Delivering new value through AI beyond providing insurance, becoming the company most chosen by our customers
Tomoyuki Motoyama
Executive Officer
Group CDO (DX Promotion)
Insurance companies utilize AI to analyze weather big data, enabling highly accurate forecasts of damage from torrential rains and landslides weeks in advance. Each customer residing in the area at risk receives personalized optimal evacuation routes and action guidelines delivered to their smartphones or wearable devices. Insurance claims after a disaster are instantly assessed using drone-captured data, and payouts are completed on the same day—that future is just around the corner. As an insurance company, we are called upon to take the lead in building and providing this society marked by “peace of mind created by AI.” In recent years, alongside the increase in natural catastrophes brought on by climate change, risks surrounding communities and society, such as aging infrastructure and the diversification of cyber risks, are becoming more complex and severe at an unprecedented pace. Under these circumstances, it is not enough to merely provide coverage and handle claims. We will maximize the use of cutting-edge digital technologies such as generative AI to build a society that detects signs early and proactively takes optimal action. This will not only provide peace of mind for our customers but also contribute to enhancing the resilience of society.
For the near term, we envision a world where each customer has their own dedicated AI agent, fundamentally transforming the customer experience surrounding insurance policies. When customers consider purchasing insurance, for example, a dedicated AI agent proposes the optimal coverage plan. Should an accident occur, the agent assists with accident reporting and various procedures. In addition, for customers who wish to receive insurance proposals from agents, an AI agent designed to support agent sales can also present the most suitable products to the agent.
We aim to exponentially enhance the customer experience related to insurance policies by integrating AI into various aspects of our business processes. We will swiftly introduce AI technology in three particularly impactful areas to enhance operational efficiency.
Through start-up investment activities by MS&AD Ventures*1, our CVC based in Silicon Valley, and research activities at the Aioi R&D Lab-Oxford*2, we are creating new businesses that contribute to business growth by quickly interacting with AI and other cutting-edge business models and technologies that have the potential to transform society in a variety of areas.
We are working to strengthen our profitability by developing new solutions that leverage our Group’s assets, such as our customer base, channels, and brands, and by creating new businesses through entry into new markets.
Through such activities, we will drive the transformation of our business and risk portfolio while accelerating the value creation that contributes to solving social challenges.
*1 CVC (Corporate Venture Capital) was established in 2018 as the first such organization by a Japanese insurance group in Silicon Valley.
*2 A joint research institute jointly established by ADI and Mind Foundry Ltd., an AI start-up of the University of Oxford, to conduct research-and-development activities related to cutting-edge technology and science
MS&AD ventures is the first corporate venture capital of Japanese insurance company. We are investing in and creating new businesses with startups in Silicon Valley, where there is a lot of potential for businesses that can change the world, with the expectation that they will contribute to the operations of the MS&AD Insurance Group companies.
To achieve effective AI deployment, it is essential to advance both the development and acquisition of AI professionals as two key pillars. AI professionals include “AI business professionals” who possess expertise in both business operations and AI, enabling them to create use cases and drive transformation, and “AI engineer professionals” who possess technical expertise in AI and perform model building, implementation, and operation. We will strategically advance the development and acquisition of these human assets.
The Group has already achieved the goal of developing 7,000 digital human assets set forth in our current Medium-Term Management Plan and currently employs approximately 8,500 digital resources. We aim to cultivate digital human assets as candidates for the next generation of professional AI human assets who leverage AI to deliver new value to our customers.
