Social Issues addressed by Sumitomo —Compass for the Future—

Sumitomo Life Insurance × Wellness & Regional revitalization

Realizing “healthy lifestyles” and “safe and secure living”
Supporting a society of affluence, vitality, health and longevity through life insurance products

 Wellness
Workstyle reform has been a priority issue for some time. Companies have become increasingly aware of the need to develop systems that make it possible for diverse human resources to work in ways that meet people’s individual needs, while increasing labor productivity through the use of ICT. Particularly in Japan, where a declining birthrate and population aging are becoming ever more pressing issues, flexible workstyles are essential to secure human resources in anticipation of the future decline in the working-age population. In addition, the COVID-19 pandemic has led to an inexorable shift toward remote work, which is attracting attention as a new way of working suited to the new normal. With healthy longevity as the goal, Sumitomo Life Insurance is endeavoring to promote well-being through its insurance business in light of the emerging 100-year lifespan in the aging society.
 Regional revitalization
Fewer people in rural Japan and weaker local economies are consequences of population aging and concentration of people in the Tokyo metropolitan area. The term “regional revitalization” came to prominence in 2014 when the second Abe administration advocated a policy of that name. Essentially, regional revitalization refers to initiatives leveraging the attributes and resources that each region can offer, whether industry and commerce, natural beauty, culture, or other touristic attractions, to strengthen local economies, captivate visitors, and tackle the problem of population decline. Some goals of the Sustainable Development Goals (SDGs), such as “sustainable cities and communities” and “good health and well-being,” have strong affinity with regional revitalization. Sumitomo Life Insurance is collaborating with local governments to create a safe and secure society by raising awareness concerning healthy lifestyles, disaster prevention, crime prevention, and support for care of the elderly.

Sumitomo Life Insurance positions its Management Policy, a corporate philosophy expressing the fundamental spirit of management, at the apex of its operating policy. Whereas the Sustainability Management Policy stipulates the company’s universal mission stated in the Management Policy from the sustainability perspective, the Sumitomo Life Brand Vision articulates the image of the company that Sumitomo Life Insurance aspires to become over the medium to long term from the customer’s perspective.

In accordance with the Sumitomo Life Medium-Term Business Plan 2022, the company is helping to achieve the SDGs by contributing to a society in which good health and longevity are the norms through the promotion of SUMITOMO LIFE Vitality.

Vitality, developed by Discovery Ltd., a South African financial services company, is an innovative insurance service that includes a health promotion program. Prompted by a desire to help people live healthier, more fulfilling, safe and secure lives, Vitality was launched in 1997 in South Africa. Vitality is currently available in 36 countries and regions worldwide, with approx. 27.1 million members as of February 1, 2022. Sumitomo Life Insurance is the sole life insurance company with the right to market Vitality in Japan. Since the launch of SUMITOMO LIFE Vitality in July 2018, sales of this product have been increasing year by year, with cumulative sales exceeding 1 million policies in fiscal 2021.

Overview of SUMITOMO LIFE Vitality

Sumitomo Life Insurance Vitality combines the Vitality Wellness Program, which supports health promotion through evaluation of health-enhancing activities and the granting of various rewards to reduce the risk of illness etc., with an insurance policy covering hospitalization, surgery, and loss of earnings due to injury or illness. In March 2022, the company began offering the Vitality Health Report, in which the risk of hospitalization is quantified as a “health score” based on the results of health checkups and the positioning of the insured is indicated in relation to other insured people of the same sex and demographic.

A questionnaire survey of Vitality members conducted in 2021 revealed that 89% of respondents had become more conscious of health since becoming Vitality members. Moreover, a survey of the number of steps taken by Vitality members and their health checkup results indicate an 11% increase in the number of steps taken per day. Moreover, 52% of Vitality members with high blood pressure experienced a decrease of at least 10mmHg in blood pressure. Many Vitality members responded that their quality of life had improved. A study found that the mortality rate of Vitality members is about 40% lower than that of non-members, and the hospitalization rate is about 10% lower.

Making a distinction between the insurance policy and SUMITOMO LIFE Vitality, Sumitomo Life Insurance has been offering elements of the Vitality Wellness Program, free of charge, for a limited period of time. Currently, two principal versions are offered. Whereas the trial version is offered to individuals via sales representatives, the corporate version is available for company employees as a facet of Sumitomo Life Insurance support for companies promoting health-focused management. In addition, Sumitomo Life Insurance is promoting projects in collaboration with local governments to encourage local residents to embrace behavioral changes beneficial to their health. For example, in April 2022, the company launched the Yamagata City Vitality Walk project with Yamagata City in Yamagata Prefecture, utilizing elements of the Vitality Wellness Program to promote the health of local residents.

