A Mitsui Sumitomo Health Insurance Company of America review leads to Mitsui Sumitomo Insurance Co, Ltd. Mitsui Sumitomo is a non-life insurance company headquartered in Tokyo, Japan. The company sells insurance products such as:
- Casualty insurance
They do not sell health insurance.
Mitsui Sumitomo is the largest non-life insurance company in Japan operating with over 40,000 agents and 570 branches. Their operations expand across 40 countries including the United States. Established in 1918, the company now claims profits of over 138 million yen per year in their Japanese operations and over $100 million per year in their American operations.
Mitsui Sumitomo Insurance Co, Ltd in America
Mitsui Sumitomo has a separate operating system set up in the United States. These operations are run by managers, executives, and agents that work directly for the Japanese headquarters. This means that most employees are from America while top management is Japanese executives that have relocated to American to oversee operations.
The American branch of Mitsui Sumitomo is called Mitsui Sumitomo Marine Management. The name may be confusing because it implies that the insurance that is sold in America is exclusively for marine insurance, however, this is not the case. They sell many other types of insurance as well.
When the company was established in 2009, it was established to handle shipping so the term marine was attached to the name. Since that time, the company has expanded to include commercial lines of insurance, loss control services, personal lines of coverage and loss runs. Expanding to America ensured that clients with dual residence could be well taken care of.
Mitsui Sumitomo Insurance American Products
Mitsui Sumitomo sells both individual and commercial lines of insurance. Commercial lines of insurance include:
- Commercial property insurance
- Commercial general liability insurance
- Commercial auto and fleet insurance
- Inland marine insurance
- Ocean marine insurance
- Workers compensation insurance
- Umbrella excess liability insurance
Mitsui is licensed to sell commercial insurance products in all 50 states. They also sell commercial insurance to any size business as long as there are over 50 full time employees on the payroll. Though shipping companies and other types of marine companies are still the specialty of Mitsui Sumitomo American operations, they provide commercial insurance for any type of business. Their umbrella insurance policy covers the gaps that other insurance policies may leave when it comes to litigation or other legal services.
When it comes to personal insurance, Mitsui is licensed in 40 states. The products sold include:
- Auto insurance
- Homeowners insurance
- Renters insurance
- Scheduled property insurance
- Condominium insurance
- Boat owners insurance
- Personal umbrella liability insurance
The agents that sell personal lines of insurance for Mitsui have been specially trained to match the right policy with what the needs of the individual client are.
For both individuals and businesses, Mitsui Sumitomo provides specialized services for those who have residences or businesses in both American and Japan. For these clients, Mitsui gives clients peace of mind to know that no matter what residence they are living in; their insurance needs are being taken care of.
Mitsui Sumitomo Insurance Services
In addition to insurance services, Mitsui Sumitomo also provides services to clients. One service provided to American clients is loss control services. These services relate to American laws and regulations regarding safety and loss prevention so they apply exclusively to American clients. Loss control services are meant to save both the insurance provider and the client money.
Representatives from Mitsui Sumitomo will come to any client’s business and analyze the business’ safety procedures. The more they can do to prevent claims from being filed, the lower they can keep the monthly premiums, and the more the company can save on paying out claims. It is a win-win situation for both the company and the client.
Another service provided by Mitsui Sumitomo is bilingual services. All paperwork, written communication, e-mail, and phone conversations are open to these bilingual services. This is for Japanese and English only. Since they have so many customers that live in both countries, this is a vital service to keep operations running smoothly and customers satisfied.