Online Strategies of Banking and Insurance Companies in the BRIC Countries

NEW YORK, March 20, 2012  /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Online Strategies of Banking and Insurance Companies in the BRIC Countries

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Synopsis

The report provides top-level market analysis, information and insights, including:• In-depth analysis of the online strategies adopted by banking and insurance companies in the BRIC countries: Brazil Russia, India and China• How companies in the BRIC countries are adopting social media as a part of their marketing tools• Key trends and drivers supporting the growth of online banking and insurance strategies• Challenges faced by companies in leveraging online banking and insurance platforms• Regulations affecting the growth of online banking and insurance in the BRIC nations• Company-wise analysis of marketing strategies

Summary

Internet banking has become increasingly popular in Brazil and the country's banks have begun to offer various online services, ranging from checking account transactions to making investments and even paying bills on the internet. There were 37.8 million internet banking customers in Brazil in 2010, who together conducted 12.8 billion online transactions.

Most Russian banks and insurance companies are currently seeking to develop English language websites in order to attract more international customers. Russian customers are generally very apprehensive of shopping or conducting banking activities online. Due to this, Russian banks have focused on improving the security of their websites. For example, Rosbank uses multiple software programs to ensure the complete security of their customers' transactions.

Internet banking has become an integral part of the Indian banking industry, although online insurance sales only started in the country in the late 2000s. Most Indian banks have developed mobile applications as a strategy to attract young customers. Banks in India are expected to extend the scope of their mobile banking channels to offer a broader array of products and services over the forecast period. Indian banks also use social media sites to provide basic information and market their products and new offers. It is expected that banks will incorporate consumer grievance redressal mechanisms into social media networks over the forecast period.

Banks and insurers are increasingly utilizing the online platform to market their products and services. Companies are attracting customers by providing an all-inclusive online service network. The Bank of China launched a special online service for its small and medium-size enterprises (SMEs). Chinese banks also offer an online banking platform for their overseas customers. To attract domestic and international customers, the Industrial and Commercial Bank of China has launched cross-border foreign exchange remittance and global account management services. Similarly, the Chinese insurance company PICC introduced a special online website (www.e-picc.com.cn) to offer online insurance and other value-added services to its customers. Meanwhile, Ping An Insurance introduced an online shopping model that offers insurance services.

Scope

• This report provides an extensive analysis of online marketing strategies used by banking and insurance companies in the four BRIC nations – Brazil, Russia, India and China.

• The report provides a detailed understanding of how online platforms are being used by banking and insurance industries to identify new markets, launch products, gather customer feedback and monitor brand performance.

• The report also provides insights into evolving social media market sizes for each country.

• It also provides insights into future online marketing strategies adopted by players in each industry to strengthen market position.

Reasons To Buy

• Understand the various market dynamics within the BRIC countries by industry and use that knowledge to capitalize on the potential of these high-growth markets.

• Take informed decisions and formulate effective technical and marketing strategies based on the report's detailed market insights on online strategies, including social media marketing.

• Understand the growth strategies adopted by key companies.

Key Highlights Brazil Brazil

• Russian online banking and insurance transactions currently account for only a small proportion of the country's total banking and insurance services. However, the leading Russian banks and insurance companies, such as VTB Bank, Sberbank, Bank of Moscow, Rosbank, TransCreditBank, Renaissance Insurance Group, OJSC IC Allianz (Rosno) and Uralsib, are planning to strengthen their online capabilities to capitalize on the demand for online financial services.

• Most of the largest banks in India offer online services including online banking and mobile banking facilities, although only a few banks, such as ICICI Bank, Citibank, PNB and Bank of Baroda, collect feedback on their websites. India's leading insurers offer insurance policies and premium payment options online. However, only a few of these insurers offer advisory services, and Bajaj Allianz is the only notable insurer that offers insurance through a mobile application.

