Financial Inclusion Initiatives
The Group is actively providing insurance to those who have difficulty in accessing financial services, with the aim of achieving stability in their lives through the dissemination of insurance and other means. In addition to providing products and services, we are also working to achieve financial inclusion through financial literacy education. Specifically, we are working to promote insurance by selling microinsurance products at Group companies in Vietnam, India, Indonesia, and other countries, which are easy for low-income people to purchase. These products are sold through a variety of channels, such as post offices and banks, according to the needs and preferences of the target audience, and are designed to reach unserved groups and expand the scope of financial services based on market research and customer feedback. Appropriate grievance procedures are in place in each country that are accessible to all customers, including those covered by these products. In addition, training is provided to staff to prevent aggressive sales and unrespectful treatment of the targeted groups to all customers, including those covered by financial inclusion products. When selling microinsurance products, especially as exemplified by India's PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana), we engage in dialogue and cooperation with the governments of the selling countries to provide insurance products which can reach wide range of income group. Achieving livelihood stability through insurance penetration, including financial inclusion initiatives, is one of the four values of experience that we offer, and this has been incorporated into our mid-term management plan and approved by the Board of Directors.
| Products & Services | Products & Services (category) | Targeted Clients | Provision of Products & Services | Number of Clinets reached/transactions/contracts | |
|---|---|---|---|---|---|
 Dai-ichi Life Insurance Company of Vietnam, Limited |
Dai-ichi Life Vietnam offers microinsurance (small-amount individual and small-group insurance) through Vietnam Post, (face-to-face) which has a network across the whole of Vietnam*. This promotes the spread of life insurance to low-income earners, as well as small businesses and rural residents. In addition, Dai-ichi Life Vietnam itself also offers microinsurance through online channels (non-face-to-face), from underwriting to payment. In addition, Dai-ichi Life Vietnam has partnered with five banks (Sai Gon Thuong Tin Commercial Joint Stock Bank/An Binh Commercial Joint Stock Bank/Lien Viet Post Joint Stock Commercial Bank/Bac A Commercial Joint Stock Bank/Saigon Hanoi Commercial Joint Stock Bank) and various companies (KHR/ ICRAFT/ HHI/ MLG/ Tuong Nguyen) to sell all kinds of life insurance products and special policies.
|
Small-amount individual and small-group insurance | Microbusinesses, Poor and low income individuals, Individuals in rual areas | Via post, partner companies | Number of microinsurance holdings sold via Vietnam Post: 11,239 (as of March 2024). |
 Star Union Dai-ichi. Life Insurance Company Limited |
Star Union Dai-ichi Life (SUD) sells the small group term insurance product "SUD LIFE Pradhan Mantri Jeevan Jyoti Beema Yojana (PMJJBY)", which is based on the social security scheme promoted by the Indian government that allows people to purchase life insurance at a low cost. With the support of SUD's marketing and sales, the product is sold face-to-face through five partner banks (Bank of India, Union Bank of India, Aryavart Bank, Madhya Pradesh Garmin Bank, and Vidharbha Konkan Garmin Bank), contributing to the spread of insurance throughout India. | Small group term insurance product | Poor and low income individuals | Via partner banks | Number of PMJJBY contracts: 13,007,675 (as of March 2024) |
 Ocean Life Insurance Co., Ltd. |
Ocean Life offers “Credit Life for The People” (group credit life insurance) through an online channel. This product supports underserved non-bank customers. Specifically, it provides protection for borrowers seeking affordability, tax credit benefits, and refinancing. | Group credit life insurance | Non-bank customers who do not receive sufficient services | Via online | Number of Credit Life for The People contracts: 291 (as of March 2024). |
 Dai-ichi Life Insurance (Cambodia) PLC. |
Dai-ichi Life Cambodia offers "BrightLife", an affordable and easy-to-use digital insurance plan targeting Cambodia's low-income earners. The minimum premium is a reasonable $20 per year, and the entire process from insurance quote, subscription, and insurance claim application to payment can be completed online (without face-to-face contact). | Life or total permanent disability (TPD) Insurance | Poor and low income individuals | Via Online | Number of BrightLife contracts: 284 (as of March 2024). |
 TAL Dai-ichi Life Australia Pty Ltd. |
TAL has developed and updated underwriting guidelines for HIV-positive customers, and HIV-positive customers are no longer excluded on the basis of HIV from purchasing life, income and total disability (TPD) insurance. We have been able to extend insurance and coverage to HIV-positive people who previously had difficulty obtaining insurance: since April 2023, 28 HIV-positive customers have been insured in individual and group insurance policies. | Life, income and total disability (TPD) insurance | HIV-positive customers | Via online/over the phone | Number of customers who have joined the plan even if they are HIV-positive: 28 (as of May 2024) |
