Asian Financial Services

by Hua Zhang, July 13, 2016
Industry Trends
Global, Asia-Pacific, EMEA, Latin America, North America

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.

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

Knowledge Management

3

 

FinGenius

3

 

KenSho

4

 

AlphaSense

4

Marketing and the Market

5

 

Omron in Retail Banking

5

 

EverString in Corporate Banking

5

 

Wise.io

6

Identity Authentication

8

 

Identity Authentication by Face++

8

Risk Management and Anti-Money Laundering

10

 

Risk Management by Ayasdi

10

 

Anti-Money Laundering by Digital Reasoning

10

Trends

12

Leveraging Celent’s Expertise

13

 

Support for Financial Institutions

13

 

Support for Vendors

13

Related Celent Research

14

Asia-Pacific

Abstract

This webinar is based on a comprehensive survey of insurers in Japan. Celent Senior Analyst Eiichiro Yanagawa examines trends in legacy modernization, including business themes, priorities, and challenges facing Japanese insurers, along with an overview and summary of the survey results.

For more information about this event, please contact Marie Aquino at maquino@celent.com.

Asia-Pacific

Abstract

In this webinar, senior analyst Wenli Yuan describes the Model Insurer Asia Awards for 2016, reviewing the nomination process and listing the winners across several categories.

by KyongSun Kong, June 30, 2016
Industry Trends
Asia-Pacific

Abstract

APAC P&C insurers are less satisfied with their vendor’s implementation capabilities and the quality of professional services delivered after implementation.

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

Survey Methodology

3

 

Survey Structure

3

 

Panel of Participants

3

PAS Adoption and Definition

4

 

PAS Replacement Cycle

4

 

Panel of Participants

5

The APAC Insurer Perception

7

 

Ease of Integration

7

 

IT Vendor Implementation and Post-Implementation Capabilities

8

 

Configuration Capabilities and IT Involvement

9

Final Thoughts

11

 

Recommendations for IT Vendors

11

 

Recommendations for Insurers

11

Leveraging Celent’s Expertise

13

 

Support for Financial Institutions

13

 

Support for Vendors

13

Related Celent Research

14

by KyongSun Kong, June 30, 2016
Industry Trends
Asia-Pacific

Abstract

APAC life insurers are increasingly satisfied with their vendor’s implementation capabilities but not with the quality of professional services delivered after implementation.

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

Survey Methodology

3

 

Survey Structure

3

 

Panel of Participants

3

PAS Adoption and Definition

4

 

PAS Replacement Cycle

4

 

Panel of Participants

5

The APAC Insurer Perception

7

 

Ease of Integration

7

 

IT Vendor Implementation and Post-Implementation Capabilities

8

 

Configuration Capabilities and IT Involvement

9

Final Thoughts

11

 

Recommendations for IT Vendors

11

 

Recommendations for Insurers

11

Leveraging Celent’s Expertise

13

 

Support for Financial Institutions

13

 

Support for Vendors

13

Related Celent Research

14

Blockchain Applications in China
by Hua Zhang, June 29, 2016
Case Studies
Asia-Pacific

Abstract

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

概要

1

介绍

2

证券业的应用

4

银行业的应用

7

结论

9

Leveraging Celent’s Expertise

10

 

Support for Financial Institutions

10

 

Support for Vendors

10

Related Celent Research

11

Insurance China 2016 | Practice New Development Concept: Build International Insurance Center

: Shanghai, China
: September 22, 2016
: 2 Days
: Asian Financial Services, Global Financial Services, Insurance
Asia-Pacific
insurance china 2016

The summit will focus on the Practice New Development Concept. Building International Insurance Centers, having the deep discussion on the latest policy analysis and market development of the insurance industry, product and service creation on health insurance, old-age insurance, vehicle insurance, catastrophe insurance, shipping insurance and Internet insurance, also insurance assets investment and risk management, insurance technology application and channel integration development.

by Wenli Yuan,  Luis Chipana, June 14, 2016
Industry Trends
Asia-Pacific

Abstract

Celent has released a new report titled Are Insurers Really Embracing Social Media in Asia-Pacific?  Social Media Use Among Property and Casualty Insurers. The report was cowritten by Wenli Yuan, senior analyst in Celent’s Asian Financial Services group, and Luis Chipana, analyst in Celent’s Latin American Insurance 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

Introduction

2

 

Key Research Questions

2

 

Methodology

3

Social Media

5

The Benefits of Using Social Media

8

Social Media Adoption Rates

14

 

Social Media Market Share by Country (by DWP)

16

Trends and Priorities of Insurers in Social Media

23

 

Shift of the Focus Area

24

 

Making Social Media a Successful Channel

26

Looking Forward

27

Leveraging Celent’s Expertise

28

 

Support for Financial Institutions

28

 

Support for Vendors

28

Related Celent Research

29

by Eiichiro Yanagawa, June 10, 2016
Other
Asia-Pacific

Abstract

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

 

Definitions

2

Legacy Modernization in the Insurance Industry

3

 

Overview of Insurance Core Systems

4

 

Why Modernize?

5

 

What Does It Mean to Modernize a Core System?

6

Celent’s Recommendations

10

 

Digital Financial Services and Legacy Modernization

10

 

Digital Native Initiatives

11

 

Diversification of Technology Sourcing Models

12

 

Legacy Modernization Framework

13

Proposals for Japanese Insurers

16

 

Landscape and Targeting

16

 

Modernization That Avoids Recreating Legacy Issues

17

 

Globalization of Insurers

22

 

Top Tier Companies Undergoing Transformations

23

Leveraging Celent’s Expertise

25

 

Support for Financial Institutions

25

 

Support for Vendors

25

Related Celent Research

26

by Eiichiro Yanagawa, June 10, 2016
Other
Asia-Pacific

Abstract

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

This report sheds light on the state of core business systems and core system modernization, the outlook for the future, and industry challenges.

The report examines the following areas:

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

 

Definitions

1

Introduction

2

 

Global Trends

2

 

Japan’s Insurance Industry

3

Legacy Modernization Survey 2015 Overview

9

 

Survey Items

9

 

Overview of Survey Participants

9

The State of Modernization

11

 

System Replacement Goals and Strategies

11

 

Replacement Project Consideration

12

 

Challenges and Vendor Expectations

15

Business Case Perspectives

18

 

Legacy Systems Impacts and Merits of Modernization

18

 

Role of Business Cases

19

 

Changes in Cost Allocation

20

New Technology Adoption and Its Impact on Modernization

23

 

Challenges in the IT Arena

23

 

IT Unit Assessment

24

 

Changes of Division of Labor Between Business and IT Units

25

State of the Industry According to the Survey Results

27

 

State of Legacy System Modernization at Japan’s Insurers

27

Toward Part 2

29

Appendix

30

 

Respondent Profile

30

Leveraging Celent’s Expertise

32

 

Support for Financial Institutions

32

 

Support for Vendors

32

Related Celent Research

33

Sign in to download reports and access personalized information