Strategy (Re-connect 2023)

The new medium-term management plan,
Re-connect 2023, revisits our approach to
stakeholders - to meet their expectations - based
on the achievements of the previous medium-term plan
and current management challenges.
Further, Re-connect 2023 strives for sustainable growth
through four key initiatives – Domestic Business Strategy,
Overseas Business Strategy,
Finance/Capital Management Strategy,
Sustainability & Business Foundation.

Recognition of Business Environment

In the previous medium-term management plan "CONNECT 2020" which aimed at the "strengthening of ties with all stakeholders", we achieved certain results in each business area. However, some ties have become segmented and changed as a result of the COVID-19 crisis, and people’s values and society are changing rapidly. In addition, the Group has discovered cases that caused a loss of trust of customers and society, leaving a major issue to be addressed. Based on this environment, in the new medium-term management plan "Re-connect 2023", we aim to meet the expectations of everyone by revisiting our approach to stakeholders and re-engaging.

  • Policyholders
    • Address changes in needs and behavior
    • Incorporate medical and digital tech
    • Achieve true customer centricity
  • Society and Environment
    • Secure sustainability
    • Be eco-friendly and combat climate change
  • Shareholders
    • Achieve high capital efficiency
    • Enhance shareholder payout
  • Business Partners
    • Expand insurance-related services from a customer perspective
    • Seek collaboration to help resolve social issues
  • Employees
    • Improve employee engagement and well-being
    • Promote active participation of diverse talent
Dai-ichi Life Group revisits our approach to stakeholders
to meet their expectations and strives for sustainable growth.

New Vision of Dai-ichi Life Group

Dai-ichi Life Group has established a new Group Vision to aim for well-being by offering experiential values that we can deliver with confidence, namely peace of mind, prosperity and good health.

“Protect and improve the well-being of all”

As a lifetime partner, we safeguard and contribute to the peace of mind, prosperity and wellness of all the people we serve.

Value Creation Process

Dai-ichi Life Group hopes to continue contributing to the well-being of all people into the future, regardless of generation, to enable them to lead healthy and prosperous lives with peace of mind. To this end, we will apply our collective strengths to creating four experiential values and ensuring local and societal sustainability through our business.

Our Ambition for "Re-connect 2023"

Re-connect 2023
  • Concept Revisit our approach to stakeholders and re-engage Harmonize values to transform with a stronger bond among all employees
  • Stakeholders

Four Key Initiatives of "Re-connect 2023"

Domestic Business
Expand existing business while exploring for opportunities beyond insurance
  • Domestic business model transformation and CX boost by leveraging four experiential values
  • Structural reform of the sales representative channel and raise efficiency
Overseas Business
Build a business portfolio that drives growth
  • Increase profits in existing markets and further drive business
  • Leverage DX to increase CX and further enhance operational efficiency
Financial/Capital Management Strategies
Improve financial standing and disciplined capital management
  • Drastically improve capital efficiency by mainly reducing market related risks
  • Strike a balance between disciplined capital allocation and strong shareholder payouts
Sustainability & Business Foundation
Create a universally bright future by fulfilling our part in enhancing sustainability
  • Drive initiatives for carbon neutral
  • Group human capital strategy and group governance to support business foundation

KPIs of "Re-connect 2023"

The Group will shift the management values from quantity to quality.
As our most important issue, we will work on the realization of capital efficiency that stably surpasses capital costs.

Key Performance Indicators (KPIs) of the Group
  • Capital Efficiency (Accounting Profit)
    Adjusted ROE

    Medium-Term (FY2023) Target Level

    approx.8

    Long-Term Direction (around FY2026)

    approx.9
  • Capital Efficiency (Economic Value)
    ROEV

    Medium- to Long-Term Target: approx.
    (around FY2026)

    average 8
  • Risk Profile Reform
    Market Risk Reduction (Interest rate risk and equity risk vs March 31, 2021)

    Medium-Term (FY2023) Target Level

    Risk Reduction of
    ¥560bn
    (equivalent to approx.20% of market risk as of March 31, 2021)

    Long-Term Direction (around FY2026)

    Additional Risk Reduction of
    ¥260bn
    (Total of approx. ¥820bn from March 31, 2021 to FY 2026)
  • Financial Soundness (Economic Value)
    Economic Solvency Ratio (ESR)

    Long-Term Direction

    Maintain a stable level of
    170% to 200 in the long-term
    Reduction of sensitivity to financial market
  • Market Evaluation
    Relative Total Shareholder Return (TSR)

    Long-Term Direction

    Build a relative advantage in comparison with
    10 domestic and overseas competitors
  • Profit Indicator
    Adjusted Profit

    Medium-Term (FY2023) Target Level

    Expected Range approx.
    ¥250bn to ¥280bn
Domestic Business KPIs
  • Improve Customer Satisfaction

    by FY 2026 for all above targets

    NPS® for Dai-ichi Life:
    Top Level in Japan

    by FY 2026 for all above targets

    Total No. of Customers: approx.12mn
  • Improve productivity

    by FY 2026 for all above targets

    Reduction (Dai-ichi Life):
    reduce by approx.¥30bn

    by FY 2026 for all above targets

    Strategic Personnel Shift:
    around3,100ppl.

Relevant Contents

Please view the following pages for more information.