Tokyo – Meiji Yasuda Life Insurance Company and Accenture have announced a revolutionary multi-year partnership to transform the insurance business by integrating artificial intelligence. The deal is for up to March 2030 and centers on deploying AI-powered digital assistants to improve workforce productivity and innovation.
Hideki Nagashima, president and group CEO of Meiji Yasuda Life Insurance Company said, “Under the 10-year plan ‘MY Mutual Way 2030’, we set our vision as being ‘The most accessible, industry-leading life insurer capable of ‘Wellness for People’, ‘Vitality for Communities’. To achieve this, we believe it is essential to integrate people with digital technologies to drive digital transformation effectively.”
“We are committed to create and provide value that goes beyond the role of a life insurance company by leveraging digital technology and enhancing human potential in critical areas, such as contributing to the improvement of healthcare and QOL and vitalizing regional communities. Partnering with Accenture, which possesses unparalleled expertise in digital technology and business reinvention, including generative AI, we will focus on ‘product development’ through the company-wide implementation of advanced technologies and ‘people development’ through practical talent cultivation.”
The partnership has proven beneficial, as MY Paintbox, an AI-powered digital assistant serving 36,000 salespeople in Japan, has been introduced. It studies customer history, preferences, and local events to enhance communications strategies targeting customers and improve service delivery.
“Meiji Yasuda’s initiatives are innovative in that they integrate human roles with digital technologies to provide new value beyond the traditional functions of the company. Together, Meiji Yasuda to maximize the potential of its people and it exemplifies the ideal model of a sustainable company in Japan, where innovation-driven improvement in labor productivity is urgently required amid declining birthrates and an aging population. We look forward to partnering with them on this journey,” remarks Atsushi Egawa, CEO, of Accenture, Japan, and Co-CEO, of Asia Pacific.
This initiative aims at creating a data-driven management platform through generative AI and agentic AI technologies. It also gives Accenture the business process to establish an organization-wide training program for developing digital and AI skills, to cultivate 300 future leaders to drive long-term innovation.
Accenture and the Meiji Yasuda Life Insurance Company are working together through the Accenture Center for Advanced AI, mixing the company’s data solutions with its domain expertise and ecosystem partnerships to support a complete digital transformation at Meiji Yasuda. This is seen as an initial step in improving Japan’s insurance industry, exactly as technology should address the continuous issues caused by an aging generation and decreasing birth rate in Japan.
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