#Japan #Tokyo #Insurance Agency #Iric Corporation #Nissay IT

Partnership Overview

In a significant move for the insurance sector, Iric Corporation, based in Bunkyo, Tokyo, and Nissay Information Technology (Nissay IT), headquartered in Ota, Tokyo, have announced their collaboration to leverage their respective strengths in system development for the insurance agency market. This strategic alliance aims to navigate the transformative changes faced by the industry, particularly in response to regulatory revisions, advances in digital technologies, and shifts towards online customer engagements.

Context of the Collaboration

The insurance agency sector is currently grappling with various challenges: adapting to changes in insurance laws, integrating advanced AI and other digital tools, shifting customer engagement online, and evolving revenue models. As a result, there’s a pressing need for agencies to reassess and enhance their operational processes. For years, Nissay IT has provided foundational business systems through its package software, INPLUS WEDGE, while Iric Corporation has supported front-line operations with its AS SYSTEM/AS-BOX solutions. With the landscape shifting rapidly, both companies have decided to combine their expertise and customer bases to foster innovation in insurance agency operations.

Features of Each System

Iric Corporation: AS SYSTEM/AS-BOX

The AS SYSTEM/AS-BOX solution allows insurance agencies to conduct comprehensive product comparisons among multiple insurance providers. By generating a 'product comparison sheet' structured in a uniform format, agencies can easily highlight differences to their clients, facilitating informed decisions. The system incorporates features for tracking client intentions and managing historical data efficiently. Additionally, it supports insurance certificate analysis by consolidating multiple policies into a single 'certificate analysis sheet,' providing a clear visual representation of benefits, drawbacks, and estimated total premiums.

NISSAY IT: INPLUS WEDGE

Designed specifically for multi-line insurance agencies, INPLUS WEDGE serves as a centralized management system that organizes crucial information—including customer interactions, activity logs, project data, applications, contracts, and performance metrics—by client. This comprehensive management capability empowers agencies to promote data-driven operations, enhancing their ability to identify targets, visualize potential opportunities, and monitor overall business performance.

Future Prospects

Looking ahead, Iric Corporation and Nissay IT plan to work closely to develop system solutions tailored to the diverse needs of insurance agencies. Their collaboration is set to drive not only the improvement of operational efficiencies for agencies but also support digital transformation across the insurance industry.

About the Collaborating Companies

Iric Corporation

With a robust database and extensive experience in insurance solutions, Iric Corporation operates the insurance shop ‘Hoken Clinic.’ It aims to harmonize the interests of customers, insurance companies, and agencies, thus accelerating the digital transformation of the insurance industry as a pioneer in ‘People × Insurance × Technology.’

NISSAY IT

As a company spearheading the IT strategy for Nippon Life, Nissay IT has been committed to exploring and implementing advanced technologies since its inception. The firm plays a crucial role in propelling the growth of the insurance, mutual aid, pension, and healthcare sectors through its wealth of operational knowledge and cutting-edge IT capabilities, participating from the conceptual phase of system development to the implementation of consulting services tailored to client needs.

Company Details

Iric Corporation

• - Website: Iric Corporation
• - Securities Code: 7325
• - Headquarters: 2-27-20 Hongo, Bunkyo-ku, Tokyo
• - Established: July 1995
• - CEO: Ryuji Katsumoto
• - Capital: 1.35478 billion yen

Nissay Information Technology

• - Website: Nissay IT
• - Headquarters: 5-37-1 Kamata, Ota-ku, Tokyo
• - Established: July 1999
• - CEO: Kazuya Kishi
• - Services: Includes insurance, finance systems, healthcare systems, and more.

By harnessing the power of technology, both companies aim to revolutionize how insurance products are distributed, ultimately assisting individuals in securing their futures effectively in an age where living to 100 becomes the norm.