South Korean insurer Hanwha Life has selected eBaoTech LifeSystem as the policy administration system for management of its new business in Indonesia.
The selection is based on the partnership between eBaoTech and Hanwha Life, which has been using the LifeSystem solution for its Vietnam operations for the past several years.
eBaoTech LifeSystem will be used for management of legacy and investment linked life products of Hanwha Life, which has recently purchased an 80% stake, for KRW 14bn ($1.3m) in Indonesian company, Multicor Life Insurance.
EbaoTech CEO and president Woody Mo said the platform will enable Hanwha Life to help achieve their strategic business objectives in the growing Indonesia market.
Expected to go live in September 2013, the standards-based and highly automated policy administration system will also help Hanwha Life business units to rapidly launch new products and add sales channels.
A comprehensive insurance software suite, eBaoTech LifeSystem provides insurers with a centralized data and a truly customer-centric view, allowing easy implementation of regulatory changes, besides making customer data across product lines and sales channels available on one system.
