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Data Bank



The GIROJ has accumulated large volumes of data from its members and other sources through the business activities of the calculation of premium rates and CALI claim surveys over many years. Based on these data and expertise, the GIROJ serves as a data bank on general insurance for its members, consumers, government agencies and experts.

1. Production and provision of insurance statistics

Based on the data underlying the Reference Loss Cost Rates and Standard Full Rates, the GIROJ provides insurance statistics for members to use to develop insurance products, and discloses insurance statistics to consumers.

The GIROJ produces insurance statistics for certain types of insurance for which it has not calculated any Reference Loss Cost Rates or Standard Full Rates, based on data collected from its members, and provides those statistics to its members.

2. Research

The GIROJ collects information and conducts the research described below, providing the outcomes primarily to its members. Part of the results are used in the calculation of Reference Loss Cost Rates and Standard Full Rates.

  1. Collecting information and conducting research on insurance systems, insurance products, and trends in domestic and overseas insurance markets
  2. Collecting information and conducting research on methods of calculating pure premium rates which reflect actual risk conditions
  3. Collecting information and conducting research on accidents and related matters in order to help prevent accidents and reduce damages

Business activities related to insurance supervision and accounting systems (Solvency II, IFRS) and ERM

The GIROJ conducts business activities related to solvency regulations and ERM as part of its research activities. As in Europe and the United States, solvency regulations are reviewed in Japan at the FSA.

In response to the development of risk-based management at its member companies, the GIROJ is reviewing its ratemaking approach to make it consistent with risk-based pricing approaches and is providing information useful for risk management to its members.

3. Consulting for members

Based on its accumulated data and highly-professional expertise, the GIROJ provides the following consulting services for members in response to each member’s needs:

  1. Producing and providing insurance statistics that are useful for developing insurance products and in-depth analysis of contracts and payments
  2. Providing consultation and support associated with actuarial science and insurance policy conditions
  3. Estimating claim amounts associated with windstorms, floods and earthquakes
  4. Collecting and providing information on insurance overseas, etc.

Services related to the natural catastrophe reserve for fire insurance

Insurance companies in Japan have to use risk models to calculate statutory reserves against natural catastrophes, namely windstorms, floods and earthquakes. The FSA’s Guidelines for the Supervision of Insurance Companies describe the GIROJ risk models as examples of reasonable risk models.

The GIROJ estimates damages caused by natural disasters of certain scales using the same risk models as used for ratemaking, and provides the results to its members.

4. Disclosure and Publication

The GIROJ contributes to the promotion of knowledge on insurance by means of providing booklets outlining the ratemaking of Reference Loss Cost Rates and Standard Full Rates, the systems of earthquake insurance and automobile insurance, etc.

Active Provision of Data and Expertise

The GIROJ provides various services as below.

  • All members can use GIROJ’s reliable statistics to develop their own products. The GIROJ provides consulting services to support members’ operations.
  • The GIROJ provides detailed data to The General Insurance Association of Japan to enable them to analyze the characteristics of accidents and to conduct social activities to minimize accidents associated with general insurance.
  • The GIROJ contributes to education and training in the general insurance industry by creating textbooks and dispatching instructors for training provided by The General Insurance Institute of Japan and other organizations.
  • The GIROJ promotes understanding of general insurance by disclosing to consumers related data and information on Reference Loss Cost Rates and Standard Full Rates.

Please refer to the Disclosure and Publication.