Financial Situation and Business Strategies of Nissay Dowa General Insurance December 12, 2007
Ⅰ． Measures for business quality reform Ⅱ． Financial Review of Interim Closing at Sept. 30, 2007 and Forecast for FY 2007 Ⅲ . Progress of measures for achieving the managerial goal
Towards Business Quality Reform “All efforts targeted at regaining the trust of our customers” “All efforts targeted at regaining the trust of our customers” Key initiatives for regaining the trust of our Improving insurance claim Simplifying products and services Improving insurance claim Simplifying products and services Improving insurance claim payment services payment services payment services Reviewing all Reviewing all processes from processes from solicitation, solicitation, Strengthening governance Strengthening governance customers underwriting to underwriting to payment payment Enhancing the quality of Enhancing the quality of Enhancing the quality of Reinforcing compliance; Reinforcing compliance; insurance soliciting activities insurance soliciting activities insurance soliciting activities incorporating feedback from incorporating feedback from customers and external parties customers and external parties Significantly increasing systems development and personnel Significantly increasing systems development and personnel 3
Reforming Insurance Claim Payment Services Reforming the quality of claims payment services Reforming the quality of claims payment services FY2006 FY2007 Apr. 2006 Claims Payment Services Department (Specialist management and supervision of operational framework relating to insurance claim payments) Improving and reviewing Claims Payment Service Examination Committee Oct. 2006 payment services (Subsequent examination of payments, chaired by outside lawyer) Adding staff to claims payment 1,184 staff 1,450 staff (+ 266) department Improving system Early payment acceleration system Cross-category claim checking system capabilities Reviewing New “Policy Details Guidelines” produced Oct. 2006 customer (Explanation of types and details of claims payable upon contact points notification of insured events) Reviewing Apr.2007 Business Quality Reform Committee governance May 2006 Product Review PT/ Operational (Extensive examination of all processes from and Quality Improvement Committee solicitation to payment) products (Major reviews of products and supplementary contracts) 4
Reforming Solicitation Quality Completion of policy checking activities Completion of policy checking activities Reforming agent operational processes Reforming agent operational processes Completion of policy checking activities Reforming agent operational processes Expanding the functionality of Expanding the functionality of FY2006 FY2007 FY2008 FY2006 FY2007 FY2008 online agent systems online agent systems Completed Completed Policy Policy Apr. Mar. Apr. Mar. Fire Fire Fire inspection inspection Agent Quality Improvement Guidelines [Policy] [Policy] Securing agents capable of ensuring Securing agents capable of ensuring Completed Completed Personal- Personal- Personal- customer satisfaction and adapting to customer satisfaction and adapting to Jul. Jun. Jul. Jun. Accident Accident Accident changes in the industry environment changes in the industry environment Miscellaneous Miscellaneous Miscellaneous Introducing action programs to improve Introducing action programs to improve the quality of agent operations and the quality of agent operations and Completed Completed promoting e-learning Voluntary- Voluntary- promoting e-learning Voluntary- Jul. Aug. Jul. Aug. Automobile Automobile Automobile Expanding our agent support Expanding our agent support infrastructure infrastructure Advance implementation Policy details printed out in advance Policy details printed out in advance Improving the quality of Policy Details Including standard automobile equipment for Including standard automobile equipment for agent operations Check Form reference purposes reference purposes 5
