Business

Domestic Life Insurance Business

Creating value that realizes SOMPO’s Purpose in the domestic life insurance business

Life insurance has traditionally played a complementary role to the social security system, but the environment in which we operate has undergone some drastic changes, with declining birthrates, an aging population, and other social issues coming to the fore. We at Sompo Himawari Life Insurance believe that insurance needs to change to include not only conventional risk management partnered with responsive medical care, but also wellness management based in preventative medicine that aims to extend peoples’ lives. To realize SOMPO’s Purpose, we aim to be a “Health Support Enterprise.”

The Aim of the Mid-Term Management Plan

Sompo Himawari Life Insurance aims to build a healthy, happy society for the future, and to do so, we work in our role as a “Health Support Enterprise” to support the healthy lives of each and every citizen. In order to transform into such a company, we are now offering new, innovative value through Insurhealth®, which combines the traditional role of life insurance to prepare for any possibility with day-to-day healthcare support functions. Our aim is to help people live rich lives and achieve their dreams in the coming era of 100-year lifespans.

figure:We are changing the role of life insurance. Because the role played by social security must also change. Realize people’s desire to live long, healthy lives.

figure:Insurance + Healthcare ＝ Insurhealth® — Insurhealth^®: Insurance that improves health

1. Existing business area strategies aimed at co-creation

Our most skilled life insurance representatives are certified as HL Advisors, and they provide highly capable consultations, help support health, and work in a customer-oriented manner. HL Advisors take the lead when working closely with customers, and work with agents and representatives nationwide to expand the customer base and ensure growth through the innovative value of Insurhealth^®, which combines the traditional role of life insurance to prepare for any possibility with day-to-day healthcare support functions. Efforts like these have helped us maintain high customer satisfaction.

2. Strategies for New Value Creation

We believe that DX is the key to accelerating our transformation into a Health Support Enterprise. By increasing our use of new technologies and data from sources inside and outside of the company, we can maximize the value of Insurhealth^® we provide to customers, and can optimize what we offer to each customer to teach them how to live healthy lives. We will continue to expand app and service functionality to achieve this, and increase added value to play a close role in the lives of each and every customer. These various initiatives will bring us more customers who support the company, and will lead to further growth.

3. Strategies to strengthen the foundation needed for cultural change

Creating and sharing My Purpose

We are helping employees find their My Purpose through one-on-one discussions to improve job satisfaction and reason for living. We have also developed a system that allows employees to communicate what they have chosen as My Purpose to others, and to add updates on how they are working to improve themselves. More than 1,600 employees have added their My Purpose to the internal system.

Workplace purpose

In order to help employees visualize the connection between their own personal My Purpose and their workplace purpose, each workplace internally releases a publication called the “Department Navigator” that describes what each department does and aims to achieve. This has increased the effectiveness of the “job challenge system” that allows employees to work in other departments they are interested in.

graph:2021 (Fiscal year) 17,935 (Unit: Submissions) — Appreciative feedback submissions^*1

graph:2021 (Fiscal year) 4.45 (Unit: million people) — Number of customers (Number of valid policies)

figure:Before signing contract 93.0% — Customer satisfaction^*2*3 (Sum of those who responded “satisfied” and “somewhat satisfied.”)

figure:After signing contract 90.9% — Customer satisfaction^*2*3 (Sum of those who responded “satisfied” and “somewhat satisfied.”)

*1 From April to February in target fiscal year *2 Surveyed between April and December 2021 *3 Customer surveys asked respondents to answer on a scale of 11 from 0-10, with 10 being the highest score. A score of 9-10 corresponded to “satisfied,” 7-8 to “somewhat satisfied,” 4-6 “somewhat unsatisfied,” and 0-1 was defined as “unsatisfied.”