“CSV Project” - Aim to extend healthy life expectancy of Japan –

#SDGAction42775

Description

Intro

Sumitomo life promotes the CSV* project, revolving around the SUMITOMO LIFE Vitality Shared-Value Insurance launched in July 2018. Through the “CSV Project”, we will contribute to extending healthy life expectancy of Japan.<br />
<br />
* Abbreviation for Creating Shared Value; management concept of corporation balancing goals of “resolving societal problems” and “enhancing corporate value (raising profits and competitiveness)”

Objective of the practice

In Japan’s highly greying society, life insurance needs are shifting from mortality coverage designed to support bereaved families, to products designed to pay benefits during the lives of the customers. We have proactively offered coverage that extends beyond mortality to include morbidity and longevity.<br />
<br />
Furthermore, the awareness of health is increasing rapidly amid the recent acceleration of initiatives to extend healthy life expectancy, and the expansion of health-related markets. Capturing this trend, we successfully developed and launched SUMITOMO LIFE Vitality Shared-Value Insurance in July 2018, which is an insurance product that incorporates the Vitality Wellness Program, and supports people who want to become healthier and to be prepared for risks at the same time. Through SUMITOMO LIFE Vitality, we seek to make people healthier and to realize a healthy and long-living society. In addition, we will continue to “create new value for customers and to build the future together”, through the acceleration of the “CSV Project”, whose goal is to create shared value among “customers,” “society,” “the Company and its employees”.

Partners

Customers, society, employees, and partner companies which provide various rewards to policyholders.

Implementation of the Project/Activity

“CSV Project” consists of 3 main initiatives. We will contribute to extending healthy life expectancy of Japan through them.

1. Provision of SUMITOMO LIFE Vitality Shared-Value Insurance
SUMITOMO LIFE Vitality “reduces risk itself”. The program is designed to help policy holders to modify their behaviors and to get healthier by giving them tools, knowledge, access, and incentives to improve their health.

2. Promotion of healthier lives throughout the society (“Sumisei Vitality Action”)
“Sumisei Vitality Action” is a project through which we hope to enhance health and happiness by　encouraging participants to move their bodies with their loved ones. To enhance health, an appropriate amount of regular exercise is necessary. To encourage regular exercise, we suggest participants to move your body “with your loved ones”.

3. Promotion of healthy and productive corporate management.
We promote wellness and health literacy for our employees, so that they convey its importance to the society.

Results/Outputs/Impacts

1. Provision of SUMITOMO LIFE Vitality Shared-Value Insurance
Since the launch (in July 2018), we have provided more than 180,000 policies.

2. Promotion of healthier lives throughout the society (“Sumisei Vitality Action”)
By January 2019, we have invited top athletes from every field to host “parent-child sports events” in 73 places.

3. Promotion of healthy and productive corporate management.
In fiscal 2017, we’ve shortened our working hours by 2.7 percentage points.
More than 7,000 employees have got “Healthcare Master”, the qualification of health literacy.

Other sources of information

http://www.sumitomolife.co.jp/english/annual/pdf/ar2018.pdf

SDGS & Targets