about insurance sales in japan ?
Q. about insurance sales in japan ? It is widely known that many insurance sales-people in their eagerness to increase sales do not even ask applicants to provide accurate information about relevant issues. There is criticism, even within the insurance industry, that such dubious sales practices are the main factor behind the scandal. To work as an insurance sales-people, one needs to pass the certification examination of the Life Insurance Association of Japan. But this is an easy examination. And the turnover is very high in the industry. While 120,000 new sales agents were registered in fiscal 2002, about 130,000 quit in the same year. Traditionally, many sales persons leave as soon as they have sold policies to their relatives and friends. The industry needs an improved system for hiring sales reps and to ensure their compliance with strict rules. Meiji Yasuda and other insurers should lead the way in improving the recruitment and training systems. Each insurance company has a department that checks decisions to deny insurance benefits. But Meiji Yasuda ignored the complaints from policyholders filed with the department in charge. Such a system does not work unless the company's management is committed to responding to customer complaints in good faith. The insurance association also has a section to refer policyholder complaints to the insurance firms involved. But many of the association's executive positions, including chairman, are occupied by chiefs of life insurance firms. The industry cannot hope to regain consumer confidence unless it creates a really independent organization to handle such complaints. The claims-handling records of nonlife insurance firms are also less than perfect. More than 120,000 cases of denials have been found at the five biggest players in the industry over the past three years. Most of the cases involve failures to pay optional benefits, such as special cash payments for those injured and coverage for the costs of substitute cars in traffic accidents. These minor breaches should not be regarded as similar in nature to the claims denials by life insurers. But they show that the claims-processing management of nonlife insurers was quite poor although they sell more complicated products with many optional benefits. People rely on insurance when they have been hit by terrible misfortune. The revelations about unfair denials of claims have naturally deepened mistrust of the insurers. Each insurance company must make every effort to prevent a recurrence of this kind of scandal.
A. -LIke who gives a shit how the japs are doing withtheir insurance. It is about as relevent to me as the price of bulgar in IStanbul. -Insurance companies also scheme to avoid paying out claims
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