Dai-ichi Life Holdings

Message from the President on Sustainability

We are dedicated to raising quality of life for all, realizing our mission, "By your side, for life."

Continuing to Be "By your side, for life"
- Resolving Social Issues, Adjusting to Changes -

Since its foundation in 1902, the Dai-ichi Life Group has been offering peace of mind to meet customer needs and has been contributing to resolving social issues mainly through the life insurance business, where we are committed to each customer. The Group has a history of addressing social issues, while adjusting to changes with customers and society.
The mission of the Group, "By your side, for life," expresses our commitment and pride, inheriting the Group's history. The Group has grown to have 10 life insurance companies and two asset management companies in Japan and overseas, and its mission remains unchanged.
The Group's mission, "By your side, for life," is based on "Pursue what's best" and "spirit of innovation," which were advocated by Tsuneta Yano, the founder. "Pursue what's best" means that we should always make sincere efforts to provide the best value to people which can obtain the largest support by people for the contribution to the happiness of people and the development of society. "Spirit of innovation" means that we should do whatever is needed to pursue what's best and should not avoid boldly changing our business style or method.
Since I became president, I have shared my thoughts with employees about how to work as a lifelong partner, quoting the founder: "Consider if it makes people happy or if it is something they can do without. The value of work that people feel is important and convenient will definitely be recognized. People will approve of the work and will make it grow. We work for the people."
That is the essence of being a life-long partner, which has unchanging value when we strive to be chosen by customers and society and achieve growth.
We will continue to create and provide value in response to new customer needs and social issues with agility and integrity without losing sight of the essence. We will share these thoughts with 70,000 people in the Group and will work together to achieve new growth.

Creating New Social Value by Contributing to Improving QOL
- Contributing to Achieving the SDGs -

It is said that the age of the 100-year lifespan has arrived. Thanks to advances in science and medical technology, we have achieved longevity and convenient and affluent lives. Meanwhile, health promotion from early on, the prevention and appropriate treatment of chronic disease and financial preparations in an aging society have emerged as major challenges. Needs related to those challenges are expected to increase not only in Japan but worldwide. The international community should address a wide range of social issues, including climate change, human rights and issues related to the progress of digital technologies.

Lifestyles have become diversified. Millennials have values that are completely different from those of previous. They see value in sharing rather than possessing as well as sharing daily connections with many people on social media. The factors for the diversification of lifestyles include increasing single-person households, the expansion of freelance work and an increase in foreign residents associated with globalization. As a result of diversification, customers with different values have a very wide variety of expectations and needs and request that companies to provide products and services that will meet their expectations and needs.

Diversifying Lifestyles in Japan

Considering the emergence of challenges in the age of the 100-year lifespan and the diversification of lifestyles, the Group has decided to create new value by contributing to improving QOL (quality of life) as a life-long partner through initiatives in the Medium-term Management Plan "CONNECT 2020." We think that improving QOL means that each person lives as they like and realizes their ideal way of living. How will we contribute to making that happen? In what areas do society and customers expect us to provide unique value that will improve people's QOL and to continue to realize our mission as a life-long partner? We considered the answers to those questions, taking into consideration our perception of the environment, the characteristics of our business and our strengths. We have decided that in addition to providing value in the field of security as we have done, we will expand in earnest into the fields of asset building, health promotion and people's bonds and connections, which everyone will need to improve QOL, to contribute to society and customers.
Contributing to improving QOL as a life-long partner is a concept shared not only in Japan but in the seven other countries where we operate.

Improving Quality of Life for Everyone

We aim to provide value, taking the targets of the UN SDGs into consideration. Therefore, we think that our initiatives to contribute to improving QOL will contribute to achieving the SDGs.

The Group extracted 50 social issues from the SDGs and analyzed them. Of the 50 issues, we have identified 11 that are particularly important and have prioritized them in the Medium-term Management Plan.
For example, in relation to Goal 3 of the SDGs (Ensure healthy lives and promote well-being for all), we have made "promotion of the health of all people" an important theme. In addition to economic protection against disease, nursing care and death, traditional roles of insurance, we will contribute to health promotion and prevention of increases in the severity of disease. We will go beyond the boundary of the existing insurance business model to improve the QOL of each customer.

Mapping of Material Issues

To contribute to improving QOL, the Group is creating unique innovations, combining insurance business and technology. We have named this initiative "InsTech." We position the initiative as a top-priority strategic challenge and the entire Group is promoting it. As part of the initiative, The Dai-ichi Life Insurance Company promoted the analysis of medical big data and analyzed hospital admission data for people with specific diseases. Analysis of 38,000 insurance applications from people with high blood pressure and diabetes, among other diseases, resulted in the expansion of insurance underwriting (equivalent to 3% of annual new policies at Dai-ichi Life).
This is a breakthrough because we were able to provide security to as many people as possible and contribute to stable lives and an improvement of QOL for more people. We are considering expanding insurance underwriting by conducting similar data analyses.
In April 2018, we established Dai-ichi Life Innovation Lab in Shibuya, Japan, and Silicon Valley, USA. We will take the lead in innovation through similar initiatives, considering future changes in the external environment surrounding the life insurance business and the rapid development of technology, and will contribute to resolving social issues by improving QOL.
In addition to our traditional role of complementing the social security system through the life
insurance business, the Group will contribute to flexibly resolving social issues, including the stabilization of life, the extension of a healthy life span and asset life expectancy, and the ensuring of the sustainability of communities and society.

For a Prosperous Future
- Ensuring the Sustainability of Communities and Society -

The Group has life insurance operations across the country. Taking advantage of this strength, we will create livable and worker-friendly communities by providing connections and places for people connections, thereby contributing to improving QOL. The Group is the only life insurance entity that has concluded partnership agreements with 47 prefectures. Using this strength, we have started to provide an elderly monitoring service and child-care support and promote industry and business in cooperation with local governments to resolve a variety of issues in communities.
As a life insurance company, which invest insurance premiums from policyholders, we actively make ESG investments, which may contribute to creating innovations, invigorating communities and mitigating climate change. Having the achievement of profitability as the precondition, we help create innovations and revitalize regions by making ESG investments, including impact investments (investments in businesses that are expected to bring about positive structural changes in society, or social impacts). As a global life insurance group, we are considering contributions to resolving global social issues, such as the mitigation of climate change and infrastructure development in emerging countries by making ESG investments.
We think that climate change is an important issue that the entire international community should address and agree on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) set up by the Financial Stability Board (FSB). We will promote the analysis of risks and opportunities that will affect the life insurance business and asset management business of the Group, such as effects of the expansion of natural disasters and infections caused by climate change on life and health, and the effects of policy changes associated with a transition to a low-carbon society on investments and loans.
The Group will strive to create enriched lives and a society full of a feeling of security, building a variety of partnerships to resolve issues in communities and society, and will seek to develop sustainably with communities and the international community.

Lastly

The Group will contribute to resolving social issues and improving QOL to continue to realize its mission as a life-long partner. Based on those thoughts, the entire Group will work together to create value worldwide and will deliver a secure future for every community we serve, using the best of our local and global capabilities. We aim to realize a sustainable society. Going forward, I hope we can rely on your continued support.

President and Representative Director
Dai-ichi Life Holdings, Inc.

Seiji Inagaki