Business
Domestic P&C Insurance Business
The social value created by the domestic P&C insurance business can be found in its ability to protect people from the risks of society and other people found in all eras, and in its contribution to the realization of a sustainable society.
Based on a foundation of employee happiness and job satisfaction, we will contribute to society by creating valuable products and services for our customers in the insurance business and beyond in the realms of security, health, and wellbeing.
The Aim of the Mid-Term Management Plan
In the domestic P&C insurance business, we aim to create new customer value and new businesses that contribute to solving social issues, along with the goal of monetizing these businesses. In addition, we will promote reform of our corporate culture – the bedrock on which our efforts are built – and foster an organizational culture in which each and every one of our diverse range of employees can demonstrate their own creativity and originality, can make value judgements from the customer’s point of view, and are able to make decisions and act quickly.
| Vision | Deliver a secure tomorrow full of happiness and life for all people, communities, and society as a whole. |
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| Mission | Based on a foundation of employee happiness and job satisfaction, we will contribute to society by creating valuable products and services for our customers in the insurance business and beyond in the realms of security, health, and wellbeing. |
| Brand Slogan | Innovation for Wellbeing |
| Realize “A Theme Park for Security, Health & Wellbeing” | SOMPO’s Purpose With “A Theme Park for Security, Health and Wellbeing,” create a society in which every person can live a healthy, prosperous and happy life in one’s own way. |
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Existing business area strategies aimed at co-creation
In the domestic P&C insurance business, we aim to build and maintain a business structure that grows stably and sustainably through co-creation with our customers and partner companies, even as the business environment changes with the increasing frequency and severity of natural disasters, and the decrease in vehicle ownership.
In fiscal 2021, we began selling new products born out of the wishes of our customers such as the Hospitalization Passport and UGOKU (moving insurance), and after introducing efforts to reform our profit structure by strengthening our underwriting capabilities using AI developed by Palantir Technologies Japan, we were able to exceed our initially-planned goals with an operational adjusted profit of 157.4 billion yen. In fiscal 2022, we will accelerate our efforts to improve profitability by introducing AI functionality at sales offices, harnessing AI when responding to accidents to increase productivity, and more.
*Sompo Japan only. Excluding CALI and household earthquake insurance.
Strategies for New Value Creation
In order to create new value, we will promote concrete initiatives to expand mid- to long-term profitability in areas that are highly compatible with the domestic P&C insurance business such as mobility, disaster prevention & mitigation, autonomous driving, and decarbonization.
We developed Japan’s first insurance for providers of autonomous driving systems in collaboration with Tier IV, Inc., Aisan Technology Co., Ltd., and the University of Tokyo in 2022 February.
We will continue to work hard to create new value by developing solutions for decarbonization and services aimed at disaster prevention and mitigation.
Strategies to strengthen the foundation needed for cultural change
Based on a foundation of employee happiness and job satisfaction, Sompo Japan aims to contribute to society by creating valuable products and services for our customers in the insurance business and beyond in the realms of security, health, and wellbeing.
Efforts we introduced in fiscal 2021 to improve employee job satisfaction include SOMPO Quest, an in-house side job system thought up by employees, and the Remote Challenge Course, a system based on the premise of remote working which allows employees to challenge themselves to apply to the posts they wish to fill without relocating.
We will continue to promote personnel development that leads to innovative ways of creating new value for customers, and will use work style reform to become a company in which every employee is highly motivated and finds their work satisfying.
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