SOMPO JAPAN RESEARCH INSTITUTE - Convergence of Finance and Insurance

In recent years, the walls between such business categories in financial services as banking, securities, and insurance have been lowered, and the convergence of financial businesses is progressing, as witnessed by the appearance of financial conglomerates. Financial conglomerates promise economies of scope and scale on one hand, but some are also placing significance on the negative aspect of risk concentration.

Convergence is also progressing between finance and insurance. Advances are occurring in the realignment of products and in distribution transcending business categories, as highlighted by the prevalence of banks selling insurance products (bancassurance) in some countries.

Furthermore, as seen in the development of alternative risk transfer (ART), the risk underwritten by insurance companies is extending from traditional insurance risk to financial risk, and it has become possible to diversify traditional insurance risk in financial and Capital Markets.

The significance of this convergence of finance and insurance in leading industrial nations is an issue worthy of examination. Rather than taking a theoretical approach, the study group will discuss issues based on case studies developed from local surveys and will examine the development of new business models for the financial services industry. In addition, it will examine the effect of the convergence of finance and insurance on the financial system and on regulatory and accounting systems.

Mariko Fujii

Professor, Research Center for Advanced Science and Technology, The University of Tokyo

Takeaki Kariya

Dean, Graduate School of Business, Meiji University
Visiting Professor, Kyoto University

Hidetaka Kawakita

Professor, Graduate School of Management, Kyoto University

Takahiro Nagata

Senior Analyst, Rating Division & Research Dept.,
Rating and Investment Information, Inc.

Futoshi Okada

Associate Professor, College of Commerce, Nihon University

Shigemitsu Sugisaki

Former Chairman, Sompo Japan Research Institute
(Study group chairman)

Teizo Taya

Special Counselor, Daiwa Institute of Research Ltd.
Professor, Rikkyo University

Noriyoshi Yanase

Associate Professor, Faculty of Business Administration, Tokyo Keizai University

Yukihiro Yasuda

Associate Professor, Faculty of Business Administration, Tokyo Keizai University

Takau Yoneyama

Professor, Graduate School of Commerce and Management, Hitotsubashi University

(in alphabetical order)

Secretariat

Atsushi Kobayashi

Chief Executive Officer, Sompo Japan Research Institute

Hidehiro Ishikawa

Executive Managing Director, Sompo Japan Research Institute

Tomohide Sunagawa

Director, General Manager, Sompo Japan Research Institute

Kenichi Ushikubo

Senior Research Officer, Sompo Japan Research Institute

Yasuo Okazaki
Senior Research Officer, Sompo Japan Research Institute
Toshifumi Kushi

Senior Research Officer, Sompo Japan Research Institute