Asian Financial Services

by Wenli Yuan, September 28, 2016
Industry Trends
Asia-Pacific

Abstract

Celent has released a new report titled Are Asia-Pacific Insurers Ready for the Internet of Things? And Should They Be? The report was written by Wenli Yuan, senior analyst in Celent’s Asian Financial Services practice.

Based on a survey of Celent’s Asia Insurance Research Panel, this report focuses on uses of the Internet of Things (IoT) by insurers in Asia.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

Introduction

3

Senior Management’s View: How Important Is the IoT?

4

Who Is Tracking IoT Readiness?

5

Technological Readiness

6

 

Auto Business

7

 

Non-Auto Lines

8

 

Develop or Buy

10

Current and Future Value in Key Processes

12

 

Product Development and Product Management

12

 

Distribution and Sales

13

 

Underwriting

13

 

Policy Service

14

 

Claims

15

 

Value Delivery in Key Processes

15

Value Chain–Specific IoT Activity

17

 

Utilizing IoT in Pricing

17

 

Utilizing IoT in Underwriting

18

 

Utilizing IoT in Claims Process

18

 

Utilizing IoT in Product Design

19

 

Utilizing IoT to Change Policyholder Behavior

20

 

Utilizing IoT to Change Risks of Things

21

IoT Activity in Property and Casualty Insurance

23

 

Compare IoT Activities Within Property and Casualty Lines

23

 

Auto Insurance / Telematics

24

 

Homeowner and Commercial Property Insurance

26

 

Other Property and Casualty Insurance

26

 

Drones Used by Asia-Pacific Insurers

27

IoT Activity in Life and Health Insurance

28

 

Compare IoT Activities Within Life and Health Lines

28

 

Individual Life and Health Insurance

29

 

Use of Wearable Devices

29

Conclusion

31

Leveraging Celent’s Expertise

32

 

Support for Financial Institutions

32

 

Support for Vendors

32

Related Celent Research

33

Asia-Pacific

Abstract

This webinar draws on a 2015 Celent survey on legacy modernization. More than 60 firms including banks, insurers, brokers, and asset management firms responded to the survey. This new two-part webinar is an extension of this work and narrows the focus to the insurance sector.

Social Media in Asian Banks
by Hua Zhang, September 22, 2016
Industry Trends
Asia-Pacific

Abstract

今天的银行业面临一个很大的挑战是,有很多银行以外的企业会比银行更了解银行的用户,社交网络便是其中之一。社交网络能够更近观察客户,更好地细分客户,银行可以基于此为来更好地提供消费金融、支付等服务;提供更完善的风险控制手段;为低端长尾用户提供金融服务。

在新报告,亚太地区社交媒体在银行业中的应用:社交型银行的诞生,Celent分析了社交网络的使用方式、适用领域和发展趋势。今天,银行业除了利用社交网络来与客户做信息沟通以外,我们还看到一些银行利用社交网络来作为电子渠道,开发了一些基于社交网络的创新型业务和产品,并且诞生了一些完全基于社交网络的社交型银行。

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

by Hua Zhang, September 12, 2016
Industry Trends
Asia-Pacific

Abstract

Celent has released a new report titled Scenario-Based Financial Services: The Next Generation of Financial Distribution Channels. The report was written by Hua Zhang, analyst in Celent’s Asian Financial Services practice.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Why Will Scenario-Based Services Become the Next Generation of Financial Services?

