The Sompo Group collaborates with partners such as agencies, corporations, local governments, universities, research institutions, NPOs, and NGOs to provide a variety of solutions to meet customer needs. We are also working toward fulfilling the SOMPO’s Purpose by strengthening our brand through proactive communication.
Palantir, Tier IV, One Concern,
National Institute of Advanced Industrial Science and Technology (AIST), Keio University Institute for Advanced Biosciences,
Number of partnered
(as of February 28,
Number of partnered
NPOs and NGOs
(as of March 31,
Number of Davos
*1 Simple aggregate of the bases of Sompo Japan Insurance Inc. and Sompo Himawari Life Insurance Inc.
*2 Number of commissioned agents of Sompo Japan Insurance Inc. and Sompo Himawari Life Insurance Inc.
*3 Based on a survey by Interbrand Japan, Inc.
Social and relationship capital initiatives
Business alliance with Palantir Technologies Inc. and Palantir Technologies Japan for the utilization of real data
To provide new solutions by utilizing the large amount of high-quality real data held by the Sompo Group, we decided to form a business alliance consisting of three companies: Sompo Holdings, Palantir Technologies Inc. (hereinafter “Palantir”), and Palantir Technologies Japan K.K., which was established last year as a joint venture with Palantir Technologies Inc. Palantir is comprised of the world’s best data analysis professionals, and its founders have a philosophy that “superior technology should be used to make the world and people happy.” The Sompo Group shares this philosophy and is convinced that it is necessary to work hand in hand with partners like Palantir to create new value to further the growth of the Group. By combining Palantir’s technology with the Sompo Group’s valuable real data, we will develop a Real Data Platform (RDP) to provide new solutions and further refine the Group’s problem-solving capabilities.
Collaborating with One Concern and Weathernews
Flood damage prediction system
With the recent shift to a new normal climate, characterized by frequent major natural disasters, we believe that the Sompo Group has a responsibility to work on solving issues that will help create a disaster-resilient society. In addition to the traditional role of P&C insurance, which is to provide financial coverage after a disaster has occurred, we would like to take a more proactive approach to disaster preparedness to prevent and mitigate disasters and to help ensure a quick recovery after a disaster occurs. Furthermore, we would like to provide new services to our customers by utilizing technology, namely through AI and data. Sompo Japan Insurance has formed a business alliance with Silicon Valley-based disaster prevention start-up company One Concern, Inc. and Weathernews Inc. to jointly develop an AI-based flood and earthquake damage prediction system to contribute to the improvement of regional disaster preparedness. This system utilizes AI and a variety of data related to local disaster prevention, including data on weather and buildings, to enable damage prediction and real-time tracking of damage before, during, and after floods and earthquakes by block (parcel). Following verification conducted in Kumamoto City from March 2019, we aim to develop a disaster prevention and mitigation system unique to Japan.
In cooperation with local governments, we will strengthen our efforts to help create disaster-resilient communities by using this system.
Project to create new ways of nursing care through the coexistence of humans and technology
We established the Future Care Lab in Japan in February 2019 as a place to demonstrate, experiment, and develop various technologies aimed at shrinking the supply-demand gap of nursing care personnel by increasing productivity through the use of digital technologies and ICT. The lab has conducted joint research and development that combines technologies from startup companies, major manufacturers, and research institutions with the know-how of the Sompo Group, and has evaluated and verified over 350 technologies since its establishment (as of the end of fiscal 2020). In the verification process, the lab not only evaluates the performance, but also the safety, quality of care, and workload reduction of nursing care personnel. As a result, 10 technologies have been implemented in the Sompo Group’s nursing care fascilities as of the end of fiscal 2020.
In addition, in fiscal 2020, the company was selected as a Living Lab in the Ministry of Health, Labour and Welfare’s Living Platform Creation Project, and is working to contribute to the development of society by supporting companies that wish to evaluate nursing care robot products under development and verify them in nursing care fascilities, as well as planning and implementing pitch contests for start-up companies.
Supporting startups through investment in Japan’s first ESG-focused venture capital fund
In May 2021, we invested in MPower Partners Fund L.P. (hereinafter “MPower”), the first ESG (Environmental, Social and Governance) focused venture capital fund in Japan. The fund aims to support entrepreneurs aiming to solve social issues with the power of technology and promote sustainable growth by integrating ESG into their strategies. The key investment areas are the healthcare and wellness, fintech, next-generation workstyle and education, next-generation consumers, and environment and sustainability domains.
Through our investment in the fund, we will contribute to the sound development of financial markets and society as a whole by supporting startups with growth potential to achieve sustainable growth by implementing ESG into society. In addition, we will accelerate the Sompo Group’s SDGs in Business Management to create both social and economic value through future-oriented dialogue while actively engaging with the stakeholders participating in the fund.
Note: MPower’s investment team members are as follows
Kathy Matsui was previously Vice Chair of Goldman Sachs Japan and Chief Japan Equity Strategist.
Yumiko Murakami was previously head of the Organization for Economic Cooperation and Development (OECD) Tokyo Center. She has served as a member of many councils, including those of the Cabinet Office, Ministry of Economy, Trade and Industry, and Ministry of Foreign Affairs.
Miwa Seki worked in investment banking and equity capital markets for Morgan Stanley before moving to Clay Finlay, an asset management company, as head of their Japan office.
Eriko Suzuki launched the Japan business of a US drone startup and has been involved in venture capital at Mistletoe Japan, Inc. and Fresco Capital.
Agreement with the National Institute of Advanced Industrial Science and Technology (AIST) on comprehensive mutual cooperation to solve social issues
Sompo Holdings has concluded an agreement on comprehensive mutual cooperation with the National Institute of Advanced Industrial Science and Technology (hereinafter “AIST”), one of the largest research institutes in Japan, in order to solve social issues such as the declining birthrate and aging population and the challenges associated with the new normal by leveraging expertise in our own respective fields. The purpose of this agreement is to contribute to the growth of the Japanese economy through the effective promotion of joint research and the social implementation of its results.
We provide the business model and the data we possess, and AIST scientifically analyzes and verifies their value. In addition, both parties aim to build a platform for creating new customer value and solutions by forming an ecosystem involving the national government, local governments, and businesses.
The first step will be to develop and standardize methods for assessing nursing care quality, and to develop methods for efficiently grasping the actual state of the nursing care process, with the aim of contributing to solving the problems of our super-aging society, and eventually to disseminate this to the world as a security, health, and wellbeing solution coming from Japan.
We will continue to discuss and add to the agenda of social issues we face, domains of collaboration, and specific research as needed.
Collaborating with NPOs and NGOs to address global environmental issues
In collaboration with local environmental organizations, NPO support centers, and the Japan NPO Center, Sompo Japan Insurance has been carrying out the SAVE JAPAN Project, a nationwide annual biodiversity conservation activity involving public participation. By the end of fiscal 2020, we have held approximately 870 events with over 46,000 participants, using the cost savings gained from customers selecting web-based policy clauses and web-based insurance policy certificates when signing their contract and opting for recycled parts for repairs in the event of an automobile accident as the source of funds for our activities.
The Sompo Group supports the CSO Learning Scholarship Program implemented by the SOMPO Environment Foundation, which provides internship experiences at CSOs (Civil Society Organizations: a term that describes civil society organizations, including NPOs and NGOs) in the environmental field for univerlsity and graduate students. A total of 1,167 students have completed this program as of the end of fiscal 2020, and we launched a similar program in Jakarta, Indonesia, in February 2019.
SAVE JAPAN Project
CSO Learning Scholarship Program
Kick-off ceremony for the second term in Jakarta, Indonesia