Introducing Sompo Light Vortex
Japanese insurance group SOMPO Holdings announced a new subsidiary by the name of Sompo Light Vortex . The Tokyo-based company will launch next month and will plan, develop and sell products and services “using digital technology.”
The news follows the insurer’s establishment of its Digital Strategy Planning Department in Tokyo and Silicon Valley back in 2016, and another subsidiary in Tel Aviv in 2018.
It has also been forming alliances (investment, partnership, and M&A) with partners such as startups with digital technologies in order to promote digital transformation within the Group and create new digital businesses.
“The SOMPO Group has recognized opportunities to expand sales of digital solutions to outside parties in the future and set “creation of new customer value” as one of its primary strategies in its Mid-Term Management Plan (FY2021-2023). In order to further strengthen the creation of attractive content for customers by commercializing the digital domain, we have decided to establish a subsidiary, subject to the approval of relevant authorities.”