Showing posts with label retail banks. Show all posts

Tuesday, 3 June 2014

Will Bancassurance become the major distribution channel for Insurance?

Key questions on your mind:

Is bancassurance the cheapest and most wide spread distribution channel in the sector?
Is bancassurance the future?
Will bancassurance become the fastest growing channel in years to come?

The concept of bancassurance has taken a central role in the strategy of a growing number of financial institutions. Major insurers globally – Wells Fargo, ING Group, China Life Insurance have all implemented a bancassurance strategy.

Insurance products distributed through the banking channel have become a natural choice for mass-market clients looking for simple and low-cost products available from a trusted financial institution. Globally, bancaussrance is emerging as an important insurance distribution channel allowing insurers to expand their geographical presence and for banks to expand their product portfolio.

In the Americas, Brazil and Europe, Spain held the largest bancassurance market share. Bancassurance in Asia-Pacific is still an emerging channel and is being dominated by traditional distribution channels. In spite of this, South Korea held the largest bancassurance market share.

Although the benefits bancassurance may provide such as ease of products being available to customers, clear challenges are present from regulatory updates and competition from popular traditional distribution channels.

Analyse the key trends and drivers by region and take advantage of the opportunities in the growing bancassurance market.

If you would like more information on this subject please visit our website or email us at marketing@timetric.com

Related reports by region:

Bancassurance in Asia Pacific to 2020: Market Profile

Bancassurance in the Americas to 2020: Market Profile

Timetric in association with Industry Report Store

Industry Report Store is one of the world’s most comprehensive libraries of market intelligence, with the perfect report for every business need at every budget. Business information is paramount for companies seeking to stay ahead amid challenging economic conditions and intense competition. Contact us today to take advantage of our premium intelligence insights and keep up with your industry competitors.

Gurveer Vasir
Marketing ExecutiveT: +44 (0) 203 220 0806
E: gurveer.vasir@uk.timetric.com
W: www.timetric.com

Thursday, 3 April 2014

More money than letters: The modern postal service

You could be forgiven for thinking that the fates of the global postal services were intertwined with that of the letter. But despite the apparent death of the ancient art of letter writing, postal operators are still very much alive; in fact they are flourishing.

Using some of the insight from Timetric’s latest report, I will be examining why postal services have been able to successfully venture into the realm of finance.

Touching the untouchables

Remote locations has been a strong
asset for opening up the market

The established networks of the postal services have acted as an efficient platform to provide financial services to isolated members of the public. Touchpoints in some of the most remote parts of their counties have meant that postal services have had unique opportunities to open up the market to previously unbanked rural populations.

Everybody wins

They have not just touched the geographically isolated, but also the socially vulnerable. Governments are supporting and pressing their postal operator to offer basic financial services to isolated social groups to combat poverty and inequality. By providing savings accounts, insurance, pension payment services, remittances services and loans products the postal services supply vital support. Their admirable business plan is both commercially and socially rewarding.

The perfect financial partnership

The glory of this unique achievement must, however, be shared with the postal operator’s important partnership with banks. These alliances have produced major reward for all parties involved due to their combined skills and assets. For example, the UK Post Office’s decision to team up with the likes of Barclays and Halifax has delivered impressive results.

A trusted brand

Their long tradition of providing reliable and cost effective services has meant that postal services have had high levels of consumer confidence. The instantly recognisable quality brand has ensured that postal operators carry the invaluable asset of consumer trust in an industry currently very short of it.

Communication’s ever increasing reliance on the internet has unquestionably diminished the post’s traditional revenue streams. Yet the postal services are reporting healthy profits, largely thanks to their financial enterprises.

Globally, in 2011, financial services accounted for 11.7% of postal operators’ total income. Timetric’s in-depth analysis forecasts this percentage to further increase significantly. The established networks, trust and banking partnerships have made the postal services across the world important organisations for both the financial industry and society as a whole.

If you want Timetric’s market leading insight and data about the financial services of post offices around the globe, then please click here.

