CEO INTERVIEW
PGA Sompo is looking to expand the accessibility of insurance services led by digital services and embedded insurance services
The life-changing ‘crash’ of PGA Sompo’s CEO that sparked an interest in insurance
How a car accident propelled Fumihiko Harada to a career in the insurance industry.
I
t took driving his self-modified car off a cliff and crashing down an embankment during his university days for Fumihiko Harada, PGA Sompo Insurance Corporation Director/President and CEO, to decide to pursue a career in insurance. Talking with Insurance Asia, Harada-san, amusedly explained that during his university days, he had a part-time job that involved modifying second-hand vehicles, which he tried to do with his own car. But because the modifications he did were not fit for his car, he got into an accident that propelled his car straight off a cliff. Fortunately, he was fine, but the car was another story as it was a total wreck. However, even though his car was completely destroyed, he managed to recuperate the losses because it was insured. “I never realised the importance of the non-life insurance industry before so that situation was an eyeopener for me, that insurance is something that can help people. And that is the reason why I started my career in insurance.” Harada-san said. 14 INSURANCE ASIA
I never realised the importance of non-life insurance before, so that situation was an eye-opener for me
A hands-on approach Harada-san, who is now based in Manila, typically starts his day by catching up on what is happening with their customers, the industry, and the country. He then proceeds to talk with department heads, personally seeing that everything is working smoothly. “I’m more of a hands-on guy. Since our office is smaller compared to other offices, it’s easier to change the direction of the company and to manage everything because it’s just one office,” Harada-san said. In his 28 years of experience in the general insurance industry, 16 years were spent working outside of Japan, China, Hong Kong, and SOMPO’s regional headquarters in Singapore. Harada-san has already worked with nine SOMPO subsidiaries in South Asia and Oceania before becoming the president and CEO of the PGA Sompo in the Philippines in 2016. “Despite having knowledge of the industry, the dynamics of day-to-day local operations are different, especially in managing teams through cross-cultural communications. It requires hands-on experience and
