Integrated Annual Report 2024(Online Ver.)
Wellbeing
Creating a one-of-a-kind customer experience to help as many customers as possible live healthy and fulfilling lives
CEO of Domestic Life Insurance Business
As a health support company, Sompo Himawari Life aims to support our customers in living fulfilling lives and realizing their dreams in order to create a society where people can live their lives in their own way. One product we offer that is oriented towards this vision is Insurhealth®, which combines a traditional insurance function with a healthcare function. Since its launch in 2018, cumulative sales of Insurhealth® have exceeded 1.6 million (as of the end of FY2023), with positive and supportive feedback from a significant number of customers. I also feel we are making progress in supporting our customers’ health, as we are beginning to see results from our health support efforts, such as the fact that the hospitalization rate is reduced for customers who successfully complete our “Get☆Healthy Challenge!” program compared with those who do not.
Through our insurance products and healthcare services, we have been connecting with customers through data and digital means, providing health awareness and supporting behavior change. We aim to take advantage of this kind of data and digital technology to further strengthen our communication activities to support health and improve the value provided by our insurance products and healthcare services. Going forward, all of our executives and employees will work together as a health support company to create a one-of-a-kind customer experience supporting the health of our customers in order to help as many customers as possible live healthy and fulfilling lives.
Overview of the business strategy in the new MTMP
*1 IFRS profit basis *2 Reflects a decrease in capital allocated by Sompo Holdings (required capital) due to a reduction in interest rate risk
*3 Annualized premium from new business +¥12.0 bn. (Increase during the previous MTMP period +¥13.5 bn.)
*4 New business value according to IFRS17
*5 Value that may significantly increase future profits *6 No. of customers who use the app and registered medical checkup data
We will work to achieve the financial and non-financial targets in the Mid-Term Management Plan under the banner of Customer-centered, increase the number of Himawari clients/users, and help them get healthier.” Insurhealth® and health support CX are the key drivers to achieve this goal. To achieve the financial targets we have set, we plan to boost sales of new Insurhealth® policies by 1.4 times by reviewing our sales framework to position the proposal of insurance products and the proposal of health support services equally and then making integrated proposals (trade on sales). Furthermore, through our health support CX initiative, which involves communication activities to help customers experience better health, we aim to help a significant number of Himawari clients/users achieve better health by supporting their behavior changes toward a healthier lifestyle. Through these initiatives to promote the health of Himawari clients/users, we will get the benefit and effect that healthier behavior can bring.
Key initiatives in the new MTMP
1Establish trade on sales
We will work to connect with customers through health who could not previously be reached through insurance alone by positioning the proposal of insurance products and health support services equally and then making integrated proposals, which will help us further increase the number of Himawari clients/users as we connect with customers, strengthen our relationship with them, and establish trade on sales and sales unique to a health support company dedicated to improving health.
*1 The back office promotes health at customer touchpoints *2 Communication activities by sales representatives and the Headquarters as one to promote customers’ health
*3 No. of health actions taken by Himawari clients/users *4 Gain trust by meeting society’s expectations as a health support company, not just complying with laws and regulations
2Evolve health promotion
We will connect with our customers using MY Himawari as a core tool and encourage behavioral changes starting from our administrative and customer service functions (health support back office operations), thereby making communication that encourages customers to become healthier (health support CX) our unique strength.
3Cost structure reform
We will review all operations and curb the increase in fixed costs associated with rising logistics costs, rising prices, and the increased administrative workload due to the increase in policies. We will also reevaluate legacy investments and reallocate investments to priority areas with the goal of implementing the new MTMP’s goal of increasing the number of Himawari clients/users and helping them get healthier.
Two capabilities accelerating initiatives in the new MTMP
(1) Hands-on capabilities (human resources)
The capability of on-site employees, who are close to the customer, to pool their wisdom as diverse individuals (DEI), set their own tasks, and improve and evolve through teamwork in the workplace and across the company (co-creation between organization and individuals).
(2) Data and digital capabilities
As we collect, analyze, and utilize customer data and external data through our digital initiatives, these data and digital capabilities will drive increases in the number of Himawari clients/users and the accuracy with which we make them healthier and enhance the value of Insurhealth®. Leveraging this accumulated data will make it possible to develop our own unique communication activities, products, and services, establishing a one-of-a-kind advantage.
