Sumitomo Life Insurance is considering the use of digital technologies, including generative AI, to assist its sales agents, said its President Yukinori Takada.
Recent industry scandals have highlighted the need for Japanese insurers to review how they support agents, especially regarding employee loan practices.
Mr Takada, who also chairs the Life Insurance Association of Japan, described the current period as a significant transition for insurer-agent relationships.
He made these remarks in an interview held in Bellevue, Washington, where he was attending a meeting with the heads of two of Sumitomo Life’s overseas subsidiaries.
Japanese life insurers have traditionally sent employees to assist sales agents, such as banks, in selling insurance products, reported Tech in Asia.