Sharing global innovation insights
Innovation -
As part of a leading global network, TAL has access to exclusive innovation insights that will shape our future. We’re looking forward to sharing these insights with you more frequently moving forward.
TAL is part of the Dai-ichi Life Group, which has a strong and ongoing commitment to innovation with dedicated innovation teams in Tokyo and established innovation labs in Silicon Valley and London. In 2021, Dai-ichi Life established the Dai-ichi Life Innovation Fund to foster an organisation-wide innovation mindset and provide flexible funding for innovative ideas. From across the network of Dai-ichi Life Group companies, employees are encouraged to submit their ideas for funding consideration.
What is the Dai-ichi Life Innovation Fund?
The Dai-ichi Life Innovation Fund aims to empower people from across our global organisation with the resources, knowledge and funding they need to reimagine their individual markets, and the wider insurance industry.
The Dai-ichi Life Innovation Fund is split into two separate funding mechanisms:
- The pre-seed fund aims to support innovators in the test and learn phase. This fund looks for early-stage concepts that require customer validation.
- The seed fund focuses on empowering innovators to build and scale. This fund looks for developed ideas that have been validated by users and are ready for substantial expansion.
Since the Dai-ichi Life Innovation Fund’s inception in 2021, there have been 13 funding rounds completed with over 80 ideas submitted and 40 ideas funded.
Which TAL ideas have received funding so far?
TAL has successfully received funding for six ideas with the combined value of $2.1M USD. One example is Health Scout, which uses simple and evidence-based surveys to raise members’ awareness of health blind spots. By engaging and educating members, it encourages holistic health screenings to help members maintain good health, with practical and relevant recommendations to empower members to take actions that will have a positive impact on their lives. Health Scout is inclusive and available to all members. It’s completely free to use with no sign-up or membership required.
Which companies are involved?
TAL collaborates with companies from across the Dai-ichi Life Group including:- Dai-ichi Life (Japan)
- Protective Life (USA)
- Partners Life (NZ)
- Star Union Dai-ichi (India)
- Dai-ichi Life (Vietnam)
- Dai-ichi Life (Cambodia)
- Dai-ichi Life (Myanmar)
- Dai-ichi Life Innovation Lab (Silicon Valley)
Throughout the year, there are many opportunities for innovation-focused global collaboration. This includes the quarterly Global Innovation Leaders’ Summit, a bi-annual Global Collaboration Forum that focuses on a specific innovation theme, and fortnightly forums attended by representatives across the Dai-ichi Life group to discuss and coordinate innovation activities. There is also have a learning and development program for Dai-ichi Life’s global innovation leaders and a dedicated online platform for sharing insights and ideas.
Can a fund suggest an idea for funding?
As we continue to evolve our innovation program, we look forward to collaborating with our superannuation fund partners to pitch ideas for possible future funding. We will keep you updated as opportunities arise.
Our innovation championHuyen Penny joined TAL in 2022 in the newly created role of Health Program Manager. In this role, Huyen and her team work with our superannuation fund partners to support the health and wellbeing of members. In April this year Huyen commenced a secondment to the Dai-ichi Life Innovation Fund as a Global Innovation Consultant. In this role, Huyen works as a conduit between Dai-ichi Life global companies and TAL with the aim to educate, create awareness and amplify the group’s global innovation activities. |
Please reach out to your Partnership Manager for more information on TAL’s innovation approach.