Marsh Japan’s Policy on Customer Oriented Business Conduct

The Marsh Group (Marsh & McLennan Companies), established in 1871 in the United States as an insurance intermediary and risk management and consulting company, has provided services in countries around the world for more than 100 years. Marsh Japan was established as an insurance agency in 1955.

We have long conducted business in accordance with The Greater Good and Our Policies, statements of the Marsh Group’s global ethics and code of conduct, and we adopted the Principles for Customer-Oriented Business Conduct announced by the Financial Services Agency on March 30, 2017, announcing to all customers, stakeholders, and society as a whole our Policy on Customer-Oriented Business Conduct.

1. Establishment and Announcement of the Policy and Customer-Oriented Business Conduct

As an insurance agency that arranges insurance policies requested by customers pursuant to agency agreements with insurance companies and as a consultant that provides consulting services primarily on risk management, we have made customer-oriented business conduct a principle and policy of all of our business, and we periodically announce the status of related measures. The formulation of business policies is based on The Greater Good (our code of conduct), referenced above. In order to carry out customer-oriented business conduct, we periodically review policies and revise them in response to changes in laws and regulations or the social environment.

2. Maximization of Customer Benefit

To provide high quality services to customers, we continuously carry out education and training to enhance  the skills and specialization of insurance solicitors while developing and researching personnel programs and internal systems to maintain high levels of work ethics. Through these types of programs, we develop a corporate culture where each staff member has an awareness as a professional insurance solicitor and risk management consultant of carrying out business that maximizes customer benefit.

3. Appropriate Management of Conflicts of Interest

We comply with laws and regulations as well as the guidelines of insurance companies and implement appropriate business management and practices to ensure that conflicts of interests do not harm customer interests.

4. Clarification and Transparency of Compensation

We provide explanations so that customers understand the services for which they pay insurance premiums and service fees as consideration.

5. Provision of Information that Customers Can Understand

We actively endeavor to explain and provide material information necessary for customers to make determinations and decisions as well as information that they should know in a manner that customers can easily understand. Furthermore, in light of the possibility of information asymmetries between us and customers in areas where we have specialized knowledge, we provide straightforward and accurate information to the greatest extent possible.

6. Provision of Services Appropriate for Customers

To properly provide the insurance products and services that customers request, we appropriately determine customer intentions based on reasonable need, compare and recommend insurance products and services, and confirm that the insurance products and services we recommend suit the customer’s intentions before entering into contracts. This series of acts is required of insurance solicitors by the Insurance Business Act, and we perform comprehensive training and management to ensure that insurance solicitors conduct business properly.

7. Appropriate Motivation of Employees through Compensation Programs, Evaluation Systems, and Training

We adopted the employee conduct policies set forth below and have established performance evaluation systems, compensation programs, and educational support and training programs in accordance with those policies. Each program is periodically reviewed by the Marsh Group and Marsh Japan management to ensure that they enhance skills and specialization of staff members as professional insurance solicitors and risk management consultants that can prove worthy of the trust placed in them by customers.

Business Conduct Policies

1. Take the initiative in acquiring information and knowledge and value relationships with customers. Constantly maintain interest in events occurring around the world and matters related to customers, build relationships through dialogue, and search for more appropriate solutions for customers.

2. Build relationships with customers based on trust. Express your honest opinions, encourage others to do the same, engage in constructive dialogue when there is opposition, and do not hesitate to voice new ideas and proposals.

3. Pursue optimal results and act flexibly and promptly. Understand the degree of urgency needed, make decisions that you believe are optimal, and pursue the results you believe are best.

4. Open yourself to diverse ideas, experiences, and backgrounds and encounter them with respect. Listen to the opinions of others and actively evaluate and accept their participation and contributions.

5. Act in good faith and ethically towards others and continuously build mutual trust. Take responsibility for your promises and duties and value fairness.

6. Be aware of your roles as a member of the company as well as a member of society, always be conscious of Marsh Group ethics and the Code of Conduct, and actively provide opportunities for learning and improvement to others.