Sompo Holdings overview

Sompo Holdings is a holding company, created after the merge of Sompo Japan Insurance and Nipponkoa Insurance. Through its subsidiaries, Sompo Holdings offers non-life insurance products, including auto and marine, as well as life insurance. It also operates in cybersecurity, and as of 2018 has a nursing care and healthcare business, Sompo Care. The company has around 600 employees, and around 100bn yen in capital.

As of 2018, Sompo was present in over 200 cities in 30 countries and regions worldwide.

In November 2019 Palantir entered a 50-50 joint venture with Sompo Holdings, forming Palantir Technologies Japan. The $150m venture seeks to promote the security, health and wellbeing of Japanese businesses and society, and will cater primarily to the Japanese government and commercial clients.

In 2020 Sompo Holdings will transfer all overseas group companies under Sompo International Holdings. Sompo's Chief Strategy Officer Mikio Okumura will become CEO. The move is expected to help Sompo further expand its overseas business.

In June 2020, SOMPO partnered with Palantir to launch a real data platform for security, health and wellbeing, powered by Palantir Foundry. In addition to this, SOMPO will invest $500m into Palantir Technologies.

In August SOMPO partnered with health data and coaching platform startup Dacadoo to help launch Sompo's new health app Linkx Score, which will use data from exercise to predict health risks and prevent illness.

In September 2021 Israel's Planck partnered with Sompo, marking its entry into the Japanese market. The startup will help Sompo automate commercial insurance underwriting for 30 million customers with its AI-powered solution, and it's estimated to present up to $140m in annual operational expense savings.

In June 2022 Sompo partnered with Parametrix to launch a cloud crashes and downtime product. The two had previously collaborated to insure e-commerce stores. The new joint offering is designed to mitigate the risk of downtime during virtual shareholder meetings. The product has been launched with the support of Sharely which is a virtual shareholder meeting support service. The insurance will cover costs incurred if a virtual shareholder meeting is forced to be cancelled.

Also in June 2022 Sompo and real-time auto insurance provider Greater Than teamed up to run an internal PoC for a new service that integrates 'mobility and CO2 analysis beyond insurance'. Greater Than offers a real-time risk and eco score analysis, which Sompo has been utilising as part of its plans to develop new customer-centric, sustainable services for clients in the future.

Map showing the location of Sompo Holdings

Tokyo, Japan

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Key people

Koichi Narasaki Group Chief Digital Officer
John Charman CEO of Overseas Insurance and Reinsurance
Keiji Nishizawa CEO
Kengo Sakurada Group CEO
Keiji Nishizawa CEO of Domestic P&C Insurance Business.