INTERVIEW: Sumitomo Life to Mull Using AI Tech to Support Sales Agents

Bellevue, Washington, Oct. 18 (Jiji Press)–Sumitomo Life Insurance Co. will consider using digital technologies including generative artificial intelligence to support its sales agents, Yukinori Takada, president of the Japanese insurer, said in a recent interview with Jiji Press.

The comment followed a series of scandals in the industry that called into question the relationships between life insurance companies and their sales agents and highlighted the need to review the practice of supporting agents by dispatching employees on loan.

Takada, also chairman of the Life Insurance Association of Japan, said, “We are currently in a major turning point” for building appropriate relationships with sales agents.

The interview was held in Bellevue in the U.S. state of Washington, where Takada attended a two-day meeting with the heads of two overseas subsidiaries of Sumitomo Life through Thursday.

Japanese life insurance companies have dispatched employees to their sales agents such as banks to provide support in selling their insurance products.

[Copyright The Jiji Press, Ltd.]