eBaoTech® LifeSystem Suite is Operational at Ji Xiang Life Insurance
Life insurer selects eBaoTech’s life insurance policy administration system to quickly launch new business
Shanghai – Changsha – October 15, 2012 – eBaoTech Corporation, a leading provider of new generation software and services for the life and general insurance industries, announced today that eBaoTech® LifeSystem Suite is now operational at Ji Xiang Life, a new insurance company. The system implementation was completed in a few months and enabled Ji Xiang Life to smoothly open its business in Hunan Province, China.
Ji Xiang Life Insurance was founded with China Insurance Regulatory Commission (CIRC) approval on July 22, 2011. It is a national life insurance company with a registration capital of 11.5 billion RMB, and is the first insurance company based in Hunan province.
After careful consideration, Ji Xiang Life chose eBaoTech LifeSystem as the core insurance system to operate its business. With eBaoTech’s standards-based and highly automated policy administration system, business units can launch new products and add sales channels within days. eBaoTech® SalesPlatform comes pre-integrated with eBaoTech® LifeSystem to provide a wide range of sales tools and a friendly user interface design for sales staff, insurance agents and other front-end users.
Liu Weiping, Ji Xiang Life’s Acting Deputy Executive General Manager, said, “Thanks to the strong cooperation between Ji Xiang Life’s IT team and eBaoTech’s consulting and implementation team, the system installation was completed 20 days ahead of schedule. eBaoTech’s LifeSystem Suite’s strong technical advantages will help Ji Xiang Life pave its way to success.”
Wang Tao, Acting Secretary to Ji Xiang Life’s Board of Directors, praised eBaoTech’s expertise and effort during the implementation and looks forward to eBaoTech’s continued premier service to assist Ji Xiang Life to succeed.
Guo Li, Ji Xiang Life’s IT Director, added, “The implementation of the entire core system was smooth, meeting cost goals and exceeding timeline expectations. This project perfectly met our requirements: a strong start, high quality and efficiency. Our IT team is very satisfied with eBaoTech’s system flexibility and configurability. eBaoTech’s LifeSystem Suite lays a solid IT infrastructure for Ji Xiang Life to deliver its commitment to building a customer-centric and innovation-driven life insurance company.”
Highlights of the Ji Xiang Life project include:
- A smooth implementation, meeting all planned milestones and budget
- A core system with built-in product definition tools such as the product configurator, rules engine and formula management system to simplify and speed both product creation and modifications
- Built-in support for multiple sales channels such as agent, bancassurance, and telemarketing
- Highly professional and comprehensive risk prevention mechanisms
“Insurance companies are increasingly asked to deliver real-time results. Customers expect prompt service, easy purchase processes, simplified product designs, and better system interfaces,” Woody Mo, CEO of eBaoTech commented. “Insurance companies are also modernizing, and want to launch new products and channels in days instead of months, to enable customers and salespeople to close deals in seconds instead of days, and to adapt to market changes in months instead of years. LifeSystem Suite is a real-time IT system that enables insurers to achieve these goals.”
eBaoTech’s recent go-live life insurance clients in Greater China include Dah Sing in Hong Kong and Tian An Life Insurance in mainland China. In addition, a number of life insurer clients are deploying eBaoTech LifeSystem and expect to be operational in 2012.
About Ji Xiang Life Insurance
Ji Xiang Life Insurance was established with China Insurance Regulatory Commission (CIRC) approval on July 22, 2011. It is a national life insurance company with registration capital of RMB 11.5 billion. Ji Xiang Life is the first insurance company headquartered in Hunan province. The insurer has nine large enterprises, including Hunan Caixin Investment Holding Co., Ltd., Changsha Xiandao Investment Holdings Co., Ltd., Shanghai Lu An Investment Co., Ltd., Hunan Railway Investment Group Co., Ltd., Hunan Expressway Investment Group Ltd., and Zhong Lian Zhong Ke Co., Ltd.
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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