eBaoTech's packaged solutions take away the complexity that comes with managing the operations of insurance business, giving insurers more time and resources to devote to their core activities of selling insurance.
All these packages are developed using web technology and are easy to use and implement. They are all fully Java based, three-tier and customer-centric insurance administration systems.
eBaoTech LifeSystem is an end-to-end life insurance core system that supports all mainstream products, sales channels, and whole life cycle functionalities in an All-In-One manner. Products supported: Traditional (with or without participating) whole life and endowment, term, accident, medical, investment linked, universal life, annuity, mortgage life and others; Sales channel supported: Traditional agents, bancassurance, telemarketing, worksite marketing, affinity group, broker, and group insurance sales team; Functionalities supported: Product definition, new business, underwriting, customer/policy servicing, claims, renewal, billing/collection/payments, general ledger, re-insurance, sales channel management, image/workflow, reporting, letters, printing; sales force automation.
KEY BENEFITS
eBaoTech LifeSystem is able to deliver significant and immediate
benefits to life insurance companies by reducing hardware cost, maintenance
and operations expenditure, as well as improving service quality and
reducing time to market.
Substantially lowering operation cost: LifeSystem is fully based on web technology and almost completely
eliminates decentralized maintenance cost and allows insurers absolute
freedom to choose hardware and operating systems which leads to substantial
cost reduction.The web-based system allows staff to work anytime anywhere,
allowing flexible work process arrangements and remote collaboration
among different countries for optimal utilization of human resources.
Its integrated imaging and paperless workflow technology means documents
are processed immediately, eliminating cost and time taken to transport
paper documents.
Significantly improving customer service: LifeSystem fully adopts customer centric design by centralizing customer
information across product lines and sales channels to enable “one-customer-view”,
leading to better customer services. Customers, agents, brokers and
bank channel partners can easily log in to perform real time services
for certain low risk functions such as query of claim or commission,
new business submission and basic policy alteration. This leads to
significant improvement in customer and partner satisfaction. Staff
performance can be easily measured as all processing steps have logs
and time stamps to enable powerful productivity analysis.
Drastically reducing time to market
for product launch: LifeSystem
has a fully parameterized product definition subsystem that allows
users to configure a new product or modify an old product in as short
a time as two hours. The system is able to support all calculations
and controls for the new product throughout all subsystems. This powerful
feature cuts the product launch time from months to days, which is
a major competitive advantage in this highly dynamic market place
with frequent product innovations.
Ease of future system enhancement and
maintenance with strong support: LifeSystem’s architecture is based on component design and open
standards technology allowing ease of enhancements and development.
This ensures a much lower cost of fulfillment for future system enhancements.