| Non-financial Support (category) | Support Details | Targeted Clients | Provision of Services | Quantitative social impact KPI | |
|---|---|---|---|---|---|
 Protective Life Corporation |
Protective Life funded the creation of a sustainable wealth-building program for underserved communities through the American College. A partnership to launch a financial literacy program for students at a Cincinnati-area Historically Black Colleges and Universities (HBCU), Center State. The program is a collaboration with national financial services institutions to leverage existing programs and initiatives aimed at bringing increased access education, experience and connections to underserved communities. Education components included Credit Management and Student Loan Management, Personal Money Management, Investor Education, Homeownership. | Funds support the creation of partnerships to improve financial literacy | College Students | - | The opportunity is to increase financial literacy among 500-1000 students per year (and ripple affect in their families and communities) |
| Star Union Dai-ichi. Life Insurance Company Limited |
Star Union Daiichi Life provides training to help rural women acquire the skills they need to become financially independent and find high-income employment. The Bima Sakhi (Insurance Buddy) project has reached out to more than 1,200 women in three states in India (Maharashtra, Madhya Pradesh, and West Bengal) by June 2024. The project included insurance awareness sessions and a one-day training program on SUD life insurance products. In addition, 200 of these women were selected to participate in a five-day selection program on the importance of insurance and SUD life insurance products. These initiatives have led to employment opportunities for women in the workforce and the development of women's skills in India. | Training to develop skills for self-sufficiency and to obtain well-paying jobs | Women in rural areas | - | Number of women who participated in the Bima Sakhi project: over 1,200; number of women who participated in the selection program: 200 (as of March 2024) |
 Dai-ichi Life Challenged Co.,Ltd. |
At Dai-ichi Life Challenged, we create a wide range of jobs that allow people with intellectual or mental disabilities to work by making the most of their individual abilities. Of our 380 employees, 281 are disabled, and of these, approximately 97% have intellectual or mental disabilities. A job ranking system is in place that allows both people with and without disabilities to be promoted, and people with various disabilities work in a diverse range of workplaces. We provide annual, position-based and theme-based training to help our employees improve their skills and deepen their connections. Theme-based training includes interpersonal skills training, organizational management training, and information sharing training. | Creating a wide range of jobs to allow employees with disabilities to work with their individuality, and training by year, position, and theme to improve employees' skills and deepen their connections. | Persons with intellectual or mental disabilities | - |
Number of employees with disabilities: 281 (222 with intellectual disabilities, 51 with mental disabilities, 8 with physical disabilities) (as of June 2023) Number of employees who have attended training by position and year: 101; Number of employees who have attended training by theme: 222 (as of March 2024) |
Dai-ichi Life Insurance Company of Vietnam, Limited |
Dai-ichi Life Vietnam continuously supports activities to restore and bring light to disadvantaged cataract patients, and in 2022 supported six charity eye surgeries for 1,500 disadvantaged cataract patients in the four provinces of Ho Chi Minh, Lam Dong, Kien Giang and Tay Ninh. Including cancer and cataract patients, the total amount of support amounted to VND 1.5 billion. | Charity eye surgery | Underprivileged cataract patients | - | Number of cataract patients supported: 1,500; total amount of support for cataract patients combined with cancer patients: 1.5 billion VND (as of the end of December 2023) |
TAL Dai-ichi Life Australia Pty Ltd. |
TAL supports Aboriginal and Torres Strait Islander people and communities in Australia. We are increasing the proportion of Aboriginal and Torres Strait Islander people in our workforce and developing and implementing strategies to remove barriers, retention and skills development in the workplace. More than 500 TAL employees have attended learning tools that promote understanding of Aboriginal and Torres Strait Islander Indigenous culture. A partnership with Career Trackers, which develops Indigenous students into the workforce, was established in 2016 and has supported a total of 22 internship students. | Increase the percentage of Aboriginal and Torres Strait Islander recruitment and develop and implement strategies to remove barriers, retention, and capacity building in the workplace | Australian Aboriginal and Torres Strait Islander Peoples and Communities | - | Number of indigenous students accepted as internship students: cumulative total of 22 (as of March 2024). |
Please refer to Sustainability Report for details of Financial Inclusion.
Sustainability Report