GIAJ Compliance Guidelines for Insurance Solicitation Revised
(March 7, 2016

The General Insurance Association of Japan (GIAJ) has revised the Compliance Guidelines for Insurance Solicitation, which illustrates the points to be observed by agents in an easy-to-understand and systematic manner. They serve as a reference for helping the GIAJ’s member companies to give guidance to their agents.

The update was made in order to further raise the level of distribution services in the wake of the recent revision of the Insurance Business Act and others.

In the revised guidelines, the following information has been added:

- Points for comprehending customer intent (necessary insurance cover)

- A flowchart illustrating insurance solicitation procedures

- Points for multi-representative agents regarding sales by recommendation and comparative explanation

- Points for establishing agents’ governance systems to ensure sound and proper operations

- A self-checklist for agents’ internal control environment and the appropriate conduct of sales staff