Japan is facing one of the world’s most pressing demographic challenges: an ageing population. With over 30% of its citizens aged 65 or older by 2025, the country is pioneering innovative solutions to address the critical shortage of caregivers.
Sompo Holdings, Inc., a leading Japanese insurance company, is at the forefront of this transformation as it leverages artificial intelligence (AI) to boost care quality and efficiency.
With AI, Sompo aims to alleviate the caregiver shortage. For instance, sleep measurement sensors allow caregivers to monitor residents’ sleep patterns remotely, enabling timely interventions if issues arise.
“In the past, our caregivers [had to] visit each room to check sleep status … But instead of visiting, by caregivers, we set a sensor in a bed so that we can monitor from the office,” said Mikio Okumura, Group CEO and president of Sompo.
He added that these sensors provide detailed sleep data, facilitating adjustments to meals or activities to enhance residents’ well-being.
Okumura also noted that paperwork can consume up to 25% of caregivers’ time. “We are implementing digital solutions to reduce paperwork, enabling caregivers to concentrate more on their duties,” he said.
Japan’s ageing population affects economic growth and strains healthcare and social welfare systems. Addressing these challenges requires technological innovation and policy reforms.
Sompo aims to double its profit and market capitalisation by 2030, with significant growth expected from international markets.
“By 2030, we plan to double profit, and also market cap … maybe 80% will come from Sompo P&C and 20% from Wellbeing,” Okumura stated.
However, Sompo does not plan to expand its wellbeing services overseas due to cultural and regulatory differences.
As Japan deals with demographic challenges, companies like Sompo Holdings are pioneering technological solutions. These innovations offer promise, but balancing technology with a human-centred approach is crucial for compassionate and personalised elderly care.