FP Partner
Basic Information
- Stock Code
- 7388
- Industry
- Insurance
- Category Detail
- Insurance
- Prefecture
- Tokyo
- Establishment Year
- December 2009
- Listing Year
- September 2022
- Official Website
- https://fpp.jp/
- TSE Information
- TSE Information
- Yahoo! Finance
- Yahoo! Finance
- Other Companies
- Axia, Agent Insurance Group, Nihon Sokken, Chuo International Group, Iric Corporation, Broadmind, Advance Create, BeWith, Hourai, Ooba
Overview
FP Partner is the largest door-to-door insurance agency established in 2009, also engaging in financial product intermediation and banking agency business, and expanding a wide range of financial services as a growing company.
Current Situation
FP Partner achieved net sales of approximately ¥30.6 billion and operating profit of ¥5.5 billion in the fiscal year ending November 2023, employing over 2,300 insurance solicitors as the largest door-to-door joint insurance agency. Centered on its flagship brand 'Money Doctor,' it handles a wide range of life and non-life insurance, providing financial planning services to individual and corporate customers. In recent years, following investigations by the Financial Services Agency and media reports pointing out issues in business operations, it is promoting compliance enhancement and overhaul of internal management systems. After listing on the Tokyo Stock Exchange Growth Market in 2022, it transitioned to the Prime Market in 2023 to enhance corporate value. Moving forward, it aims to restore trust while diversifying its revenue base through IT utilization for sales efficiency improvement and expansion of new financial products. It is also focusing on expanding its customer base and talent development to strengthen competitiveness in the financial industry. A key feature is its commitment to sustainable management, customer-oriented service provision, and thorough compliance with laws and regulations.
Trivia
Interesting Facts
- Established in 2009, relatively new but rapidly grown to become the largest door-to-door insurance agency.
- Established unique position as a rare door-to-door joint insurance agency in the industry.
- Representative Director Tsutomu Kuroki has been involved in management since founding.
- 'Money Doctor' is a widely recognized brand nationwide.
- Exceeded 2,300 salespeople in 2023, boasting industry-top personnel scale.
- Achieved market category change from TSE Growth to Prime.
- Drew attention from FSA investigation but promptly addressing improvements.
- Reported increase in solicitor turnover, but efforts underway to improve.
- Proclaims proactive corporate culture for legal compliance and internal controls.
- Deploys wide-ranging services combining financial intermediation and banking agency.
- Self-develops IT-based sales support systems.
- Focuses on door-to-door efficiency, incorporating online consultations.
- Emphasizes face-to-face counseling over advertising or PR.
- Focuses on cultivating financial planners within the financial industry.
- Faced issue reports in media but prepared to take legal action if needed.
Hidden Connections
- Collaborates with major non-life insurers, receiving sales staff recruitment support.
- Media reports raised suspicions of insurance allocation structures similar to former Big Motor issues.
- Related firms BeWith and Advance Create are both competitors and collaborators.
- Holds unique compensation system in door-to-door agency sector, drawing market attention.
- FSA responses may influence future regulatory easing or tightening.
- Financial intermediation business serves as differentiation from competitors.
- Enhancing transparency as listed company and local base collaborations.
- Marketing strategies backed by extensive customer database.
Future Outlook
Growth Drivers
- Expansion trend in door-to-door insurance agency market
- Growth in financial intermediation business and revenue diversification
- Sales efficiency gains from IT and online consultations
- Strengthened recruitment of new solicitors and sales talent
- Trust recovery via compliance and internal management strengthening
- Increasing demand for corporate insurance and financial services
- Growing insurance needs amid aging society
- Rising social interest in financial education and customer asset building
- Brand value enhancement through sustainable management
- Flexible response to diversifying customer needs
Strategic Goals
- Maintain top domestic share as door-to-door agency
- Establish hybrid online and door-to-door sales model
- Achieve annual net sales of ¥50 billion
- Build 3,000-solicitor organization
- Realize high customer satisfaction and full compliance
- Reach 30% sales ratio for financial intermediation
- Promote automation of sales support via IT systems
- Establish zero legal risk framework
- Improve social evaluation through sustainability metrics
- Enhance brand power via strengthened local community ties
Business Segments
Insurance Agency Services
- Overview
- Provides insurance agency operations and sales support connecting insurance companies and customers.
