Japanese life insurers facing a number of scandals involving their staff are now planning to make changes to their external transfer policies, said a report in the Japan Times.
Four major Japanese life insurers - Nippon Life, Meiji Yasuda Life and Sumitomo Life and Dai-ichi Life will stop transfer of employees to agents and banks on loan. This follows a number of recent scandals involving such workers, who leaked rival insurers' customer information. In another case, a Nippon Life employee who was on loan at MUFG Bank shared internal bank information with sales staff at the insurance firm.
These insurers are considering abolishing the practice as early as April 2026, whereas transfers to divisions that are not related to insurance sales will not be affected.