Benefits of bundling insurance
Risks such as liability across business locations, employment practices, cargo and transportation, cybersecurity, and recalls are covered by comprehensive insurance policies tailored to each company. However, when viewed from a global perspective, most policies are not fully comprehensive due to differences in insurance regulations and applicable policy terms across countries. Risks such as fire, natural disasters, machinery, and profits are inherently covered by policies tailored to individual locations, and are often not covered by comprehensive policies even when viewed across countries or regions.
In this way, by consolidating insurance policies across different business locations and regions by type and comprehensively covering insurance for all locations, it is possible to reduce insurance premiums through economies of scale. Furthermore, it is expected that small and medium-sized businesses can be included in the comprehensive program, achieving insurance coverage under the same conditions as large businesses, and that costs can be reduced by streamlining administrative procedures related to insurance for multiple business locations. In recent years, there has been a growing trend to consolidate insurance programs into head office contracts and use them to strengthen corporate risk management.
From securities recovery to diagnosis and comprehensive program development
When creating a new comprehensive program, it is most effective for a single insurance broker to handle the entire process, from policy retrieval and risk information analysis to program design and unified negotiations with insurance companies.
Based on the knowledge and experience we have cultivated in developing global comprehensive programs for Toyota Group companies and domestic comprehensive programs for energy companies, we support customers who are looking to launch new comprehensive programs. In particular, unifying coverage conditions, preventing gaps in coverage, and avoiding duplication are essential issues, and program design and policy terminology based on solid experience are crucial.
Support for program operation and risk management system
In operating our global comprehensive program, it is essential to standardize service quality across our network of companies that actually provide services in each country. We have established a system centered around expatriates with extensive practical experience in Japan, and we cultivate and oversee the operational skills of local staff to the same level.
In particular, conducting risk assessments through our network and comparing the assessment results using the same standards (benchmarks) will not only enhance the resilience and recovery capabilities to risks at each of our overseas business locations, but will also contribute to the implementation of risk management led by headquarters.
Furthermore, by taking the lead in centralizing insurance claims for each country and region, and analyzing trends in the types, scale, and root causes of damages, we can clearly identify the risks that need to be addressed in each region and location. This supports the reduction of damage incidents on a global basis and the formulation of optimal plans for allocating management resources.