The General Insurance Association of Japan (GIAJ) is advancing an industry-wide system to assess the quality of insurance agency operations, its Chairman Shinichiro Funabiki has revealed. The objective is to improve insurance sales practices.
In a statement outlining the GIAJ's policies and initiatives in response to current trends and developments, he said that the framework, currently in trial use, includes evaluation guidelines, self-inspections, and follow-up reviews, with full implementation expected in fiscal 2026. A new reporting system has also been introduced to flag inappropriate practices early.
Mr Funabiki said restoring public trust remains a top priority for GIAJ, focussing on strengthening customer-centric practices and ensuring a fair competitive environment.
He also revealed that the GIAJ plans to launch a Corporate Risk Management Advancement Support Programme next fiscal year, which commences on 1 April 2026. The programme will consolidate existing initiatives such as seminars and tools. It also intends to introduce a training course to develop risk management professionals, open to both corporate staff and industry participants.
Separately, he said GIAJ is responding to regulatory changes, including revisions to supervisory guidelines and amendments to the Insurance Business Act, which will take effect on 1 June. These include stricter requirements for large agencies and expanded restrictions on special benefits. The association said insurers must align with these changes and continue efforts to rebuild trust.
He said natural disasters linked to climate change are becoming more frequent and severe and the insurance industry must continue promoting risk awareness, supporting disaster prevention, and ensuring timely claims payments.
Mr Funabiki also underlined that economic pressures, geopolitical tensions and global uncertainty are affecting both individuals and businesses, making it critical for the industry to function effectively as a risk bearer.