Korea Life Insurance launches its new business in Vietnam with eBaoTech LifeSystem deployment
Korea Life Insurance Vietnam successfully launched its business by deploying the eBaoTech LifeSystem V3.1.6 on April 1. Dozens of policies were issued within a few days of business launch as testament to the smooth and robust quality of eBaoTech LifeSystem.
This launch marks as one of the significant milestones in Korea Life Insurance’s 60-year history as its first foray into an overseas venture. It is also the first Korean life insurer to start up business in Vietnam and the first overseas business entirely owned by a Korean life insurer.
The image-driven standardization approach from eBaoTech enables Korea Life Vietnam to kick off its business among three branches, two in Ho Chi Minh City and one in Hanoi, which allows quick premium collection and initial registration in branches while underwriting and detail registration are centralized in the head office. This streamlined approach realizes quick turnaround in policy fulfillment and centralized consistent risk management and decision making.
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