Researchers are increasingly analyzing climate change’s impact on morbidity and mortality rates, in some cases focusing on how climate change relates to specific medical conditions. Life and health insurers also are beginning to undertake such analysis. Climate change could have a major impact on Japanese life insurers’ earnings models. Life and health insurers need to build a data platform to amass data and leading-edge knowledge.

With the amended Act on Promoting the Protection of Personal Information fully in effect and a new economic national security law enacted last year, Japan now has an updated suite of GRC-related legislation in place. A recent NRI survey sheds light on how global financial institutions are approaching GRC in terms of developing tools, building organizations and reassessing key risks.