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  1. 1. Distribution and Consumer Value Issues Allan O’Bryant Aflac International
  2. 2. Road Map <ul><ul><ul><li>Aflac Japan Today </li></ul></ul></ul><ul><ul><ul><li>Corporate Agency System </li></ul></ul></ul><ul><ul><ul><li>Changing Customer Needs </li></ul></ul></ul><ul><ul><ul><li>Evolving Distribution Systems </li></ul></ul></ul><ul><ul><ul><li>Lessons Learned </li></ul></ul></ul>
  3. 3. No. 1 Life Insurer in Japan Policies in Force Aflac = No. 1
  4. 4. Comparison of Premium Income Growth Aflac Industry Source: Japan Institute of Life Insurance (FSA Basis, 3/00=100)
  5. 5. Corporate Agency System Aflac Parent Company Employees of Parent & Affiliated Companies Corporate Agency
  6. 6. Shrinking Worksite Market <ul><li>Decrease in number of employees due to corporate restructuring </li></ul><ul><li>Shift in employee preference in buying insurance to outside the worksite </li></ul><ul><li>Need for privacy when discussing insurance needs </li></ul>
  7. 7. Product Broadening New Business in Annualized Premium
  8. 8. Sales by Agency Type Individual Corporate Tie-Up
  9. 9. Surrender and Lapse Rates Life Industry Aflac Source: Japan Institute of Life Insurance (FSA Basis)
  10. 10. Paid Claims
  11. 11. Days Required to Pay Claims Less than 2 days on average
  12. 12. Average Premium per Policy <ul><li> Average </li></ul><ul><li> Premium </li></ul><ul><li>Aflac 52,591 </li></ul><ul><li>Top 9 life insures 154,635 </li></ul><ul><li>Life Industry 135,972 </li></ul>Source: Life Insurance Association of Japan
  13. 13. Evolving Distribution Systems <ul><li>Internet </li></ul><ul><li>Call Center & Telemarketing </li></ul><ul><li>Insurance Service Shops </li></ul><ul><li>Automated Business Writing (e-App) </li></ul>
  14. 14. Customer Voice <ul><li>Customer comments are registered into an internally shared DB. </li></ul><ul><li>Customer comments are reviewed by Customer Voice Committee and corrective actions are taken. </li></ul><ul><li>Critical issues are shared with appropriate management. </li></ul>
  15. 15. Lessons Learned <ul><li>Support the existing distribution channels when introducing a new approach. </li></ul><ul><li>Must meet customer needs. </li></ul>

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