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TMCNet:  4G Insurance Core System behind China's First Life Mutual Insurer

[September 13, 2017]

4G Insurance Core System behind China's First Life Mutual Insurer

SHANGHAI, Sept. 13, 2017 /PRNewswire/ -- Recently, China's first mutual life insurance organization - Trust Mutual Life Insurance Company (Trust Mutual) launched their business in China, becoming the first production client of eBaoTech Corporation's (eBaoTech) new generation of LifeSystem Suite V4.

Components & Competency of LifeSystem Suite V4

Since its inception, Trust Mutual Life has been mainly centering on a particular group's demand for pension and health, and focusing on the development of long-term insurance products, such as pension and health insurance, in an effort to address the needs of such group. With this in mind, Trust Mutual Life provides convenient and affordable insurance service, further showcasing financial sharing and public welfare. Chen Dangyang, CTO of Trust Mutual Life, said that "Internet can aggregate the group with the same insurance needs against homogeneous risks in a larger scope, forging more favorable conditions for the development of mutual insurance. The openness, collaboration and connectivity within eBaoTech's LifeSystem Suite V4 help facilitate the development of tailored mutual insurance products and service."

"In the mobile Internet era, insurance IT will transform from internal process-based design in the past 10 years to a design featuring ral-time interaction with external mass data, applications, scenarios and channels. The core technology of insurance is spurred to change from 3G technology (e.g. Java) to 4G technology (e.g. micro-services and cloud-native-architecture)", Dr. Woody Mo, CEO of eBaoTech, has remarked.

eBaoTech's latest generation of insurance core business system is designed based on the micro-services and cloud-native-architecture to connect and enable cloud ecosystem. It provides agile meta-data driven model and fast component/asset management platform, whereby the latest consumer demands in the mobile Internet era is met. Chen Dangyang said that "eBaoTech's LifeSystem V4 is based on an open system architecture for digital insurance, with the capability to facilitate the integration of internal and external data as well as the consolidation into the vast digital ecosystem. Such feature accords with our organization and service philosophy, and our requirements for the policy administration system. In addition, V4 system enables to rapidly launch new products and new functions by quickly assembling insurance services, fully supporting the membership system functions under mutual insurance."

eBaoTech's V4 core system supports on premise, SaaS and hybrid cloud deployments. With V4's configuration platform, the system effectively manages the function component assets delivered by each project, client and partner and progressively achieves the rapid assembling products and services by using repeatable component assets, as a result, facilitating and speeding up the delivery.

About Trust Mutual Life Insurance Company

Trust Mutual Life is the first mutual life insurance organization in China. It was established with the official approval from China Insurance Regulatory Commission on May 5, 2017. Ant Financial Services Group, Tianhong Asset Management, GuojinDingxing Investment, Chengdu Jia Chen, By-Health, Tempus, Nexgo, Beijing Vision and Chinahrt are the founding members of Trust Mutual Life. With the membership system, Trust Mutual Life focuses on the needs of specific groups for assurance, and develops long-term pension and health insurance. Trust Mutual Life was registered in Beijing with initial operation fund of CNY 1 billion. More Chinese information at www.trustlife.com.

About eBaoTech

eBaoTech's mission is "make insurance easy". Since its founding in year 2000 and pioneering the 3G insurance tech, or Java based core insurance system, eBaoTech has grown fast and today has business in more than 30 countries globally, serving more over two hundred carriers and numerous agents, brokers, and other ecosystem players. Digital insurance is the coming wave. In eBaoTech view, digital insurance means connected insurance. To enable connected insurance, eBaoTech led the world again in developing 4G tech for insurance industry and offer it in both software and cloud business models.�

eBao Cloud�is an Open API platform to provide real connectivity and enablement for insurers, traditional channels, affinity partners, and FinTech startups. eBao Software�mainly include core system suites for life, general, and health insurers as well re-insurers. More information at www.ebaotech.com.

Photo - https://photos.prnasia.com/prnh/20170913/1938367-1-b

SOURCE eBaoTech Corporation


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