Mitsui Sumitomo, a subsidiary of MS&AD Insurance Group, has established digital hubs in Tokyo and Singapore.
The creation of Global Digital Hubs (GDH) is part of the company’s global digitalisation efforts.
The Singapore hub, established on 1 February, will be used by the insurer to support digital initiatives across Asean’s markets.
It will gather information on digital technology; promote open innovation with business partners and start-ups; and enhance digitalisation initiatives amongst employees and agents.
The Tokyo hub, which was established last week, will be used to enhance the understanding of digitalisation among agents and employees and experiment with new business ideas, the company said in a statement.
“Tokyo will be the innovation epicentre of MSI to find new ways of adding value to clients through the use of digital technology and big data,” the statement added.
Furthermore, the insurer aims to develop new products and services that will help address social issues and contribute to society as per the UN’s Sustainable Development Goals by collaborating with start-ups.
In July last year, Mitsui Sumitomo Insurance Company Europe (MSIEU) signed strategic alliance agreements with ICEA LION General Insurance Company in Kenya, and International Commercial and Engineering Seguros (ICE) in Mozambique to bolster its network in Africa.