ExaWizards enters into a business partnership with Aflac Life For collaboration for the promotion of digital transformation in the insurance business and entire company and development of new businesses.
–It has raised funds from Aflac Ventures LLC.–
ExaWizards Inc., a company that develops AI-enabled services to solve social issues (headquartered in Minato-ku, Tokyo; Ko Ishiyama, President & CEO; hereinafter referred to as ExaWizards) announces a business partnership with Aflac Life Insurance Japan Ltd. (headquartered in Shinjuku-ku, Tokyo; Masatoshi Koide, President and Representative Director, hereinafter referred to as Aflac Life). Also, it raised one billion yen in total from two companies including Aflac Ventures LLC through capital increase through third-party allocation to Aflac Ventures LLC via Aflac Innovation Partners G.K. (headquartered in Minato-ku, Tokyo; Tomoyuki Shimada, Managing Director).
☑︎ Background and objectives: For mutual utilization of business assets of Aflac Life and knowledge in AI technologies and digital transformation of ExaWizards
ExaWizards has utilized AI technologies to solve issues of each department of a company and company-wide issues in line with the corporate mission of “Solving social issues through Artificial Intelligence for future generations,” developed AI products for a wide range of fields such as nursing care, healthcare, HR, robot, financial, and camera and made them commercially available to solve issues of industries identified on the basis of issues of individual companies as well as issues of the entire society.
Through the business partnership, to strengthen Aflac Life’s digital transformation strategy “DX@Aflac”(*1), the two companies will aim for digital transformation in the insurance field and make a joint effort to create new businesses and develop services by mutually utilizing Aflac Life’s abundant amount of data in the insurance field and business assets such as the customer base and ExaWizards’ technological and business development capabilities and knowledge in developing human resources in the digital field.
While helping many companies introduce AI technologies and promote digital transformation, ExaWizards has focused on support for developing human resources who take leadership roles in promoting digital transformation and assisted Aflac Life to achieve a goal of spreading the data-driven culture to the entire company. ExaWizards, by using HR-Kun DIA(*2), an assessment tool for the development of human resources for digital transformation it provides for companies, has helped Aflac Life develop human resources through data analysis training and practical follow-up targeted at data ambassadors selected among the insurance company’s staff from departments all over Japan. Additionally, ExaWizards has provided support for Aflac Life’s company-wide digital transformation, for example, through the assistance of implementing a use case to solve business issues.
In 2021, to further promote Aflac Life’s company-wide digital transformation, ExaWizards will make efforts to foster the digital transformation culture and develop human resources who promote digital transformation through the support for developing more data ambassadors and aim for the development of data analysis and AI-based predictive models to solve business issues in a wide range of fields and the joint development of new services in the insurance field.
(*1) For details, please refer to the news release “Establishment of Digital Transformation Strategy (DX＠Aflac).” https://www.aflac.co.jp/news_pdf/20200923.pdf
(*2) ExaWizards’ assessment tool utilizing AI technologies that calculates scores of “digital” and “innovative” capabilities essential for the implementation and the promotion of digital transformation through an online test. It allows an organization to understand the level of being a digital innovator and provides a training course about skills necessary for the promotion of digital transformation based on the test results. https://www.hrkun.com/dia/
☑︎ Overview of partnership with Aflac Life—Reforming insurance business and exploring new fields through the promotion of digital transformation
(1) Strengthening Aflac Life’s digital transformation strategy, DX@Aflac
To promote Aflac Life’s company-wide digital transformation, we will provide valuable products and services for customers by utilizing digital technologies through the development of data ambassadors, support for sales activities utilizing AI technologies, and development of data analysis and AI-based predictive models to solve a wide range of business issues among others.
(2) Exploring new fields
To achieve Aflac Life’s goal of product development and business activities through business partnership across industries as well as ExaWizards’ goal of solving social issues with the support of AI technologies, we will combine the advantages of the two companies and promote the creation of new joint ventures.
☑︎ Overview of investment from Aflac Ventures LLC
Investor: Aflac Ventures LLC (Parent company: Aflac Incorporated; headquartered in North Carolina, U.S.A.; established in September 2016; representative: Nadeem Khan)
Investment amount: 500 million yen
☑︎ Comments from two companies
Tohru Futami: Director, First Senior Vice President, and CDIO of Aflac Life Insurance Japan Ltd.
To become the leading company for creating “living in your own way,” Aflac established its “digital transformation strategy (DX＠Aflac)” and has accelerated its initiative for digital transformation. As part of its efforts to strengthen the initiative, Aflac entered into a business partnership with ExaWizards having high technological capabilities and abundant experiences and expertise in solving issues and business development utilizing AI technologies. Through the partnership, we will enhance our data utilization further and create and provide new value for our five big stakeholders: our customers, business partners, employees, shareholders, and the society.
Ko Ishiyama: President & CEO of ExaWizards Inc.
To solve social issues by utilizing AI technologies, ExaWizards has helped many companies introduce AI technologies and promote digital transformation and developed AI-based services that will be potentially widely used in the entire society. Through the partnership with Aflac Life Insurance Japan Ltd. and Aflac Ventures LLC, we will accelerate the business expansion further and focus more on our efforts to solve social issues. Also, we will assist the implementation of “DX@Aflac” by utilizing our technological and business development capabilities and promote the utilization of digital technologies by companies and the society.