Risk of Business Interruption Due to System Failures and Cyberattacks
First written in FY2017. 2 of 5 entries say "Materialised", first in FY2023-Q1. Latest entry: FY2024.
Daiichi Life Group moved to the "Worse" side of this theme in 2022, 3 years before the typical company in this theme (2025).
5 other companies' latest entry also says "Materialised".
- FY2024MaterialisedAnnual report
「For example, in September 2023, errors were found in figures such as the value of new business, and published figures in supplementary earnings materials and securities reports were corrected.」
The previously recognized system and information-processing risk newly materialized as errors in figures such as the value of new business and corrections to published materials. - FY2023-Q2RestatedAnnual report
「For example, an online system failure occurred at Dai-ichi Life in June 2022, affecting the processing of insurance claims and benefit payments, among other operations, until the system was restored. If risks related to cyberattacks or system failures materialize, including in incidents of this kind, they could lead to other serious consequences, such as damage to the Group's reputation, customer dissatisfaction and a loss of customer trust, and could also result in an increase in cancellations of existing contracts, a decline in sales of new contracts and administrative sanctions.」
The Company continued to disclose the online system failure in June 2022 and its impact on payment processing, and explicitly stated the potential consequences upon materialization, including cancellations, sales declines and administrative sanctions. - FY2023-Q1MaterialisedAnnual report
「For example, an online system failure occurred at Dai-ichi Life in June 2022, affecting the processing of insurance claims and benefit payments, among other operations, until the system was restored.」
The system failure risk previously envisaged materialized as Dai-ichi Life's online system failure, affecting the processing of insurance claims and benefit payments, among other operations, until restoration. - FY2020MitigatedAnnual report
「The Group is promoting the development of a group IT governance framework based on COBIT5 in order to stably support its globally operated group management and provide sustained value to customers worldwide.」
In response to the risk of system failures and cyberattacks, the Group advanced the development of group IT governance based on COBIT5, meetings of IT officers and a basic cybersecurity policy, among other measures. - FY2017First statedAnnual report
「The Group's information systems could fail to function due to factors including accidents, fires, natural disasters, power outages, concentrated user activity, human error, sabotage, hacking, employee misconduct, software or hardware bugs or malfunctions, virus infections, intrusion into networks, adverse effects on the internet as a whole, and failures of facilities, software or networks.」
The Group disclosed its dependence on systems for managing insurance contracts, making payments, collecting premiums and managing assets, as well as the possibility of business interruption caused by failures, hacking and other events.