3

Scenario-Based Financial Services of Large Internet Companies

5

 

Alibaba

6

 

Tencent

7

 

Baidu

7

Scenario-Based Financial Services of Traditional Financial Institutions: The Case of Ping An

9

Other Scenario-Based Financial Services in the Retail Industry

11

 

Installments

11

 

Insurance

11

 

SaaS-Based Corporate Services

12

Conclusion

14

Leveraging Celent’s Expertise

15

 

Support for Financial Institutions

15

 

Support for Vendors

15

Related Celent Research

16

by Hua Zhang, September 8, 2016
Industry Trends
Asia-Pacific

Abstract

At present, some financial institutions are providing SaaS services, B2B transaction services and logistics services to SMEs in their approach to supply chain financing, so as to better understand their corporate customers.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Supply Chain Financing Based on SaaS

3

 

SaaS in Tourism Enterprise Management

3

 

SaaS in Hotel Management

4

 

Chemapao.com

5

 

Food and Beverage SaaS to Supply Chain Finance

6

 

From Seller Services to Financial Services

7

 

SaaS Services Targeted at Chain Enterprises

8

Supply Chain Financing Based on B2B

10

 

MRO to Financial Services

10

 

From a Medical Procurement Program to Financial Services

11

Supply Chain Financing Based on Core Enterprises

12

 

Baosteel’s Supply Chain Financing

12

Conclusion

13

Leveraging Celent’s Expertise

14

 

Support for Financial Institutions

14

 

Support for Vendors

14

Related Celent Research

15

by Eiichiro Yanagawa, August 29, 2016
Industry Trends
Asia-Pacific

Abstract

This report addresses trends in Fintech, with a focus on the burgeoning robo advisor industry and the unique attributes of Japan’s market. This report examines pioneering robo advisor efforts, technology, business areas ripe for development, and the outlook for the Fintech boom.

Four trends can be distilled in the global wealth management sector:

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Fintech Megatrends

4

 

The Significance of Fintech Defined

4

 

What Is All the Fuss About?

4

Fintech in Japan

7

 

Trends in 2015

7

 

Key Initiatives in Japan

7

Global Trends in Wealth Management

10

 

Automated Advice

10

Japan’s Wealth Management Market

14

The Future of Robo Advisor Services: Pioneering Unexplored Areas

17

 

Megabanks

17

 

Startups

18

 

Dedicated Online Securities Broker

20

 

Technology and New Business Frontiers

22

 

Sell Side Business Model

22

 

Retail Investor Appetite

24

 

Specter of Negative Interest Rates

25

The End Destination of the Fintech Boom

27

 

Financial System Functions: Continuity and Change

27

 

Modularization and Change

27

 

Robo Advisor Services: The Road Ahead

29

Leveraging Celent’s Expertise

33

 

Support for Financial Institutions

33

 

Support for Vendors

33

Related Celent Research

34

Asia-Pacific

Abstract

At present, artificial Intelligence (AI) technologies are increasingly being applied in the banking industry, mainly toward knowledge management, identity authentication, market analysis, customer relationship management, anti-money laundering, and risk control.

by Wenli Yuan,  Luis Chipana, August 1, 2016
Industry Trends
Asia-Pacific

Abstract

Celent gives an overview of social media use by Asia-Pacific life insurers.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

2

 

Key Research Questions

2

 

Methodology

3

Social Media

5

The Benefits of Using Social Media

8

Social Media Adoption Rates

16

 

Compare with Property and Casualty Companies

18

 

Social Media Market Share by Country (by DWP)

19

Trends and Priorities of Insurers in Social Media

27

 

Shift of the Focus Area

28

 

Making Social Media a Successful Channel

30

Conclusion

31

Leveraging Celent’s Expertise

32

 

Support for Financial Institutions

32

 

Support for Vendors

32

Related Celent Research

33

Asia-Pacific

Abstract

In this webinar, Celent analyst KyongSun Kong reviews the status of the South Korean smart pay market and forecasts future trends. Conventional online payments have been complicated, requiring users to input a number of items. However, the advent of smart pay has made it possible for users to input their card information once and, thereafter, make payments merely by inputting their password.

Asia-Pacific

Abstract

Digital insurance is a red hot topic in the industry. Insurers in Asia are talking digital, but to what extent has this translated into action?

Insurers in the region are aware of the potential of digital engagement to strengthen the customer proposition. Most insurers, though, are still at the stage of digital enablement, with a focus on automating back office processes and reducing paper. Areas of innovation such as cognitive computing, the Internet of Things, and social data are prioritized by only a minority of insurers.

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