with Koichi Narasaki as Group CDO, followed by Albert Chu as Group Co-CDO, and Hiroshi Omata as Group CDMO. Furthermore, to achieve the goal of “changing people, changing work, and changing the company,” within the Sompo Group, we will define the talent needed to promote DX by tier and establish a training system suitable for each tier to effectively develop digital talent and achieve both DX in existing businesses and the creation of new digital businesses.
| Talent needed to promote DX |
| 1. DX Specialists |
Role: Highly specialized and skilled talent that can turn plans into reality.
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| 2. DX Planning Personnel |
| Role: Talent that creates the “plans” for digital initiatives |
| 3. DX Support Personnel |
| Role: Talent that “uses” digital technologies in their work |
- ＳＯＭＰＯ Digital Lab Tokyo : Acts as a control tower for promoting innovation in the Company and supports R&D in each of the Sompo Group’s businesses.
- ＳＯＭＰＯ Digital Lab Silicon Valley : We are gathering information on the latest digital technologies and building networks with leading local companies.
- ＳＯＭＰＯ Digital Lab Tel Aviv : We are gathering information on cutting-edge technologies and building networks, including finding partners to support our customers in areas such as cyber security, healthcare, and mobility.
Creating innovation through active investment in digital technology
We are proactively conducting PoC (Proof of Concept) experiments and trials related to digital technology, and to date, 55 of 322 PoCs (14 of which are in production development) have been commercialized or turned into actual services at Sompo Group companies.
As for new businesses, we launched an online BtoB auction business in September 2020.
In addition, we are working on rolling out AI to respond quickly and satisfactorily to a variety of inquiries, such as with the introduction of AI speech recognition systems to the claims service offices of Sompo Japan Insurance Inc. We are also introducing services geared at improving operational efficiency, including for automating insurance underwriting, such as the Osiete SOMPO! system, which answers questions sent to the back office from sales branches.
Large amounts of high-quality real data generated and accumulated from a diverse business portfolio
For the Sompo Group, which has a diverse business portfolio, the large amount of real data with clear sources generated and accumulated through each business is one of the most important forms of intellectual capital that only the Sompo Group holds. For example, at Sompo Care, which is engaged in the nursing care business, about 20,000 employees provide a wide range of nursing care services to about 80,000 users, and the nursing care facilities produce a variety of information on a daily basis, including care plans, vital data, food intake, and employee attendance. Sompo Care is striving to appropriately collect and manage this large volume of data on approximately 100,000 people through the use of digital devices and other means, and is building a system to improve service quality and operational productivity through analysis and utilization based on advanced digital technology. For example, we have installed sleep sensors in the beds in the rooms of our facilities and have started collecting data on the waking and sleeping, breathing, and heart rate of residents, which we were previously unable to measure. By utilizing the collected data, we are working to identify any changes in physical condition early on. Similarly, Sompo Japan Insurance Inc., which operates the Domestic P&C Insurance business, is working to leverage the large amount of real data on accidents and disasters that it has accumulated through the provision of approximately 20 million insurance policies as valuable intellectual capital.
Started sales of “Nyuin Passport,” a medical insurance policy that covers actual expenses
Sompo Japan Insurance Inc. has been selling the “Nyuin Passport (Healthy Life Support Insurance),” a medical insurance policy that covers actual expenses and pays claims in as little as 30 minutes, since June 2021.
Based on a thorough analysis of customer needs related to hospitalization, this product not only fully compensates for actual medical expenses for unforeseen hospitalizations in the future, but also offers unique coverage features such as hospitalization preparation insurance benefits that can be received prior to hospitalization, as well as the “Choose your level of hospitalization support” offering aimed at alleviating the burden on the hospitalized person and the family taking care of the patient. In addition to being able to complete the enrollment procedure in about five minutes by gaining access through a QR code, etc., the insurance claim procedure can be completed in as little as 30 minutes and within 24 hours by taking and sending a picture of the receipt issued by the health facility with a smartphone.
Sompo Japan Insurance Inc. will continue its efforts to provide new insurance services utilizing InsurTech (Insurance + Technology).
