Suimitomo Mitsui Card Company, Limited, LIFENET INSURANCE COMPANY and LIFENET MIRAI Inc. announced that the three companies have entered into a business alliance agreement to collaborate on the online life insurance business to create customer experiences that respond to new lifestyles. In recent years, financial services for individuals have been progressing along with the advancement of digitalization, the emerging players from other industries, and so on. Various financial domains, including cashless payment, asset formation, asset management and consumer finance, are closely intertwined with each other.

Under this business environment, to keep being continuously supported and valued by customers, company believe that it is important to provide services in the optimal combination for customers based on a thorough customer-centered approach and beyond the framework of the corporate group. The alliance will leverage the strengths of the three companies: SMCC's customer base and analysis technology about huge amount of cashless data;Lifenet's expertise as an online life insurance company and know-how regarding customer experiences; and Lifenet MIRAI's insurance services development and operational support for online insurance. Company aim to provide new insurance products and services to customers using Vpass, the SMCC membership website.

The three companies will consider the provision of new insurance products, various data-driven marketing, and the joint development of digital approach tools for insurance selection online and a digital insurance store for product comparison. SMCC, Lifenet and Lifenet MIRAI will work together to provide customers with safer and more convenient digital-based customer experiences.