With “a resilient and sustainable society” as our vision for society by 2030, the Group is promoting various initiatives toward Creating Shared Value (CSV) with society using the SDGs as a guide. In order to solve social issues through our business, it is essential for each Group employee to deepen their understanding of CSV and the SDGs. From 2018, the Sustainability Contest, which aims to raise awareness among employees, are yearly held to recognize outstanding initiative in CSV through proposals and initiatives that lead to solutions on social issues.
Third contest in 2020 found 354 submissions from all over the world. Submissions included proposals for initiatives on social issues that have emerged since the pandemic, such as the increasing need for a contactless customer environment and a rise in remote work. Proposals were evaluated from five aspects, namely; social impact, communication, value creation, approach, and prospect. Six winners were announced at the contest with one, selected through an online vote by Group executives, taking the grand prize.
[Grand Prize Winner]
The livestock industry is facing problems with trying to improve productivity and the working environment on the back of a huge increase in the lack of foreign workers because of the pandemic and a critically aging population. Mitsui Sumitomo Insurance, in cooperation with Japan’s public agricultural insurance scheme, has developed an insurance product that compensates farmers for livestock veterinary fees not otherwise covered by public insurance. In partnership with Desamis Co., Ltd., a company which works to solve the problems faced by livestock farmers through IoT solutions, Mitsui Sumitomo Insurance has provided a completely new and unprecedented service by integrating an insurance product with farmers’ cattle management systems using Desamis’ advanced technology. IoT sensors on the cows monitor the cattle’s health 24 hours a day so that any appropriate treatment can be administered in good time thereby helping to reduce cattle mortality rates. The insurance also helps to stabilize farmers’ businesses and prevents losses by covering excess payments on public agricultural insurance.
Furthermore, the insurance solves long-standing problems in the livestock industry including improving the working environment for veterinarians nationwide by drastically reducing nonessential and nonurgent callouts.
The Sustainability Contest helps employees to develop a ‘sustainability’ mindset and raises awareness of linking their daily work with CSV. We will continue to tackle social issues by creating new business models and sharing success cases with the entire Group through the Sustainability Contest, for creating a virtuous cycle of commonly practiced sustainable initiatives within the Group.