Tackling Issues in Aging Societies / Promoting Safe and Healthy Lifestyle
Measures to create a society where elderly people can live without worry is an important issue in Japan’s aging society. ORIX contributes to solving various problems faced by the aging society through automobile business, financial services for retail, etc. Further, with the declining birthrate and aging of the population, the reliability of the social security system for the future is under scrutiny. We provide products and services that are prepared to cope with money and health concerns through our life insurance and preventive medicine businesses, contributing to the realization of a safe and healthy lifestyle.
Tackling Issues in Aging Societies
Telematics services: Monitoring services for elderly drivers
ORIX Auto launched Ever Drive in February 2017. This driving monitoring service uses telematics technology to reduce accident risk for families with elderly drivers.
The proportion of elderly people involved in fatal accidents has been increasing year by year. The goal of this service is to identify the signs of dangerous driving by visualizing the driving of seniors. The service uses a specialized device mounted in the vehicle of the driver the family wishes to monitor. It provides the family with real-time information on driving behavior, including excessive speed and sudden acceleration and braking. ORIX Auto began offering the e-Telematics service to corporate customers in 2006 and leveraged this expertise in developing Ever Drive. Other supplementary driver support services include health consultations with doctors and nurses, a test to check cognitive function, and on-site support in the event of an emergency while on the road. In addition, visualizing senior driver behavior makes noticing changes in behavior due to dementia or other issues easier. From fiscal 2018, the telematics service was adopted by Okayama Prefecture’s Safe Driving Monitoring Project, and Ever Drive devices were installed in 150 and 195 senior-driver vehicles in Okayama Prefecture in fiscal 2018 and 2019 respectively; the service was used both to gather driving data and to research changes in attitudes to safe driving. In the future, we intend to analyze various data we accumulate to develop services that help prevent accidents involving elderly drivers.
We will also share big data collected via our e-Telematics and Ever Drive services with local governments, police, universities and research institutes, hospitals and nursing care facilities to help realize an accident-free motorized society.
Japan's first mail-order will substitute "Simple inheritance trust"
ORIX Bank offers products that respond to growing interest in relation to inheritance issues.
"Simple inheritance trust" is a product that distributes funds previously deposited from the customer to the pre-designated beneficiary.
This product is a non-face-to-face service that completes contracts and other processes by post and by phone, and it is possible to receive funds smoothly with minimal procedures such as posting certain documents at the time of inheritance.
“Family Trust Support Service”—preparing for dementia
In Japan, greater longevity has also brought about an “aging” of financial assets, as the proportion of personal assets held by the elderly continues to grow. At the same time, indications are that by 2025, one in five people aged 65 years and older will develop dementia*, and creating measures to maintain and manage an individual’s property in the face of declining cognitive function has become a major issue.
ORIX Bank’s Family Trust Support Service provides support for the establishment of family trusts, in preparation for a decline in competency due to dementia or other conditions, and a resulting loss in decision-making abilities. ORIX Bank meets customers to listen to their concerns about asset management and asset succession, and suggests plans tailored to individual customer needs.
ORIX Bank also provides real estate loans for investment that correspond to family trusts.
- Source: Cabinet Office, Annual Report on the Aging Society, 2017
Promoting a safe and healthy lifestyle
Life insurance business that addresses diverse needs
ORIX Life Insurance strives to research and develop new products so that we can provide optimal insurance according to our customers’ needs, and we have a breadth of products lined up.
Sales Channels: We provide products through the 4 channels.
|Agency sales||We provide various products to our customers through three types of stores. Insurance specialized stores handling not only life insurance but also damage insurance, stores for face-to-face dealings located near train stations and large shopping centers, and tax expertise stores to provide consultations with specialist knowledge about tax, which make a total of 5,415 stores (as of the end of March 2020)|
|Sales by financial institutions||Offered at approximately 6,400 branches (as of the end of March 2020) such as city banks, regional banks and credit unions.|
|Mail order||Sales via mail and internet.|
|Face to face sales by employees||From 2016, ORIX Life Insurance's sales representative conserve advisers are providing face-to-face sales. It is meant to complement other sales channels, and provide consultations to customers.|
Agencies：support for partner agencies.
ORIX Life Insurance supports sales and other activities of partner agencies. Our sales representatives provide advice for making better proposals to customers of our business partners, and follow-up on insurance claims and benefit claim procedures. In addition, we regularly host gatherings with local distributers to share relevant information about new products, life insurance, laws and regulations.
In addition, we have set up an "agent help desk" to respond to inquiries from distributors, and support operations not only on weekdays but also on weekends.
Customer satisfaction: seeking to realize customer-oriented business operations.
All company executives act in a manner that prioritizes the customer; in order to implement customer-oriented reforms or create new customer-oriented services, we have adopted the following stance:
We are also continually seeking to improve the printed materials we publish for our customers;
we received the UCDA Award—the most prestigious prize at the Universal Communication Design Association-sponsored UCDA Awards—three years in a row in 2016, 2017, and 2018, and we are increasing the convenience of customer procedures.
We provide an "inheritance support service" to customers who have subscribed to our insurance. Customers can call the experienced inheritance specialists free of charge by phone about procedures and questions that are tailored to individual customers. For a fee, customers can request a tax accountant, judicial scrivener, or administrative scrivener to perform the inheritance procedure on their behalf. This service aims to support smooth inheritance procedures in the unlikely event of a customer or family member, reduce the time required for the procedure, and eliminate anxiety. This service is provided through Brain Trust Co., Ltd.
Preventive medicine support
As the first medical mobile service company in Japan, FREEILL contributes to a wide range of regional medical services by offering rental services for vehicles equipped with advanced diagnostic imaging system including MRI and CT scanners.
We provide rental for a minimum of 2 hours with the necessary technical support (photography by a technician/ analysis by a radiologist) according to the requirements of the place, time and duration. At medical institutions, advanced diagnostic imaging can be provided to patients without the need for investing in new facilities or specialists, and can be used as a substitute when certain equipment cannot be used due to pending device updates or version upgrades. For enterprises and local governments, it is possible to provide brain lung check-ups etc. on mobile check-up facilities located at designated places. This not only improves the examination rate but also reduces costs through gathering all patients (and visitors) to one check-up facility and making large-scale commissions.
With growing awareness on transitioning from treatment to preventative care in order to reduce medical expenses, the mobile screening facility for companies and health insurance associations are utilized to meet the health management needs of companies.