eBaoTech Receives XCelent Functionality Award for its LifeSystem Suite

SHANGHAI, May 6, 2014 /PRNewswire/ — eBaoTech, a global software provider for the life and property & casualty insurance industry, today announced it has received the XCelent Functionality award for its LifeSystem Suite , a complete policy administration software solution for life insurance carriers.

Celent’s new report, Asia-Pacific Policy Administration Systems 2013 — Life, Annuities, and Health ABCD Vendor View profiled 22 policy administration systems (PAS) in use or being marketed for Asia-Pacific life, health and annuities products and reviewed each vendor’s system against the technology, functionality and services demanded by life insurers.

“The XCelent awards identify the leaders in insurance technology that best help insurers manage the growing complexity of the life insurance business,” said Wenli Yuan, a senior analyst in Celent’s Asian Financial Services Group and the author of the new Celent report. “And as insurers’ customers, agents and brokers demand faster interaction times the pressure will only increase on their policy administration systems to operate in real-time.”

eBaoTech serves life insurers in nearly 30 countries globally. Clients in Asia Pacific region include ACE Life, Ageas, Asahi Life, Dah Sing Life, Prudential, Samsung Life, Taiping Life and NTUC Income, among others.

“We are honored to receive the XCelent Functionality award in Celent’s APAC PAS report,” said Woody Mo, president and CEO of eBaoTech. “Life insurers in Asia Pacific need a modern core system to support their business growth and multi-channel demands along with improving their time-to-market, and operational efficiencies.”

eBaoTech LifeSystem is a comprehensive insurance software suite that is specifically designed to deliver real-time results. It is an all-in-one system that provides centralized data and a truly customer-centric view, which means that implementing new regulatory changes is easier, and customer data across product lines and sales channels is available on one system. In addition, implementation time is shorter, and system setup and maintenance costs are lower.