The interview is in German and focuses on the following main points (sample translation):

TransVer: Inhouse IT development is still happening at many insurers in Germany, and some have made the experience that with standard software, the adaptation requirements are too high and threaten the business case, how do you see that?

Daniel Adamec: We see that as a question of the insurer’s attitude towards implementation and of the availability of convincing software products. We have for example just implemented a non-life platform for a new direct insurer in the Netherlands (www.Ditzo.nl) within a timeframe of only 5 months, without having had a Dutch implementation before, so it can be done. However, there are also projects which are less successful. The key question that an insurer needs to answer is: Am I willing to follow the core processes of a leading standard platform, or do I want every screen and process changed? Normally, implementing a product with all the rating and product characteristics can be easily done through parametrization, but if each small process step and each screen has to be changed, then it comes at a price.

TransVer: Why should a German insurer chose a standard software from China?

Daniel Adamec: eBaoTech offers a global insurance product, and our senior management has together more than 100 years of experience at leading insurance companies in Europe, Asia and the US. Of course, our core product development is happening in Shanghai, but that has a number of benefits also for German insurance companies: The innovation drive in China is very high, since we get input from almost all global insurers that have pushed into the Chinese market with their latest insurance products, which make it eventually into our software. Also, we can produce at lower cost, and push product features very quickly into our baseline, so you can expect continued fast product enhancements. The combination of very experience staff in Europe with fantastic software development capabilities in Asia leads in our view to a very convincing combination, especially during these financially difficult times.

TransVer: How about cultural differences and difficulties in communication?

Daniel Adamec: Well, these challenges do exist, but it is our task to manage them. That is also why we have a highly experience team out of Zurich, and we are opening an office in Holland this year and soon one in Germany. In addition, we do work with a range of very capable local partners in Europe that have been trained on eBaoTech platforms to enhance our local presence. This is becoming also easier with the parametrization capability of our software products that give the power to customize in many areas directly to our clients or to our local implementation partners, so where the core product is developed becomes less and less relevant. As an analogy, you do today also not really ask where an iPhone is manufactured (in China), but you buy it in Germany from T-Systems and also get the local support in Germany and enjoy the innovative features it offers!

Please click here to see the article in German.