Sequislife Launches i-qUBE System Based on eBaoTech LifeSystem Suite
Improving customer service and launching new products faster are two key reasons for Indonesian insurer to update its life insurance software
eBaoTech and Sequislife Insurance celebrated the successful launch of Sequislife’s new life insurance system based on the eBaoTech LifeSystem Suite at Sequis Center, Jakarta. The new system, named the Intelligent Sequis Business Enterprise System (i-qUBE), was launched to dramatically improve customer service and put Sequislife Insurance at the forefront of Indonesia’s life insurance market.
“The entire sales force welcomed this new system, which will enable Sequislife to speed up and simplify the process of selling new business to prospective customers and improve our customer service,” said Director & Chief Agency Officer Mr. Bambang Rudijanto of Sequislife.
The launch of this new system, Mr. Yeoh Ah Thoo, Sequislife Chief Technical Advisor explained, consists of two stages. The i-qUBE launch is the first stage and serves both the unit-linked and traditional life insurance product lines. At this early stage, Sequislife will be more focused on unit-linked life insurance. The launch of the second phase is planned for mid-2012, he stated.
Mr. Yeoh noted, “Another advantage of the i-qUBE is that this system improves our efficiency because it automates formerly manual processes, making the system faster and more accurate. In addition, this system can run in an integrated manner with all stakeholders, such as our claims center, health agencies, call centers, sales representatives, and others. The system is also backed by a security system in case of disaster.”
With the new i-qUBE system based on LifeSystem, Sequislife has achieved these key benefits:
- Faster, more responsive customer support
- Faster new product launches
- Successful migration of their entire investment-linked business, including the portfolios previously acquired from New York Life and MetLife
- Improved financial handling via process automation of collections and payments
- More efficient and standardized business processes using LifeSystem’s built-in business process management (BPM) workflow tools
“eBaoTech is very pleased to be part of Sequislife’s move to the next level of leading insurance systems,” said Carl Kimball, Southeast Asia Regional Head of Sales for eBaoTech. “i-qUBE gives Sequislife the ability to streamline, standardize, and simplify business processes, obtaining significant ROI on efficiencies alone, while also allowing for new products to get to market in a fraction of the time previously required, a compelling competitive advantage.” Mr Kimball added, “The successful go-live of the eBaoTech LifeSystem – i-qUBE – in only 9 months clearly demonstrates that with eBaoTech’s proven implementation methodology and strong customer commitment, success will follow. eBaoTech views Indonesia as a key market in Asia and is making significant investments to support our customers in this region.”
Sequislife was established in Jakarta in 1984 under the name PT. Universal Life Indo. In 1992, it became Sewu New York Life, established under a joint venture agreement with New York Life (NYL) International Incorporation. Since the very beginning, the company has shown a strong commitment to establishing international life insurance standards for its customers.
In 2003, the company acquired all of the NYL shares, changed its name to Sequislife and introduced a new slogan “For A Better Tomorrow”. In late 2005, the company acquired Met Life Indonesia to accommodate its expansive growth and changed its name to Sequis Financial, a wholly owned life insurance company under Sequislife, with a focus on Institutional Business, Bancassurance, and Telemarketing.
In July 2009, as part of Sequislife’s long term strategy to accommodate the company’s strong growth and business expansion, Sequislife acquired the Sequis Center building, located in the Central Business District. Sequislife has more than 220,000 policy holders, 7,000 salespeople, 600 employees, and over 100 sales offices across Indonesia.
In May 2011, Sequislife received 2 MURI (Museum Rekor Dunia Indonesia) Awards:
1.The First Local Insurance Company to acquire two multinational companies.
2.The First Insurance Company to hold an Annual Dinner Award in Australia, wearing a Batik* suit.
*Batik is an Indonesian World Heritage
eBaoTech delivers standards-based, highly configurable insurance software suites to both property and casualty (P&C) and life insurers. Its product offerings enable insurers to realize cost-effective, scalable, flexible and highly automated insurance operations in an ever-changing environment. With offices in ten countries across Europe, Asia and the Americas, and installations in more than 20 countries, eBaoTech has extensive global presence to serve leading insurance companies. For more information, visit ebaotech.com.
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