Simplifying Products & Services and Strengthening Governance First half of FY2007 FY2006 First half of FY2007 FY2006 ο Setting out a review policy ο Setting out a review policy ο Examination via Product ο Examination via Product ・ Number of core products: 11 ⇒ 5 ・ Number of core products: 11 ⇒ 5 Review PT and Operational Review PT and Operational Easy-to- Easy-to- Number of supplementary contracts: approx. 500 ⇒ approx. 240 Number of supplementary contracts: approx. 500 ⇒ approx. 240 Quality Improvement Quality Improvement understand, understand, ・ ・ Integrating home fire insurance into “Home Pitatto” insurance Committee Integrating home fire insurance into “Home Pitatto” insurance Committee approachable Simplifying approachable ・ Simplifying terms and conditions and standardizing provisions Simplifying ・ Simplifying terms and conditions and standardizing provisions products products ο Launch of long-term ο Launch of long-term across categories products and across categories products and ο Launching of new passenger insurance“Tosho Wide” automobile insurance (“Long”) automobile insurance (“Long”) services services ο Narrowing down tertiary products ο Revising policy papers to make ο Revising policy papers to make Improving services Improving services ο Improving agents’ online capabilities ο Improving agents’ online capabilities them easier to view and and simplifying them easier to view and and simplifying ο Expanding cashless services ο Expanding cashless services understand procedures understand procedures ο Establishing a Legal Compliance Department to exclusively ο Establishing a Legal Compliance Department to exclusively handle compliance ο Compliance and Risk handle compliance ο Compliance and Risk Reinforcing Reinforcing Reinforcing Reinforcing ο Establishing a Solicitation Quality Reform Department to ο Establishing a Solicitation Quality Reform Department to compliance Management Department Management Department compliance compliance compliance promote compliance as part of solicitation activities promote compliance as part of solicitation activities ο Broadening the definition of complaints, improving ο Broadening the definition of complaints, improving ο Customer Feedback ο Customer Feedback complaints handling and disclosing information Feedback from Feedback from complaints handling and disclosing information Utilizing customer Utilizing customer Subcommittee ο Increasing the scope of examinations by the Tertiary Insurance Subcommittee ο Increasing the scope of examinations by the Tertiary Insurance customers and feedback and feedback and customers and ο Claims Payment Service ο Claims Payment Service Examination Committee and releasing examination results Examination Committee and releasing examination results external external external parties ο Increasing the scope of handling unacceptable rulings (re- external parties ο Increasing the scope of handling unacceptable rulings (re- Examination Committee Examination Committee viewpoints viewpoints ο Handling unacceptable rulings ο Handling unacceptable rulings examination of tertiary insurance) examination of tertiary insurance) Adding external ο Increased to four (June 2007) Adding external ο Increased to four (June 2007) ο Three ο Three directors directors ο Promoting initiatives centered around the Business Quality ο Promoting initiatives centered around the Business Quality ο Operational Quality ο Operational Quality Strengthening Strengthening Strengthening Strengthening Reform Committee (chaired by the President) Reform Committee (chaired by the President) management structure Improvement Committee management structure Improvement Committee governance governance ο Increased to 24-person structure (July 2007) ο Increased to 24-person structure (July 2007) Strengthening Strengthening ο 17-person structure ο 17-person structure internal auditing ο Implementing audits with no notice (once a year) internal auditing ο Implementing audits with no notice (once a year) ο Audits with notice ο Audits with notice structure structure 6
Ⅰ． Measures for business quality reform Ⅱ． Financial Review of Interim Closing at Sept. 30, 2007 and Forecast for FY 2007 Ⅲ .Progress of measures for achieving the managerial goal
Financial Highlights Direct net premiums written totaled 174.9 billion yen, an increase of 400 million yen (0.3%). Net premiums written meanwhile were down by 1.4 billion yen (0.9%) to 159.7 billion yen. Despite the underwriting balance ratio being down by 5.4 percentage points on the previous year due to an elevated loss ratio, investment results remained healthy, with current income up 100 million yen to 6.9 billion yen. Net income was 4.6 billion yen. Increase/ Sept. 2006 Sept. 2007 Decrease 174.4 174.9 Direct net premiums written (Billion yen) 0.4 （ Growth rate (%) ） （ 2.0 ） （ 0.3 ） 161.2 159.7 Net premiums written (Billion yen) ▲ 1.4 （ Growth rate (%) ） （ 1.2 ） （ ▲ 0.9 ） Net expense ratio (%/P) 32.0 32.0 0.0 58.7 64.1 +5.4 Net loss ratio (%/P) ▲ 5.4 Underwriting balance ratio (%/P) 9.3 3.9 Current income (Billion yen) 6.7 6.9 0.1 4.5 4.6 0.1 Net income (Billion yen) 8
Recommend
More recommend