- Competitiveness
- Extensive solicitor network as the largest door-to-door sales operator
- Customers
-
- Life insurance companies
- Non-life insurance companies
- Financial institutions
- Small and medium-sized enterprises
- Sole proprietors
- Real estate companies
- Automobile dealerships
- Care service providers
- Construction contractors
- FP training institutions
- Products
-
- Insurance product intermediation
- Solicitor training support
- Sales support services
- Prospect referrals
- Compliance guidance
- Digital system provision
- Contract management systems
- Insurance consulting
- Customer information management
- Customer satisfaction surveys
Financial Product Intermediation and Banking Agency
- Overview
- Handles intermediation of diverse financial products and banking services.
- Competitiveness
- High-quality proposals by specialized financial planners
- Customers
-
- Individual investors
- Corporate customers
- Banks and financial institutions
- Asset management companies
- Insurance companies
- Consulting firms
- Securities firms
- Real estate companies
- Products
-
- Investment trust sales
- Pension insurance intermediation
- Bank loan products
- Asset building support
- Asset management consulting
- Financial education services
- Risk management proposals
- Asset succession planning
IT and System Provision
- Overview
- Provides IT systems for sales efficiency and management enhancement.
- Competitiveness
- Business efficiency through proprietary door-to-door sales management system
- Customers
-
- In-house solicitors
- Insurance companies
- Financial institutions
- Agency chains
- Products
-
- Sales support tools
- Contract management systems
- Customer databases
- Marketing analysis tools
- Compliance audit tools
Competitive Advantage
Strengths
- Nation's largest door-to-door sales network
- Wide lineup of insurance products
- Robust financial planner training system
- Brand power of 'Money Doctor'
- Fundraising capabilities through listing
- Sales support system via IT
- Composite business of financial intermediation and banking agency
- Diverse and expandable customer base
- Rapid market response capability
- Compliance enhancement initiatives
- Employee expertise and training system
- Regionally rooted service provision
- Rich customer data utilization
- Flexible product proposal capability
- Stable financial foundation
Competitive Advantages
- Industry-leading position as door-to-door agency
- One-stop provision of diverse insurance and financial products
- Customer-close services by specialist FPs
- Sales efficiency via advanced IT utilization
- Reliability and transparency as listed company
- Numerous sales bases and solicitors nationwide
- Product design capability for broad customer segments
- Diversified revenue base through enriched corporate services
- Thorough risk management via compliance strengthening
- Expanded collaborations with affiliates like Axel Real Estate
- Differentiation through high-function sales support systems
- Balance of stable funding and growth investments
- Customer acquisition power via enhanced brand recognition
- Rapid legal compliance response
- Advanced talent development and low turnover challenges
Threats
- Intensified audits and guidance from FSA and regulators
- Risk of declining public trust in door-to-door sales
- Fierce competition for insurance solicitors from rivals
- Brand image decline due to negative publicity
- Interest rate fluctuation risks in financial markets
- Increased business constraints from legal amendments
- Intensifying competition in non-life and life insurance sectors
- Changing customer needs due to aging population
- IT security risks and data leak concerns
- Potential decline in insurance sales during economic downturns
- Labor shortages from training difficulties
- Increased sales difficulty from rising customer financial literacy
Innovations
2024: Sales Support System Overhaul
- Overview
- Completely renewed proprietary sales support system to promote efficiency.
- Impact
- 20% improvement in solicitor productivity
2023: Launch of Online Consultation Service
- Overview
- Introduced online financial planning as a non-visit customer touchpoint.
- Impact
- Expanded customer contacts and strengthened approach to younger demographics
2023: Compliance Enhancement Project
- Overview
- Promoted overhaul of compliance framework and introduction of training programs.
- Impact
- Reduced regulatory feedback and improved internal awareness
2022: Introduction of AI-Driven Customer Analysis
- Overview
- Implemented risk analysis and sales strategy optimization using customer data.
- Impact
- Improved contract rates and risk reduction
Sustainability
- Strengthened customer information protection framework
- Promotion of employee work-life balance
- Financial literacy support for local communities
- Internal awareness activities for reducing environmental impact
- Thorough fair customer handling and product explanations