Integrated Annual Report 2024(Online Ver.)
Domestic P&C Insurance Business
Discussion with Directors | Culture Change to Regain Trust (Summary)
Shinichi Hara
Group CHRO,
Sompo Holdings, Inc.
Isao Endo
Independent Director Member of the Nomination Committee and the Compensation Committee,
Sompo Holdings, Inc.
Kayoko Sakai
Sompo Japan Insurance Inc.
CCuO and CHRO (in charge of Culture Change and Human Resource)
Sakai The root cause of our series of problems was our failure to take the basic action of “thinking and acting from the Customer’s point of view,” and to update our own common sense in the face of changes in society.
Endo I consider that one of the reasons for this is that although management had indicated a direction to take on new business challenges that extended beyond traditional insurance, there was insufficient communication to establish a common understanding of this direction.
This may have created a gap between Sompo Holdings and each operating company, and between management and employees.
Hara To address the challenge, I concluded that we need to rephrase our purpose and firmly established three “Sompo’s values” as the basis for all executives and employees for decision-making and action: “Integrity,” “Self-motivation,” and “Diversity.”
“Integrity” means doing what is right for society. “Self-motivation” is to think independently without being bound by precedent or influence. “Diversity” is most of all about valuing differing opinions and respecting them, and changing our culture so employees can say what they think and are listened to.
These “Sompo’s Values” are being incorporated into our human resource systems, such as in evaluation and promotion criteria, starting with our executives of Sompo Holdings and Sompo Japan Insurance whom we have now located together on the same floor to promote communication.
Endo Our executives are also working energetically to engage employees in dialogues to change mindsets and behaviors from the bottom up, not just from the top down.
Sakai As management change their behavior, starting with listening to others, then engagement follows. For this to be successful, we have to learn and gain both experience and expertise to meet changes in society. Diversity, Equity & Inclusion (DEI) is the foundation for this.
Endo More horizontal connections will help this change, and we need to invest more in these communications as well as education.
Sakai Sompo Japan Insurance is accelerating communication and promoting human resource development through programs such as our “Remote Job Challenge Program” and “Mentoring Program” to give employees in local offices experience of diverse jobs and mindsets, and employee bottom-up activities such as the Employee Resource Group (ERG). We are also revamping management training to encourage support for initiatives by employees.
Hara From this fiscal year, we are investing 30 billion yen in talent development to develop such experience and interaction. Together with CxOs from Group and each business, we are also developing our human resource strategies in each key field in a groundbreaking initiative that gives employees opportunities to hone their expertise and advance their careers within the Group.
Sakai In order to grow globally, we need to invest enhance expertise in areas such as risk management and underwriting operations, and improve productivity by centralizing back-office operations and utilizing AI.
Endo With it, if we recognize our strengths and start thinking about what we can do to become No. 1, the atmosphere of the entire organization will improve.
Hara That is why “Self-motivation” among our “Sompo’s values” is important. As employees think about what they can contribute, and work hard together to create value, it becomes expertise. That’s what we need to invest in as a group.
Endo From the company’s point of view, investing in employees to realize their own value will create an equal and flat relationship of mutual interests and trust, as well as respect.
Hara Yes. The challenge is how employees can create value and contribute to the organization and society on their own initiative. The driving force behind this is “My Purpose,” which is born from the motivation of each and every employee. It is their motivation that guides how they want to provide value to society and the company, and how they want to contribute to it.
By sharing that “MY Purpose” with each other, we embrace each other’s values. It leads to interaction between colleagues and the opportunity to build Diversity, Equity & Inclusion (DEI), through respect for others.
It all starts with the awareness and actions of each individual, and I believe this will lead to the transformation of the corporate culture.
