Today, digital insurance is the aspiration of almost every insurer as the industry clamours to enable the connectivity of insurance to other business and lifestyle transactions. Shanghai-based eBaoTech is a technology solution provider for the global insurance industry and has clients in more than thirty countries across all continents, serving numerous insurers, agents, brokers, InsureTech startups, and others in the insurance ecosystem. In 2015, the company launched its cloud service eBaoCloud which is a family of cloud platforms, both SaaS and PaaS, built purely based on cloud-native and micro services architecture.
eBaoCloud is a shared middleware of the industry, giving insurers access to basic insurance APIs and enabling them to connect to a mix of affinity channels, as well as with other companies’ APIs such as payment systems and credit scoring. This allows insurers to very quickly meet the demand for connectivity and embed insurance products and services in a range of consumer and business websites, from travel to banking, wedding services to pet lovers’ portals, for instance. eBaoCloud consists of insurance PaaS/middleware, ecosystem platform, and SaaS for insurers/MGAs. eBaoCloud InsureMOis an insurance PaaS that enables insurers to create products faster, solution providers to include their innovations, and distributors to create insurance apps to on-sell products to customers. InsureMO’s key components include product engines, microservices for policy, claims, payment,among others.
Our InsureMO is the chip powering the insurance industry ecosystem
“Our InsureMO is the chip powering the insurance industry ecosystem,” states Woody Mo, president and CEO of eBaoTech.
The ecosystem platform offers selective solutions for certain markets such as AutoShop China which is a fully functioning solution for car dealerships to handle all aspects of insurance transactions and services with multiple auto insurers. For brokers and independent agents, Mobile Advisor China is a life insurance distribution platform to sell products from multiple insurers for real-time sales illustration, quotation, submission, and issuing policies. Particularly for the general insurance in Thailand, eBaoCloud Thailand is a distribution platform for both personal and commercial products, connecting both traditional and digital channels to multiple insurers. eBaoTech provides a collection of SaaS/apps such as a dozen or so policy admin applications for different product lines and geographic markets, stand-alone claim applications for life and general insurances, and other apps including reinsurance, channel and distribution management, apps for agents and brokers, among others.
The firm also provides eBao Software which mainly includes Java-based traditional core system suites for general, life, and group life insurance companies, as well as the related services around implementation, maintenance, and enhancements. eBaoTech General System Suite supports the entire lifecycle operation of the general insurance business, from new business, endorsement, claims, to reinsurance, compensation while supporting all mainstream consumer and commercial products, with a high degree of flexibility, configurability, and automation. The LifeSystem Suite braces the entire lifecycle operation of the life insurance business by supporting all mainstream products from traditional to investment-linked, universal life, and variable annuity. Similarly, the GroupLife Suite carriesthe entire lifecycle operation of the group life insurance business supporting typical group life products.
Currently, 30 insurance companies in China are introducing new products, services and channels via eBaoCloud, including a leading Chinese wealth management firm that implemented in just two weeks a solution that allows its advisers to sell insurance on a smartphone and issue policies in real-time. Globally, some 50 insurers, brokers/agencies and FinTech startups have also launched products using eBaoCloud. “We are leveraging on our deep understanding of insurance companies’ internal operations and our DNA as an internet company to enable the industry to go digital and make insurance easy,” concludes Mo.
Description eBaoTech® is a technology solution provider for global insurance industry. The company is on a mission to “make insurance easy”. eBaoTech have clients in more than 30 countries across all continents, serving numerous insurers, agents, brokers, InsurTech startups and others in the insurance ecosystem. eBaoTech's digital solutions include both SaaS and PaaS, built purely based on cloud native and microservices architecture. InsureMO® aims to become a global standard insurance PaaS/middleware; eBaoCloud® SaaS includes DigitalCore® for insurers and selective ecosystem platforms in certain markets