Social issues and our vision
Against the backdrop of a declining birthrate, aging population, digitalization, and diversifying lifestyles, we are entering an era in which people seek not only tangible wealth but also spiritual wealth, with each individual seeking fulfillment and happiness in life.
Social connections that are essential to people's health and longevity play an important role in improving the well-being of each individual.
With the declining population and concentration of people in metropolitan areas, however, Japan's regional areas must meet the challenges of local development and activation. Collaboration and co-creation with local governments and business partners are key to solving these issues while raising each customer's QOL. With our mission "By your side, for life," we stay close to each our customers throughout their lives, and through collaboration and co-creation with external parties, we are addressing issues in each region and realizing the value of experiences that can improve our customers' QOL. And by providing various connections, we are helping to create affluent and secure lives and society.
Initiatives and results
Dai-ichi Life is leveraging its regional network of 1,245 sales offices and branch offices and approximately 35,000 sales representatives around the country to resolve issues specific to each region. As of March 31, 2023, we had "Local Cooperation Agreements" with 47 prefectures and more than 330 local governments at the municipal level. The trust and goodwill that our branches and sales offices across Japan have generated through their efforts to solve local issues has culminated in partnerships with many local governments, and we are further deepening these ties through efforts to solve local issues including health improvement, support for the elderly, childcare, promotion of women's activities and community revitalization.
We have also been expanding our partnerships with financial institutions and companies in other industries with the goal of providing new experiential value that raises QOL for our customers. With each individual's sense of values diversifying, we began collaborating with new business partners to introduce services related to housekeeping and a hometown tax program in 2022 to deliver customer experience value that goes beyond the framework of insurance.
In January 2023, we made ipet Holdings a subsidiary as a novel initiative in the "Enhancing Connections" area. As such, we are striving to provide peace of mind to families and their pets, while creating new experiential value.
Medium-term initiatives
Continuing our efforts on "Enhancing Connections" between communities and customers over the long term, we are promoting initiatives that lead to new experiential value by sharing within the company initiatives that contribute to solving local issues and incorporating ideas and knowledge. Moreover, through collaboration and co-creation with local governments and business partners, we believe that we can create social and economic value for the Group by remaining close to our customers in their daily lives, helping them raise their level of well-being, and solving social issues without being bound by the framework of insurance, while creating a chain of connections.
Acquisition of ipet Holdings as a Subsidiary
The Best Partner in the "Enhancing Connections" Area
In March 2023, ipet Holdings became a wholly owned subsidiary of the Group. We began a business alliance with ipet Insurance, a subsidiary of ipet Holdings, in 2019 and have since built a relationship of trust through sales of pet insurance and the exchange of employees in the form of Dai-ichi Life's sales representatives.
In recent years, the status of pets in the home has changed dramatically as nuclear families have become the norm. Pets have become as important as family, hobbies, and health in improving people's QOL. We judged that ipet Holdings, for which the management philosophy seeks to protect the health of pets and create a society where pets and people can live together in good health, would be the best partner for our Group in the area of "Enhancing Connections."
Providing value beyond the life insurance business domain
With pets becoming ever more important members of the household, the pet-related market is continuing to grow steadily, and pet insurance in particular is a market that is showing strong growth.
Through the acquisition of ipet Holdings as a subsidiary, the Group has expanded its business wing into pet insurance, which is unusual in Japan in that it is a coverage market with a high growth rate.
Furthermore, we will be positioning this acquisition as a new initiative to provide value to our customers beyond the conventional life insurance business domain, from the perspective of "Enhancing Connections."
～Employee Comments～
Dai-ichi Life Holdings Corporate
Planning Unit
Juntaro Inamasu
We are very pleased to welcome ipet Holdings to the Group. ipet Holdings and Dai-ichi Life have been collaborating mainly in the area of pet insurance sales since the alliance began in 2019.
With the addition of ipet Holdings as a Group company, we intend to redouble our efforts as a unified group to deliver peace of mind to families with pets as we respond to the diverse needs of our customers.
