[IRIC Corporation] Second “Questionnaire Survey on Bank Counter Operations and Insurance Business Initiatives”
*Iric Corporation*
Press release: August 23, 2024
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Second “Questionnaire Survey on Bank Counter Services and Insurance Business Initiatives”
*Continuing to focus on single premium insurance, trends are divided for level premium insurance*
IRIC Corporation (Head Office: Bunkyo-ku, Tokyo, Representative Director: Ryuji Katsumoto, Stock Code: 7325, hereinafter referred to as the “Company”) is a company that deploys the “AS System”, a system for understanding and analyzing the current state of life insurance, to financial institutions nationwide. We would like to release some of the results of the “Questionnaire Survey on Banks’ Insurance Business Initiatives” conducted among 36 banks nationwide.
*Investigation background*
In the first “Questionnaire Survey on Bank Counter Operations and Insurance Business Initiatives” announced on June 30, 2023 last year, it was found that the degree of focus on single premium insurance and savings NISA is increasing, and that level premium insurance is also increasing. We found that while a large number of banks responded that their level of focus had increased, there were also a certain number of banks that responded that their level of focus had decreased. (Details https://
www.irrc.co.jp/pdf/press20230630.pdf )
I think there have been changes in the environment surrounding banks over the past year, such as the rise in long-term interest rates on the yen and the launch of the new NISA. We conducted a similar survey this year to find out what changes have actually occurred in bank teller operations and insurance operations.
*Survey results*
*1. Degree of focus on each evaluation item *
■Although the level of focus on foreign currency-denominated single-premium insurance is high overall, there are a certain number of banks that responded that their investment in foreign
currency-denominated single premium insurance has decreased. ■Last time, 73.7% of banks answered that the degree of focus on protection-type level premium insurance had either “increased” or “remained high,” but this has decreased to 55.6% in this survey. ■There is a similar trend for savings-type level payments, with 60.5% of banks responding that their level of focus has “increased” or “remained high” in the previous survey, but in this survey it was 52.8%.
■The focus on NISA has increased even more than last year.
*2. Percentage of banks that responded that they are implementing initiatives to strengthen level premium insurance (multiple answers allowed) *
■Continuing from last time, over 80% of banks are conducting “confirmation of insurance coverage”.
■22.2% cited “expansion of product lineup” compared to 50% in the previous survey.
It has decreased.
*3 Life plan confirmation has been added to the survey response options from 2024.
* summary*
●The level of focus on NISA has increased even more than last year. ●Although there is still a high degree of focus on foreign currency denominated single premium insurance, there were a certain number of respondents who said that the focus has decreased.
Ta. On the other hand, we have increased our focus on yen-denominated single premium insurance.
● Continuing from last year, respondents said that they are working to confirm existing insurance coverage in order to strengthen sales of level premium insurance.
There were many banks.
We will continue to investigate the environment surrounding banks and strive to provide solutions that are useful for insurance sales operations.
*Survey overview*
Number of responding banks: 36 banks
Survey method: Web questionnaire, response by email
Survey period: April 10, 2024 to May 17, 2024
Company Profile
* ■IRIC Corporation (* * https://www.irrc.co.jp/*