• Chinese banking and insurance companies have invested significant amounts of time and capital to develop robust online and mobile distribution platforms for their customers. The top four banks in the Chinese banking industry, the Bank of China, China Merchant Bank, China Construction Bank and ICBC Bank, have developed online sites that offer an extensive range of services for their retail and corporate customers.Table of Contents1 Executive Summary2 BRIC Countries Comparison2.1 Banking and Insurance Industries' Attractiveness2.2 Online Marketing Environment2.3 Macroeconomic Drivers3 Online Strategies of Banking and Insurance Industries in Brazil3.1 Market Environment3.1.1 Macroeconomic fundamentals3.1.2 Market size and growth potential – Brazilian banking industry3.1.3 Market size and growth potential – Brazilian insurance industry3.2 Evolution of Distribution Strategy3.2.1 Evolution of distribution strategy for the banking industry3.2.2 Evolution of distribution strategy for the insurance industry3.3 Online Marketing Strategies of Banking and Insurance Industry in Brazil3.3.1 Internet marketing3.3.2 Mobile application-based marketing3.3.3 Social media marketing3.4 Competitive Benchmarking3.5 Key Trends, Growth Drivers and Challenges for Online Banking and Insurance Strategies3.5.1 Trends3.5.2 Growth drivers3.5.3 Challenges3.6 Regulatory Framework4 Online Strategies of the Banking and Insurance Industries in Russia4.1 Market Environment4.1.1 Macroeconomic fundamentals4.1.2 Market size and growth potential – Russian banking industry4.1.3 Market size and growth potential – Russian insurance industry4.2 Evolution of Distribution Strategy4.2.1 Evolution of distribution strategy for the banking industry4.2.2 Evolution of distribution strategy for the insurance industry4.3 Online Marketing Strategies of Banking and Insurance Industries in Russia4.3.1 Internet marketing4.3.2 Mobile applications based marketing4.3.3 Third-party online marketing4.3.4 Social media marketing4.4 Competitive Benchmarking4.5 Key Trends, Growth Drivers and Challenges for Online Banking and Insurance Strategies4.5.1 Trends4.5.2 Growth drivers4.5.3 Challenges4.6 Regulatory Framework5 Online Strategies of the Banking and Insurance Industries in India5.1 Market Environment5.1.1 Macroeconomic fundamentals5.1.2 Market size and growth potential – Indian banking industry5.1.3 Market size and growth potential – Indian insurance industry5.2 Evolution of Distribution Strategy5.2.1 Evolution of distribution strategy for the banking industry5.2.2 Evolution of distribution strategy for the insurance industry5.3 Online Marketing Strategies of Banking and Insurance Industries in India5.3.1 Internet marketing5.3.2 Mobile application based marketing5.3.3 Third-party online marketing5.3.4 Social media marketing5.4 Competitive Benchmarking5.5 Key Trends, Growth Drivers and Challenges for Online Banking and Insurance Strategies5.5.1 Trends5.5.2 Growth drivers5.5.3 Challenges5.6 Regulatory Framework6 Online Strategies of the Banking and Insurance Industries in China6.1 Market Environment6.1.1 Macroeconomic fundamentals6.1.2 Market size and growth potential – Chinese banking industry6.1.3 Market size and growth potential – Chinese insurance industry6.2 Evolution of Distribution Strategy6.2.1 Evolution of distribution strategy for the banking industry6.2.2 Evolution of distribution strategy for the insurance industry6.3 Online Distribution Strategies of Banking and Insurance Industries in China6.3.1 Internet marketing6.3.2 Mobile application based marketing6.3.3 Third-party online marketing6.3.4 Social media marketing6.4 Competitive Benchmarking6.5 Key Trends, Growth Drivers and Challenges in Online Banking and Insurance Strategies6.5.1 Trends6.5.2 Growth drivers6.5.3 Challenges6.6 Regulatory Framework7 Appendix7.1 About BRICdata7.1.1 Areas of expertise7.2 Methodology7.3 Disclaimer

List of Tables

Table 1: BRIC Countries' Banking Industry Scenario, 2007–2016

Table 2: BRIC Countries' Insurance Industry Scenario, 2007–2016

Table 3: Market Environment for Online Marketing of Banking and Insurance in BRIC Countries

Table 4: BRIC Countries' Current Macroeconomic Scenario, 2011

Table 5: Comparison of Macroeconomic Prospects of the BRIC Countries, 2012–2016

Table 6: Brazilian Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011

Table 7: Brazilian Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016

Table 8: Brazilian Insurance Industry by Insurance Segment (US$ Billion), 2007–2016

Table 9: Brazilian Banking Transaction by Channel (Million), 2007–2010

Table 10: Online Distribution Strategies in Brazilian Banking and Insurance Industries

Table 11: Brazilian Internet Banking Users and Transactions (Million), 2007–2010

Table 12: Brazilian Online Banking – Service Comparison

Table 13: Brazilian Online Insurance – Service Comparison

Table 14: Russian Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011

Table 15: Russian Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016

Table 16: Russian Insurance Industry by Insurance Segment (US$ Billion), 2007–2016

Table 17: Online Distribution Strategies in Russian Banking and Insurance Industries

Table 18: Russian Online Banking and Insurance – Services Comparison

Table 19: Indian Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011

Table 20: Indian Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016

Table 21: Indian Insurance Industry by Insurance Segment (US$ Billion), 2007–2016

Table 22: Online Distribution Strategies in the Indian Banking and Insurance Industries

Table 23: India Online Banking – Service Comparison

Table 24: India Online Insurance – Service Comparison

Table 25: Chinese Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011

Table 26: Chinese Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016

Table 27: Online Distribution Strategies in Chinese Banking and Insurance Industries

Table 28: Introduction of Internet Banking Services Among China's Leading Commercial Banks

