2004 Fiscal Year Final Research Report Summary
Product Strategy of life Insurance Companies-Logic of Enterprises and Policy-holders Interests
| Project/Area Number |
15530289
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Commerce
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| Research Institution | Waseda University |
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Principal Investigator |
EZAWA Masahiko Waseda University, School of Commerce, Professor, 商学学術院・商学部, 教授 (80185115)
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| Project Period (FY) |
2003 – 2004
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| Keywords | Reduction of Assumed Rate of Interest / Adverse Difference between Assumed and Effective Rate Interests / Account-oriented Insurance Policies / One-stop Shopping / Regulation of Insurance Solicitation / Explanation of Important Contents / Improper Conversion and Replacement / Anticipated Dividend |
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| Research Abstract |
To select proper insurance policies, insurance customers must be conscious of their demand. Insurance solicitors have a role of providing exact information about insurance policies in order that insurance customers should complete informed purchases.
I presented this conceptions in the 'Symposium on Rethink on the Regulation of Insurance Sales in Japan' of the Japanese Society of Insurance Science on the 23^<rd> October 2004 at Sophia university
In the symposium three speakers treated the §300 of Japanese Insurance Business Law. It rules the prohibited behaviors of insurance solicitors
First, I explained the history of insurance solicitation regulation. Second I considered (1)Explanation of Important Contents, (2)Improper Conversion and Replacement, (3)Anticipated Dividend, as regulations regarding information provision.
As a conclusion, I insisted that we should recognize the dual construction of solicitation. One part is common to the whole Industry, which is the process of making the needs of insurance clear in qualitative (the kinds of insurance policies ) and quantitative (premium or the sum of insurance) respects. It is not connected directly with particular policies of particular companies. But it is essential to the other part of insurance solicitation, which is the sales promotion tool for their own policies. The cost of the first part solicitation should be burdened by the whole industry in common. Insurance literacy, seemingly roundabout for individual company, should be arranged fully. Moreover the systems of informed insurance purchase or replacements should be established. After all these efforts contribute to deter the increasing laps and surrenders, which are urgent difficulties to the industry.
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Research Products
(12 results)
