For many years, the role of insurance was to offer people solutions to protect themselves and the things they own (their house, their car, etc.). People were conscious that having insurance was important to make their life safer and ensure their wellbeing. However, the world is changing rapidly and the way we live has drastically evolved compared to how insurance works. Many trends impacted the role of insurance and our relationship with risk. It is fair to say that we live in safer environments with a better quality of life, hence, our need to be protected has changed.
SOMPO, a 130-year-old Japanese insurance company, foresee the need to shift how insurance operates to better connect with a new generation. Today, SOMPO offers various types of insurance solutions to more than 20 million customers around the world, but in the near future how could they engage people in a different way. Can you help imagine what the future of insurance for the younger generation is?