The Dai-ichi Life Group aims to provide high-quality products and services that pursue customer satisfaction while staying close to customers. Life insurance originally aims to build a CX design strategy that aims to deliver excitement that exceeds expectations to all people, not only to improve customer satisfaction, but also to ensure that customers receive insurance claims and benefits. We will pursue customer-first efforts to fulfill our role.
The Customer First Group Business Operation Policy
In accordance with The Customer First Group Business Operation Policy established by the Dai-ichi Life Group, we disclose the status of initiatives at each Group company.
CX Design Strategy
Through a CX Design Strategy focused on customer experience (CX), we will inspire emotions that exceed the expectations of all.
*What does High "CX" refer to?
We define customer experience (CX) as the psychological and emotional value that customers experience through all points of contact with the Group. Focusing on CX enables us to address the improvement of value received by customers that goes beyond enhancing the value of products and services. It also leads to the identification and improvement of CX issues that could jeopardize the value of those products and services.
Why do we focus on CX?
With the widespread use of the Internet and social networking services, a variety of information is readily available at any time. The younger generation, known as Generation Z, are called "digital natives" because they utilize digital technology and gather sufficient information before making purchases.
This change in consumer behavior is eliminating the "asymmetry of information" that once existed between sellers and buyers, leading to the progressive commoditization of products in various fields. Originally, the field of life insurance required significant expertise and had a certain level of "asymmetry of information." As access to information becomes easier, however, it is increasingly difficult to differentiate products and services simply by the value they provide. We believe we need to also deliver "emotional value," including the psychological satisfaction that customers gain, to enhance the overall value of the customer experience and differentiate ourselves from our competitors. In addition to creating business processes that focus on CX, we will increase the number of fans of our Group by judiciously understanding the diversifying values and needs of individual customers and delivering experiences exceeding their expectations through all contact points. We believe this will lead to sustainable growth.
Overview of CX Design Strategy
To address emerging social issues, our Group delivers four experiential values that go beyond the framework of conventional insurance. Those values are Protection, Asset Formation/Succession, Health and Medical Care, and Enhancing Connections. Drivers to maximize each of those experiential values while standing by the side of our customers throughout their lives is CX Design Strategy.
Our CX Design Strategy aims to provide emotional experiences exceeding customers' expectations by not only refining each of the experiential values but also delivering those values through daily life. To this end, we aim to realize the Group's concept of online-merges-with-offline (OMO), which connects all customer contact points by integrating digital channels (online) and real face-to-face channels (offline). In addition to insurance, we will expand our services through collaboration with external business partners in various non-insurance areas that improve the well-being of our customers, such as marriage, housing, inheritance, and near end-of-life support. We aim to deepen our understanding of individual customers and deliver what they want, when they want it, in a natural way. Here, we will utilize technology at the various customer contact points, both digital and physical.
Through our CX Design Strategy, which delivers the four experiential values in an optimal form, we will help address emerging social issues and realize well-being for all people
Vision for CX Design Strategy
As customers' values diversify and their behavior changes, we believe it is crucial to transform our business processes to stand by our customers' values and enhance their CX.
Taking the customer satisfaction survey a step further, our Group has introduced a KPI called NPS® (Net Promoter Score), which measures the "promoter score" (degree to which customers would recommend our services to friends and acquaintances), as a direct evaluation from our customers. To sustainably increase the number of customers that support our Group, we consider the number of domestic customers to be an important indicator. From fiscal 2023, however, the target includes not only the number of customers in the insurance area but also the number of customers served by products and services in the non-insurance area. By implementing the CX Design Strategy, we aim to achieve "Top-level NPS® in Japan" and "15 million total domestic customers" by fiscal 2026.
Initiatives to achieve our vision for CX Design Strategy "Improve NPS® dramatically"
The NPS® involves surveying customers about products and services to arrive at an 11-point "promoter score" and converting it into an indicator. The difference between the percentage of "promoters" and the percentage of "critics" among total respondents is the NPS®.
Products and services with a high NPS® (many promoters) have broad appeal and increased connections with new customers. Accordingly, NPS® is known to be highly correlated with a company's growth potential and profitability.
At Dai-ichi Life, we conduct timely in-house point-of-contact NPS® surveys to investigate and understand the "voice of customers" at daily contact points. Once a year, we also conduct an in-house comprehensive NPS® survey that integrates a series of customer experiences to confirm the overall evaluation by customers.
In addition to these in-house NPS® surveys, we use external NPS® surveys for peer comparison, conducted by an external research organization. Our aim here is to identify issues by clarifying the areas where we are supported by customers and areas with room for improvement, from an objective viewpoint.
The NPS® of Dai-ichi Life currently ranks in the middle of the sector. The survey results revealed issues in the areas of "ease of understanding of products" and "ability to make proposals and expertise." Accordingly, we recognize the need to continue listening sincerely to customers and making improvements. We would like to improve our NPS® significantly by making repeated improvements rapidly for issues related to customer contact, products, and services, as well as by gaining a deeper understanding of individual customers.
Expansion of digital contacts
To achieve the vision of our CX Design Strategy, Dai-ichi Life operates a website called "Mirashiru" to provide information related to people and their lives, health, money, and insurance. The site focuses on the four experiential values and daily communication with customers. In fiscal 2022, we expanded the functions so that our sales representatives, who have real contact with customers, could connect with them through "Mirashiru" to address their various needs, including for insurance consultation. We will further improve communication with customers by delivering optimal content, products, and services based on analysis of digital information such as site visits. We are also actively promoting the digitization of various procedures for customer contracts. By expanding our digital contacts and promoting the fusion of the digital and real channels, we will provide customers what they want, when they want it, in a natural way.
Improve consulting capabilities of sales representative channel
We are drastically transforming our sales representatives channel. This involves a major overhaul of the recruitment, compensation, and evaluation systems, as well as training education follow-up. We are also working on integrative reforms of consulting and products to evolve the channel into one that can deliver even avoid higher levels of CX.
Through these initiatives, we will deliver the best value to our customers and create a virtuous cycle that will increase the number of customers, thereby realizing our vision for FY2026.
