Announced details
Insurance solicitation, understanding customer intentions, product proposals, product comparison and recommendations, recordkeeping, and support for internal audits at multi-carrier insurance agencies
Joint development with Sumitomo Life and Finatext. The expertise of Singlife, an overseas subsidiary of the Sumitomo Life Group, will also be incorporated. Capital and personnel relationships: Not disclosed.
Sumitomo Life Insurance Company: Head office at 1-4-35 Shiromi, Chuo-ku, Osaka, Osaka; established in May 1907; representative: Director, Representative Executive Officer and President Takada Yukinori (高田幸徳); business: life insurance and ancillary and other businesses, Finatext: Head office at the 9th floor of Sumitomo Fudosan Kudan Building, 1-8-10 Kudan-kita, Chiyoda-ku, Tokyo; established in December 2018; representative: Representative Director and CEO Kinoshita Akane (木下あかね); business: development of financial services
In this announcement the company addresses none of Contract Value / Offering price / Impact on Business Performance.
Research by Tokyo Shoko Research (June 2018). The basis for the description "Japan's first chain of walk-in multi-carrier insurance shops" in IRRC Corporation's company overview.
| Item | Details |
|---|---|
| Names of Products / Services Covered | AS system, Finstage, Digital support solution for multi-carrier insurance agencies |
| Counterparty | Sumitomo Life Insurance Company, Finatext |
| Counterparty overview | Sumitomo Life Insurance Company: Head office at 1-4-35 Shiromi, Chuo-ku, Osaka, Osaka; established in May 1907; representative: Director, Representative Executive Officer and President Takada Yukinori (高田幸徳); business: life insurance and ancillary and other businesses, Finatext: Head office at the 9th floor of Sumitomo Fudosan Kudan Building, 1-8-10 Kudan-kita, Chiyoda-ku, Tokyo; established in December 2018; representative: Representative Director and CEO Kinoshita Akane (木下あかね); business: development of financial services |
| Relationship with the Company | Joint development with Sumitomo Life and Finatext. The expertise of Singlife, an overseas subsidiary of the Sumitomo Life Group, will also be incorporated. Capital and personnel relationships: Not disclosed. |
| Applicable area | Insurance solicitation, understanding customer intentions, product proposals, product comparison and recommendations, recordkeeping, and support for internal audits at multi-carrier insurance agencies |
| Source | Research by Tokyo Shoko Research (June 2018). The basis for the description "Japan's first chain of walk-in multi-carrier insurance shops" in IRRC Corporation's company overview. |
Items this document does not state (12)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Regulatory reforms concerning insurance solicitation require multi-carrier insurance agencies to establish more advanced solicitation management frameworks, including processes for understanding customer intentions, comparing and recommending products, fulfilling their duty to explain, and maintaining records of the solicitation process.