Nippon Life Insurance Company
Nippon Life Insurance Company
521 Fifth Avenue Fifth Floor
New York City NY 10175
Nippon Life Insurance Company, also known as Nissay, is a Japanese-owned life insurance company with head offices in Osaka and Tokyo, Japan. It is one of the biggest mutual life insurance companies in the world in terms of insurance-in-force, premium income, and total assets. One of Japan’s most powerful financial institutions, Nippon Life is the first major life insurance company in Japan and currently the biggest shareholder on the Tokyo Stock Exchange. In 2009, Nippon Life marked its 120th anniversary as the life insurance company that customers continue to trust and choose.
The company’s mission is to provide consistent long-term protection regardless of changes in external environment and to keep the best interest of customers. Their goal is also to manage its business and offer services from the customer’s perspective. It functions securely and steadily from a long-term standpoint. Nippon Life also continues to strengthen equity and provides stable payout of dividends. Similarly, the company boasts of an enhanced customer service, where face-to-face consulting services is done through its sales representatives.
In the United States, Nippon Life’s home state is Des Moines, Iowa while its representative office is located in New York, New York. The company has been operating in the country for more than 18 years under the name Nippon Life Insurance Company of America. It provides competitively priced, all-inclusive employee benefits programs customized to meet the precise needs of each client. Its extensive portfolio includes medical, life, disability, dental, vision, prescription drug, and wellness programs.
Nippon Life’s products and services comprise a wide array of health benefit programs to different companies, large or small. It also offers flexible plans for the convenience of its clients. Its medical insurance includes comprehensive, reasonably priced plans for companies and their employees, while holders of dental insurance can use the plan with the dentist of their choice. Its life insurance plans provides added security for the members and their families should unforeseen events occur. Complete coverage for both short-term and long-term disability is offered in disability plans, and insurance plans for vision includes allowances for eye exams, glasses, and contacts lenses.
For prescription drugs, Nippon Life offers convenience with CVS Caremark Health Systems and its 60,000 participating pharmacies all over the country. It provides care management, utilization management, case management, and disease management solutions. The company’s Employee Assistance Program (EAP) supplies the means and materials to assist employees in living their lives to the healthiest. Nippon Life’s wellness programs are customized solutions that lend a hand in enhancing organizational health while assisting employees in improving their personal health and well-being.
Nippon Life possesses top-notch financial strength and stability with over 300,000 corporate customers, 10 million policyholders, and an asset of ¥21.38 trillion or US $148.74 billion. In the U.S., Nippon Life has a total asset of $157,903,691 and national premium of $215,345,131 as of December 2009. It is rated A- or excellent from A.M. Best.
The company has 95, 223 employees worldwide headed by overall chairman Ikuo Uno and overall president Kunie Okamoto. Akira Hosoda leads the company as president in its U.S. operations, with George Francis McCartney as secretary and Ryu Hihara as treasurer.