Table 29: China Online Banking – Service Comparison

Table 30: China Online Insurance – Service Comparison

List of FiguresFigure 1: BRIC Countries' Banking Industry Scenario, 2007–2016Figure 2: BRIC Countries' Insurance Industry Scenario, 2007–2016Figure 3: Brazilian GDP at Constant Prices (US$ Billion), 2007–2016Figure 4: Brazilian Annual Per Capita Disposable Income (US$), 2007–2016Figure 5: Brazilian Population Distribution by Age (%), 2007–2016Figure 6: Brazilian Urban and Rural Population (%), 2007–2016Figure 7: Brazilian Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011Figure 8: Brazilian Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016Figure 9: Brazilian Insurance Industry Dynamics by Insurance Segment (US$ Billion), 2007–2016Figure 10: Evolution of Brazilian Banking DistributionFigure 11: Brazilian Banking Transaction by Channel (Million)Figure 12: Evolution of Brazilian Insurance Distribution ChannelsFigure 13: Brazilian Banking Transactions Comparison by Banking Channels (Billion), 2007–2010Figure 14: Bradesco – Online Banking InterfaceFigure 15: Banco do Brazil – Online Banking InterfaceFigure 16: Caixa Seguradora – Online Insurance InterfaceFigure 17: Brazilian Mobile Banking Users (Million), 2009–2010Figure 18: Social Media StrategyFigure 19: Brazilian Bank Using SlideshareFigure 20: Brazilian Insurance Company Using TwitterFigure 21: Brazilian Internet Penetration Rate (%), 2007–2016Figure 22: Brazilian Mobile Penetration Rate (%), 2007–2016Figure 23: Russian GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000)Figure 24: Russian Annual Per Capita Disposable Income (US$), 2007–2016Figure 25: Russian Population Distribution by Age (%), 2007–2016Figure 26: Russian Urban and Rural Population (%), 2007–2016Figure 27: Russian Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011Figure 28: Russian Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016Figure 29: Russian Insurance Industry Growth Rate by Insurance Segment (%), 2007–2011Figure 30: Evolution of Russian Banking Distribution ChannelsFigure 31: Evolution of Russian Insurance Distribution ChannelsFigure 32: Typical Internet Banking Platform of Russian BanksFigure 33: Typical Insurance Portals of Russian InsurersFigure 34: Typical Mobile Application for Russian BanksFigure 35: Third-Party Online Marketing Platform in RussiaFigure 36: Social Media Strategies in Key Russian IndustriesFigure 37: Average Number of Credit Cards Used by an Individual by Country, 2010Figure 38: Russian Internet Penetration Rate (%), 2007–2016Figure 39: Russian Mobile Phone Penetration Rate (%), 2007–2016Figure 40: Indian GDP at Constant Prices (US$ Billion), 2007–2016Figure 41: Indian Annual Per Capita Disposable Income (US$), 2007–2016Figure 42: Indian Population Distribution by Age Group (%), 2007–2016Figure 43: Indian Urban and Rural Population (%), 2007–2016Figure 44: Indian Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011Figure 45: Indian Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016Figure 46: Indian Insurance Industry Dynamics by Insurance Segment (US$ Billion), 2007–2016Figure 47: Evolution of Indian Banking Distribution ChannelsFigure 48: Evolution of Indian Insurance Distribution ChannelsFigure 49: ICICI Bank – Online Banking InterfaceFigure 50: Citibank – Online Banking InterfaceFigure 51: Life Insurance Company of India – Online Banking InterfaceFigure 52: ICICI Prudential – iCare Plan InterfaceFigure 53: Bajaj Allianz – Online Insurance InterfaceFigure 54: Policybazaar – Online Web Aggregator InterfaceFigure 55: Snapshot of Medimanage's Online Banking InterfaceFigure 56: Social Media Strategies of Key Industries in IndiaFigure 57: ICICI Bank – Official Twitter PageFigure 58: ICICI Bank – Official Facebook PageFigure 59: HDFC Bank – Official Twitter PageFigure 60: Indian Internet Penetration Rate (%), 2007–2016Figure 61: India Mobile Phone Penetration Rate (%), 2007–2016Figure 62: Indian Online Sales Distribution by Online Services (US$ Million), 2007–2016Figure 63: Chinese GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000)Figure 64: Chinese Per Capita Annual Disposable Income (US$), 2007–2016Figure 65: Chinese Population Distribution by Age Group (%), 2007–2016Figure 66: Chinese Urban and Rural Population (%), 2007–2011Figure 67: Chinese Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011Figure 68: Chinese Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016Figure 69: China Insurance Industry Dynamics by Insurance Segment (US$ Billion), 2007–2016Figure 70: Evolution of Chinese Banking Distribution ChannelsFigure 71: Evolution of Chinese Insurance Distribution ChannelsFigure 72: Chinese Internet Banking Transaction Value (RMB Trillion), 2007–2011Figure 73: Bank of China – Online Banking InterfaceFigure 74: China Merchant Bank – Online Banking Platform for New York BranchFigure 75: PICC Property and Casualty Company Limited – Online Marketing Portal InterfaceFigure 76: Snapshot of Chinese Social Media Strategies in Key IndustriesFigure 77: PICC Social Media Platform on Weibo.comFigure 78: Chinese Internet Penetration Rate (%), 2007–2016Figure 79: Chinese Mobile Phone Penetration Rate (%), 2007–2016Figure 80: Chinese 3G Subscriber Base (Million), December 2010 – July 2011Figure 81: Chinese Internet Consumer Behavior, June 2010

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