MS&AD Insurance Group Holdings has partnered with convenience store chain Seven-Eleven to sell life insurance products in Japan.
The partnership enables MS&AD to sell its life insurance through stores, avoid face-to-face sales amid Covid-19 outbreak, reported Asian Review.
Customers will be able to share the required information through multi-function machines in Seven-Eleven’s 20,000 stores and pay the policy fee at the store’s cashier.
They will be also able to preregister for the insurance using their smartphones or PCs beforehand, the report said,
Starting this month, Seven-Eleven and MS&AD’s affiliate Mitsui Sumitomo Aioi Life Insurance will start the sale of cancer insurance at the stores. The monthly insurance fee is reportedly set at several thousand yen.
Mitsui Sumitomo Aioi Life Insurance is said to sign around 300,000 new personal insurance contracts each year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
MS&AD usually sells life insurance through its staff who engages face-to-face with customers. Since the outbreak of Covid-19, insurance companies are resorting to more safe and innovative ways to reach out to the customers.
According to the reports, Seven-Eleven and MS&AD are planning to launch call centres to support the customers and to ensure the quality of services offered by insurance shops.
These call centres will employ licensed insurance sales staff to talk to customers 24 hours a day, around the year.
Seven-Eleven anticipates achieving around 60,000 new contracts by next year March.