News Release

ORIX Life Receives IT Award for Business Transformation that Makes Effective Use of IT

Nov 25, 2020

TOKYO, Japan - November 25, 2020 - ORIX Life Insurance Corporation (“ORIX Life”) announced today that it has received the IT Award*1 in the Customer and Business Function category at the FY2020 Information Technology Awards, which are hosted by the Japan Institute of Information Technology (“JIIT”).

ORIX Life is in possession of more than 4.5 million in-force personal insurance contracts and keep expanding its business. As a result, the number of calls it receives at its call centers has been increasing on a yearly basis, and the company has been engaged in efforts to improve the productivity of its call response work processes. The IT Award is recognition of the fact that ORIX Life has established a new system for its call centers, and improved both the quality and efficiency of its call responses.

ORIX Life’s call centers previously used 10 kinds of systems according to each work process, including inquiring about contract information, entering customer contact histories, etc. These processes have now been consolidated into a new single system with a UX design*2: the screen layout and the positioning of various information has been informed by the flow of a call response; this has resulted in reductions to both administrative errors made by operators, and to time spent on administrative work.

Apart from working on large-scale improvements, ORIX Life has also established an IT-based problem-solving system aimed to respond detailed requests from various business departments rapidly. This initiative has led to the company also receiving the IT Encouragement Award*3. More specifically, ORIX Life has created a problem-solving team comprising employees from various sections of its IT department; these employees possess expert knowledge in different fields and, by combining their expertise in a cross-departmental manner, ORIX Life has created a system capable of providing solutions to all manner of problems in a one-stop and speedy manner.

Going forward, by improving and optimizing its business processes, and by refining the services, ORIX Life will seek to become the insurance company chosen by customers.

*1 The IT Awards are conferred by JIIT on companies, organizations, institutions, and individuals that have made remarkable efforts and succeeded in realizing “business transformations that make effective use of IT.” A list of award recipients is available on the JIIT website (in Japanese): https://www.jiit.or.jp/im/award.html Open Link in New Window
*2 “UX design” is an abbreviation of “User Experience design.” It refers to the process of designing user-centric products through the provision of easy-to-use, useful, and attractive product interactions.
*3 The IT Encouragement Awards are conferred by JIIT on companies whose initiatives demonstrate promise and the potential for future development.

Contact Information:
ORIX Corporation
Corporate Planning Department
Tel: +81-3-3435-3121

About ORIX:
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.
Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 37 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of March 31, 2020)

Caution Concerning Forward Looking Statements:
These documents May contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under “Risk Factors” in the Company’s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under “(4) Risk Factors” of the “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2019 – March 31, 2020.”

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