Corporate Strategy

Mid-term business plan "Transformation ("X") and Challenge to Growth 2023: Most Chosen for Quality and Passion"

The mid-term business plan starting from fiscal 2021 is based on the concept, "Transformation ("X") and Challenge to Growth 2023: Aiming to be the company most chosen for quality and its passion". We aim to realize the Company's Purpose to be there for customers and local communities in their times of need and achieve sustainable growth while contributing to resolving social issues.

The business environment surrounding the insurance industry is changing at a faster pace than ever due to changes in demographics, advances in technologies such as autonomous driving and AI, and longer-term trends such as the intensification and frequent occurrence of natural disasters, as well as further progress in digitalization due to the COVID-19 pandemic. While these changes in the business environment pose a threat, we consider them to be excellent opportunities for transformation and the creation of new value.

Our long-term vision is to be “a company that provides customers with a sense of security, is selected by customers and has consistent growth – To Be a Good Company for 100 Years and Beyond –”. Toward that end, we aim to secure a competitive advantage through quality and promote the initiative and ambition embodied in our Purpose to be there for customers and local communities in their times of need. As we work to resolve social issues, we also aim for substantial growth together with our sales agents.

1.Overview

Achieving our Purpose to "protect customers and local communities in their times of need" and to grow through the resolution of social issues.

Five social issues that we will approach as priorities

Global climate change and increasing natural disasters
Increased burden of long-term care and healthcare due to the aging of society and advances in medical technology
Various changes in the environment caused by technological innovation
Creating a symbiotic society and responding to the novel coronavirus
Industrial infrastructure supporting economic growth and innovation

Enhancing the power of insurance (problem-solving ability) and strategic pillars for achieving the above.

Creating value through DX
Increasing diversity and job satisfaction
Transforming our corporate ethos and culture to support our challenges

Promotion by our Mirai Project

2.Initiatives under the mid-term business plan

(1)
Value creation through DX (digital transformation)
- Establish a competitive advantage by using data and technology to transform business models, as well as by transforming corporate culture and dramatically improving our people's capabilities -
- Dramatic improvement in competitiveness and productivity through the creation of new value
  We will create new value and provide it to customers by fully utilizing digital technologies in various business areas.
- DX promotion in six areas
  Products/services
  Marketing
  Customer touchpoints
  Sales process
  Nonlife services process
  Common internal processes
(2)
Increasing diversity and job satisfaction
- Creating new innovation by promoting D&I (diversity & inclusion) and aligning growth vectors between the Company and employees by improving job satisfaction (engagement) -
- Raising employee motivation, spirit of challenge, and job satisfaction
  Toward the realization of our Purpose, all employees will work energetically and with high motivation based on their own initiative, and take on the challenge of various tasks as a team.
- Creating innovation through promotion of D&I
  We will create innovation by assigning the right people to the right jobs, using their individuality and expertise, and multiplying their abilities and values.
- Aligning company and employee growth
  Through these initiatives, we will make steady progress toward achieving our Purpose and create a virtuous circle in which the Company's growth and the growth of its employees are in alignment (enhanced engagement).