Sources:

- Opportunities in Global Post Office Financial Services

- Post Office Financial Services: Emerging Economies

Timetric in association with Industry Report Store:

Ali Wood
Marketing
E: alistair.wood@uk.timetric.com
W: www.timetric.com

Thursday, 27 March 2014

What is the banking executive’s biggest fear?

There are certainly enough contenders for this title with the global economy, cyber fraud and regulations all making bankers sweat, but which one do you think triggers their worst nightmare?

The slow global economic recovery is felt to be a major apprehension with high unemployment and low customer confidence threatening to jeopardise expansion plans and profit margins. This, however, is not the concern it once was and has not won the title.

Another rising anxiety with a shot at the crown is cyber crime, especially in the Asia-Pacific region. Cyber crime is getting more sophisticated and is disrupting the market but is yet to be a bank's most alarming apprehension.

A recent survey of 124 global banking workers, 35% of which are CEOs and Directors, revealed that changing regulation was their major concern. Altering government legislation has kept the industry up at night because it will drastically affect the competitive landscape, profitability, operational setups and potentially see a rise of available new substitutes.

The next six months are set to present many challenges, but it is always good to look at the other side of the coin and remember that opportunities will also present themselves!

Source: Banking Business Confidence Report 2014

Contact us if you would like any sample pages or if you want to enquire about any reports that we might have.

Timetric in association with Industry Report Store:

Ali Wood
Marketing
E: alistair.wood@uk.timetric.com
W: www.timetric.com

Tuesday, 22 October 2013

ICT Spend Predictions in Japan

This month, we are offering an exclusive bundle of brand new ICT Spend Prediction Reports.

This fantastic bundle includes reports that cover ICT spend forecasts for small, medium or large Japanese companies across a range of sectors:

ICT Spend Predictions in Small/Medium/Large Japanese...

Retail Banks, Financial Market Institutions, Insurers, Media Companies, Manufacturers, Pharmaceutical Companies, Healthcare Providers, Government Institutions, Educational Institutions, Retailers, Energy Companies and Utilities.

These reports include:

Estimated ICT budget allocation by core technology area, function and entity

Forecasted spending data on hardware, software, IT services, telecommunications and consulting services

This will allow you to:

Identify profitable sectors and discover what companies in Japan are planning to invest in for their ICT needs.

Detect new opportunities in the market and foresee what will be in demand.

Gain access to expert business intelligence provided by Kable’s robust market research and analysis.

To take advantage of our bundle offer, we have the following options available:

Bundle 1: 15% Discount (Save $222)

Any three reports for only $1263

Bundle 2: Buy 4 get 1 free

Any five reports for only $1980

Price of individual reports are $495 each.

Contact us for more information and exclusive offers!

For more information on this report, contact us here.

About Industry Report Store:

Industry Report Store is the most comprehensive online resource for market research reports, analysis, news and expert commentary on 40 industries in over 100 countries. Find over 150,000 global and country sector reports, consumer trend reports, company profiles and market guides, all available for online purchase.

The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own in-house expert teams and from carefully selected third-party publishers. We provide access to the latest data on global and local markets, key industries, top companies, M&A activity, new product launches and trends so you can make faster and better informed business decisions.

With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Report Store delivers in-depth knowledge of local markets worldwide.

Press Contact:

Hung Yuen

Marketing Executive

T:+44(0)20 7936 6830

M: reportinfo@industryreportstore.com

Wednesday, 31 July 2013

How will large Middle Eastern banks allocate their ICT budgets?

The report illustrates how Kable expects large Middle Eastern retail banks to allocate their ICT budgets across the core areas of enterprise ICT spend, namely hardware, software, IT services, communications and consulting.

This report will analyse:

ICT budget allocation of Large Middle Eastern retail banks by core technological area, function and entity

In-depth forecasted spend on hardware, software, services, consulting and telecommunications

This report will allow you to:

Identify sectors that are forecasted to be the most valuable and discover exactly what large Middle Eastern retail Banks want to invest in to satisfy their ICT needs