eBaoTech Congratulates the Shanghai Insurance Association for Celent’s Asia Model Insurer 2013 Award
Award recognizes the Shanghai Insurance Association for its Auto Insurance Information Exchange Platform which regulates the market and improves risk management using an eBaoTech software solution
eBaoTech, a leading software provider for the life and property & casualty insurance industry, announced that its client, the Shanghai Insurance Association (SIA), has been named a Model Insurer in Celent’s Model Insurer Asia 2013: Case Studies of Effective Technology Use in Insurance report.
The Shanghai Insurance Association (SIA) was recognized in the Risk Management category for its auto insurance information exchange platform to regulate the market and improve the industry’s risk management. The insurance exchange platform, named the Shanghai Auto Insurance Information Exchange Platform, was commissioned by the China Insurance Regulatory Commission-Shanghai Bureau with the support of the Shanghai Municipal Government, in collaboration with several government agencies. Managed by SIA, the insurance exchange platform was developed by eBaoTech and went live on April 1, 2004, with more functionality and integrations added in 2009 and 2012. The platform is operated in a SaaS model. Consisting of two main systems and ten sub-systems, the Shanghai Auto Insurance Information Exchange Platform has proven highly resilient and capable of handling the tremendous growth in insured vehicle volume over the past few years in Shanghai.
“The Shanghai Insurance Association’s Auto Insurance Information Exchange Platform provides real-time data access for the benefit of insurers, government safety agencies and consumers,” noted Ms. Wenli Yuan, Celent analyst and report author. “This project stood out for its accomplishments in the areas of data standards and transparency, efficient reuse of data, system integration, and improved use of channels.”
“eBaoTech congratulates the Shanghai Insurance Association on its Celent 2013 Model Insurer Award,” said Woody Mo, chief executive officer of eBaoTech. “The Shanghai Insurance Association has made significant achievements in both market regulation and risk management, and we are happy to be their trusted partner. We also thank Celent for recognizing SIA’s industry achievement with this award.”
The Celent Model Insurer Asia 2013: Case Studies of Effective Technology Use in Insurance report recognizes 17 insurance technology initiatives as Model Insurer Components. The case studies showcase best practices in the use of technology and span key areas of the product and policyholder lifecycle, including agent portal, analytics, business process management, policy administration, risk management, service, underwriting, claims and distribution/new business. The report also reviews IT best practices and measurable business results used in evaluating the Model Insurer Components. Celent research clients may download the report at: http://celent.com/reports/celent-model-insurer-asia-2013-case-studies-effective-technology-use-insurance. Non-clients may contact Celent at: firstname.lastname@example.org.
About Shanghai Insurance Association
The Shanghai Insurance Association (SIA) was established in 1994 and has 168 member insurers and agents. The Chinese language website of SIA is www.shia.org.cn.
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 eleven countries across Europe, Asia Pacific and the Americas, and installations in nearly 30 countries, eBaoTech has extensive global presence to serve leading insurance companies. For more information, visit www.ebaotech.com.
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