Tokio Marine Group Business Strategy
The Purpose Story of Tokio Marine Group
The Group’s Purpose is to protect our customers and society in times of need. Since our foundation in 1879, Tokio Marine Group has provided a sense of safety and security to our customers and society while working to solve the biggest social issues of each era and support the development of society. We do this by leveraging the knowledge and experience we have gained through 145 years in the insurance business to develop unique products and solutions that evolve as new risks and social issues emerge.
By always staying aligned with this purpose we have been able to deliver sustainable growth as a business while contributing to creating a safe, secure and sustainable future.
Tokio Marine Group Value Creation Approach
With our Purpose as our foundation, we will bolster our human, intellectual, and social capital and create a cycle of business activities and solutions to address social issues, and continue to grow for the next 100 years.
Our Long-term Aspiration 2035
To become a Partner that continuously provides innovative solutions” to the issues / risks of our customers and society
In addition to providing best fit “Insurance” products to issues / risks of customers and society to protect customers and society “in times of need”, we will provide “Solutions” that contribute to “Prevention / Recovery fields” and “Well-being”, to “always” support them.
Tokio Marine Group Mid-Term Plan 2026 ~ Inspiring confidence. Accelerating progress. ~
Group Core Strategies
Global Risk Diversification
Tokio Marine Group has spent more than 15 years working to expand its insurance business overseas where there is low correlation with domestic P&C insurance, through M&A. In our new mid-term plan, we will continue promote "Global risk diversification" to manage the volatile business environment.
Global Integrated Group Management
“Global integrated group management”, which started in 2016, is steadily progressing, as seen in the appointment and contribution of diverse international talents in top management positions. In our new mid-term plan, we will continue promote “Global integrated group management” to further enhance the quality, accuracy, and speed of management decisions.
Christopher Williams
Chairman of International Business
Donald Sherman
Vice President Executive Officer
Co-CIO
Brad Irick
Managing Executive Officer
Co-Head of Int’l Business
Susan Rivera
Managing Executive Officer
Co-CRSO
Jose Adalberto Ferrara
Executive Officers
TMSR CEO
John Glomb
Executive Officers
PHLY CEO
Caryn Angelson
Executive Officers
Group CDIO
Randy Rinicella
Deputy CLCO
Gus Aivaliotis
Deputy CDO
Robert Pick
Deputy CITO
Barry Cook
Deputy CRSO
Dawn Miller
Deputy CAO
Daniel Thomas
Senior General Manager
Risk Management
Daljitt Barn
Senior General Manager
Underwriting
Group Major Strategies
"3 Pillars" of "Growth"
Drastic Expansion of Domains Where We Can Deliver Our Value
Tokio Marine Group will develop provide best fit “Insurance” products and promote new "Solutions" business other than insurance to address the growing and increasingly complex issues / risks faced by our customers and society.
Tokio Marine Resilience
Tokio Marine Group views natural disasters (disaster prevention / mitigation) as a critical social issue. As well as supporting customers and local communities by paying claims, we also provide products and services that contribute to safety and security before and after disasters, this reflects our purpose of “protecting our customers and societies in their time of need”.
Tokio Marine Smart Mobility
Tokio Marine Smart Mobility will deliver cutting-edge solutions that support the growth of our commercial customers by mitigating risks and avoidable costs associated with transportation and logistics, including improving working environments, strengthening the ability to adapt to external factors such as environmental issues and automated driving, and has the goal to contribute to the improvement of productivity of our customers.
Evolution of Insurance Business
In order to solve social issues that have emerged in recent years, Tokio Marine Group will continue to evolve the “value of its core insurance business” by underwriting new risks and providing supplementary insurance services.
Providing 24/7 professional support services for the ever-increasing number of cyber risk problems and accidents as an adjunct to “Cyber Insurance" (From April 2022)
"Photovoltaic power generation-related insurance" packaged with a system for installing photovoltaic power generation equipment without initial costs (Photovoltaic Power Generation PPA model) (From November 2021)
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Tokio Marine Group is the only company in the insurance industry in Japan to be included in the “Health & Productivity Stock Selection” for eight consecutive years (FY2023).
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Leveraging this achievement, we support the health management of our corporate clients, resulting in strong sales of "disability insurance*".
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*Insurance for companies and organizations that compensates for employee work-related accident risk, unemployment risk, medical care and nursing care risk, and so on.
In response to the increase in corporate bankruptcies due to the pandemic and inflation, Tokio Marine Group launched “Insurance against the risk of bad debts on accounts receivable” focused on small and medium business customers. (From January 2023)
Based on the requirements and needs of customers and local communities, Tokio Marine Group will focus on “disaster prevention / mitigation,” “supply chain management,” and “infrastructure and facility maintenance” as key themes for resilience enhancement. We will plan and promote new insurance products and solutions by utilizing the Tokio Marine Group's sales platform to contribute to the improvement of our clients resilience.
Diversification of Distribution Model
Tokio Marine Group will establish and expand highly specialized distribution networks as well as strengthen and upgrade embedded / direct distribution models.
Utilization of Tokio Marine X
Established digital small-amount short-term insurance company that can flexibly provide optimal products for embedded insurance.
Collaboration with Bolttech
Created a new process for purchasing insurance using the bolttech platform used in 30 countries.
Collaboration with Finatext
Created a new fully digitalized process for purchasing insurance using SaaS-type system provided by Finatext.
Extensive Improvement of Productivity
In order to create time for employees to “focus on domains where we can deliver value,” we are working to thoroughly improve productivity and efficiency in all existing business processes through digital investments and use of generative AI.
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Developed own proprietary security-conscious ChatGPT that enables the input of confidential information.
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Aim to improve productivity by utilizing ChatGPT in information search and extraction, document making, and so on.
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Developed own interactive AI that specializes in insurance and has learned product rules and service contracts.
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Aim to reduce the amount of paperwork by having an interactive AI support employee inquiries and responses on the coverage of insurance products and purchase procedures.
"2 Pillars" of "Discipline"
Strengthening and Improvement of Internal Control / Governance
Further enhancement of governance at Group-level is set as one of key strategies in the new mid-term plan and will be executed rigorously through the newly established “Group Audit Committee” and by fully utilizing external perspectives. We will also strengthen direct instruction / supervision by Tokio Marine Holdings for domestic and international entities and further develop Global integrated group management.
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Continue recruitment / development of experts for risk management, legal & compliance, internal audit etc., and promote further utilization across group companies.
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Consolidation of governance functions such as the second and third lines of group companies for further direct instruction / supervision by TMHD.
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Enhancement of direct audit by TMHD (conducted as necessary from FY2024).
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Completed the formulation of action plans after evaluating the framework of each group company, and in the process of monitoring its progress. Promote enhancement of group companies’ framework thorough the PDCA cycle.
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Established “Group Audit Committee” in April 2024. External members including the Chair comprise majority of the Committee
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Utilize “external perspectives” to review the appropriateness of our business process, culture etc.
Enhancement of Business Portfolio and Capital Management
In our new mid-term plan, we will continue to aim for world's top-class EPS growth and lift the level of ROE equivalent to our global peers through outstanding underwriting and asset management in each region and the implementation of a disciplined capital policy (capital management cycle).
KPI Target
(CAGR from FY2023)
(CAGR from FY2023)
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