Background
AXA Life Insurance Company Ltd. is a life insurance company
with a unique character and background. It works solely in the
field of employee benefits. It was established in 1934 under
the auspices of the National Federation of Industrial
Organisations (a nationwide organisation of Japanese employers)
to introduce group life insurance and group pensions into
Japan. Since then AXA Life Insurance Company Ltd. has been a
pioneer in the area of group insurance and for over 10 years
was the only company to provide group insurance. Although now
other life insurance companies transact group insurance, AXA
Life Insurance Company Ltd. is the only company with over 60
years of experience in the field of employee benefits.
Diversified products
Although main group products in Japan are group term life (one
year renewable) and group pension (deposit administration), AXA
Life Insurance Company Ltd. has other types of products which
no other insurer provides. One is a non-participating term life
which fits the need for large amounts of life coverage which
cannot be provided by group life. Another product is medical
care insurance, which mainly provides cover for hospitalisation
and surgical operations expenses. In this area, AXA Life
Insurance Company Ltd. has the largest market share in Japan.
The total number of insureds amounts to more than 2 millions.
This product is quite helpful in supplementing the government
health insurance
Sales and Service
AXA Life Insurance Company Ltd. has a unique system in sales
and servicing of group insurance. Since it was established,
group insurance has been handled only by specialised salaried
personnel. (In other insurance companies, group insurance is
usually sold by commissioned sales-men who handle mostly
individual insurance). Because of the specialised nature of
employee benefits and the necessity of continuous service for
the employer, AXA Life Insurance Company Ltd. believes only
personnel with sufficient knowledge and experience can handle
satisfactorily this kind of business. Because of this, group
insurance of AXA Life Insurance Company Ltd. is provided only
through limited number of personnel, about 150 specialists, who
are most specialised and trained people out of 2,300 regular
employees. This number of personnel is much smaller than the
number of commissioned agents in other insurance companies
sometimes more than twenty or thirty thousands.
Designing of Group Insurance and
Pensions
Although AXA Life Insurance Company Ltd. has worked mainly for
diversified employee benefit programs of large employers, which
differs from one case to another, it also works for small
employers with same specialised skill and enthusiastic service.
In most other insurance companies group insurance and pensions
for small employers are sold by ordinary insurance agents as
ready-made and inflexible plan. In AXA Life Insurance Company
Ltd. each plan is designed and administrated to fit its
particular needs. This is why the money invested in employee
benefits taken care by AXA Life Insurance Company Ltd. can be
rewarded with the maximum appreciation by the employees.
Foreign Companies
For many years AXA Life Insurance Company Ltd. has made
thorough investigation and study on employee benefits, not only
in Japan but also in other countries of the world. Through the
co-operation with experts in various countries, AXA Life
Insurance Company Ltd. is providing excellent service for
foreign companies which other insurance companies cannot
provide. AXA Life Insurance Company Ltd. has designed and today
administers employee benefits programs for 120 foreign
companies in Japan.
