Sompo Holdings Uses AI to Transform Nursing Care in Japan

Sompo Holdings, Inc., a major Japanese insurance company, is leveraging artificial intelligence to address the labor shortage in nursing care due to the aging population in Japan. CEO Mikio Okumura emphasized how AI and technology are being used to enhance healthcare services, such as using sensors to monitor patients' sleep without direct caregiver involvement. This innovation aims to reduce the time spent on paperwork, allowing caregivers to focus more on patient care. For context, Japan's elderly population reached a record 36.25 million in 2024, while the birth rate hit an all-time low, reaching only 700,000 new births in the same year.

Sompo announced a restructuring plan in February that consolidates its business units, with an increased focus on its property and casualty insurance branch, anticipating significant growth, particularly in international markets. By 2030, Sompo plans to double its profits, projecting that 80% will come from property and casualty, with only 20% from wellbeing. Okumura noted that while Japanese demographic trends pose challenges, international expansion is viewed as the key growth strategy. However, he clarified that Sompo will not extend its wellbeing services overseas due to varying cultural and regulatory environments.