●Please refer to the “Rewards” page (in Japanese only) on Sumitomo Life Insurance’s website for details of the benefits and availability of the services.
●Some benefits (rewards) are not available in the case of the Vitality Wellness Program (except in the case of the Standard Plan).
Please refer to the “Rewards Usage Guide” for details of the benefits (rewards) available for each plan.
* To use the Vitality Wellness Program, if you are enrolled in the Vitality Wellness Program (Standard Plan), a monthly fee of 880 yen (tax included) must be paid separately from the insurance premium as the Vitality usage fee. The amount may differ if you are enrolled in a plan other than the Standard Plan. The contents of the Vitality Wellness Program contract (health promotion activities for which points are earned, details of benefits provided, Vitality usage fee, etc.) are as of October 2022 and subject to change.

Japan is now a super-aging society, with the number of people aged 75 or older forecast to increase to 22.9 million (19.2% of the population) by 2030. The incidence of dementia also increases among those aged 75 or older. Sumitomo Life Insurance established the 100-year Lifespan Support Council, which is a cross-departmental organization, and formulated the Guidelines for Fulfilling Roles in a Super-aging Society in January 2021 to promote a unified company-wide response to the elderly and the super-aging society.

Mindful of the advent of an era in which a 100-year lifespan is no longer an outlier, and furthermore, in light of such factors as diversifying lifestyles and changes in medical services, Sumitomo Life Insurance will work to resolve social issues of the super-aging society in order to realize the “healthy lifestyles” and “safe and secure living” that are required for a society of affluence, vitality, health and longevity. The company has also established a system to ensure all its employees are well-informed about the needs of the elderly and the super-aging society and thus able to respond effectively to customers. The company is encouraging all its employees to take gerontology examinations and is offering lectures by experts and various other training programs. The initial training curriculum for Sumisei Life Designers, that is, for Sumitomo Life Insurance sales staff, includes a dementia supporter training course.

To assist customers who are experiencing cognitive decline and to help ensure a safe and secure social environment, Sumitomo Life Insurance is also promoting the development of relationships with community comprehensive support centers, which assist the elderly by facilitating access to long-term care, healthcare, insurance, and welfare. The company is strengthening its ties with local communities by participating in activities to support the care of the elderly and in community events. It is also supporting initiatives such as the National Health and Welfare Festival, commonly known as Nenrinpic, an annual event encompassing sports, culture, health, and welfare primarily for the elderly that the Ministry of Health, Labour and Welfare holds with the cooperation of prefectures and the Foundation of Social Development for Senior Citizens.

SUMITOMO LIFE INSURANCE COMPANY
http://www.sumitomolife.co.jp/english/
Sumitomo Life Insurance Company provides various types of life and annuity insurance products for both individuals and groups, with particular focus on the comprehensive insurance "LIVE ONE" The collected premiums and other corporate assets, amounting to a pproximately 21 trillion yen, are invested in securities, cash loans, and real estate.

Social issues addressed by Sumitomo Group companies

Decarbonization

Decarbonization

Read about initiatives to achieve a low-carbon society, aiming at net-zero greenhouse gas emissions since these emissions are implicated in global warming.

Supply chain

Supply chain

In view of ongoing globalization and the growing complexity of supply chains, companies need to respond appropriately to issues in supply chains.

New workstyles

New workstyles

The pace of workstyle reform is accelerating as the COVID-19 pandemic has prompted numerous companies to embrace novel ways of working.

Wellness

Wellness

For companies, the COVID-19 pandemic has brought the crucial importance of employee health into sharp focus.

Climate Change

Climate Change

Accelerating global warming poses serious business risks. Accordingly, companies need to formulate strategies and implement specific countermeasures from a medium- to long-term perspective.

Electrification of mobility

Electrification of mobility

Spurred by efforts to reduce environmental impacts and in line with increasing social needs, replacement of gasoline-powered vehicles with electric vehicles is accelerating.

Community

Community

Vigorous initiatives are afoot to tackle social issues by revitalizing communities and the interpersonal relationships that bind them together.

Poverty

Poverty

Poverty persists in contemporary Japan and the existence of child poverty is a grave concern.

Development of the next generation

Development of the next generation

In view of the continuing decline of Japan’s working age population, due to population aging coupled with a low birthrate, development of the next generation is an urgent issue.

Advanced Medicine

Advanced Medicine

The rapid progress in medicine in recent years is largely due to the efforts of not only universities and other research institutions but also of companies to develop cutting-edge technologies.

Local production for local consumption

Local production for local consumption

Numerous initiatives to promote industry and commerce at the regional and community level are underway, involving the use of renewable energy and thus contributing to decarbonization.

Food loss and waste

Food loss and waste

One-third of food produced is lost or wasted globally, amounting to about 1.3 billion tons per year. Food loss and waste is a pressing issue in need of a solution.

Planetary Health

Planetary Health

Companies are addressing a wide range of issues so that people and companies can coexist in harmony with the global environment.

Resilience

Resilience

In addition to natural disasters, there are various types of hazards whose nature, incidence and severity are changing with the times. Resilience and flexibility are indispensable in dealing with them.

Regional revitalization

Regional revitalization

Read about initiatives to achieve sustainable regional revitalization. The attributes and resources that each region can offer are leveraged to strengthen local economies and overcome the problem of population decline.

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