Sequislife and eBaoTech Celebrate the Phase 2 Completion of the i-qUBE System
Today, eBaoTech and Sequislife celebrated the successful Phase-2 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), is now running Sequislife’s traditional and unit linked lines of business.
“A journey to become one of the best Insurance companies has to be done through many changes in all aspects. Amongst them is the improvement of our operational system which we are now celebrating together with eBaoTech and all Sequislife’s employees, with the successful completion of i-qUBE. eBaoTech is an international company with the strong industry credibility and vast expertise to meet our needs. We have invested as much as USD 2.5 million in this new system,” said Tatang Widjaja, President Director of PT AJ Sequis Life.
The launch of this new system was done in two stages. Phase 1 was focused on unit linked products. In Phase 2, eBaoTech collaborated with Sequislife’s Actuary Department to create the reinsurance module, to enhance the existing claim module, and to add Sequislife’s traditional products on the platform. The launch of Phase 2 was completed just 6 months after the go-live of Phase 1.
Mr. Yeoh Ah Thoo, Sequislife Chief Technical Advisor, noted, “With the completion of Phase 2, Sequislife now has a comprehensive web-based system which is integrated in one platform. The efficiency of the system provides process standardization among all related departments, such as: Accounting, Agency Portal, Call Center and our Agency Compensation Department. It also reduces our manual efforts and paperwork, and we are hopeful that i-qUBE will be our first step towards paperless processing. We will continue to enhance this system from time to time to meet changing market needs.”
Notable accomplishments of this Phase 2 launch include:
- A smooth 6 month implementation, meeting all planned milestones
- Successful migration of Sequislife’s traditional business lines to the new system
- Process automation of formerly manual processes to reduce paperwork and improve sales efficiency
- More efficient and standardized processes for both traditional and unit linked businesses using LifeSystem’s built-in business process management tools
“i-qUBE gives Sequislife the ability to run their traditional and unit linked businesses on one platform, while providing the tools to get new products to market much faster than before,” said Woody Mo, President and CEO of eBaoTech. Mr. Mo added, “We are proud of the successful go-live of Phase 2 in only 6 months, which demonstrates the effectiveness of eBaoTech’s implementation methodology and the strong collaboration between Sequislife and eBaoTech implementation teams.”
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 250,000 policy holders, 7,000 salespeople, 600 employees, and over 216 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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