INTERVIEW: Sumitomo Life Targets 5 M. “Vitality” Policyholders in 5 Years

Tokyo, Dec. 30 (Jiji Press)–Sumitomo Life Insurance Co. aims to double membership of its flagship health-promotion insurance program, Vitality, to 5 million over the next five years, banking on a new related asset-building product to drive this growth, President Yukinori Takada said in a recent interview. Takada said the company plans to launch the new Vitality-linked asset-building product in January 2026, designed to combine incentives for healthy behavior with long-term financial preparation. The new product, dubbed “Dollar-Tsumi Vitality,” uses premiums paid monthly and reward coins earned through activities such as exercise and comprehensive medical checkups as capital for investment in dollar-denominated assets. The insurer aims to capture rising demand for asset formation driven by rising interest rates. Takada said developing the product took three years because of the complexity of its design. Sumitomo Life Insurance also plans to use the new product as a gateway to steer customers toward conventional protection-focused policies, including medical and life insurance, to strengthen profitability. The launch of the new product will be “a major opportunity for further expanding (our protection-oriented products as well),” Takada said. END [Copyright The Jiji Press, Ltd.]