Tuesday, 21 May 2019

Driving Innovation in Digital Insurance, Aegon Life on-boards eBaoTech

SHANGHAI, May 8, 2019 /PRNewswire/ — Aegon Life Insurance, one of India’s leading Digital Insurance Companies, has partnered with digital insurance solutions provider eBaoTech to support the strategy of integration with the eCommerce partners. Backed by eBaoTech’s middle-office platform, eBaoCloud® InsureMO®, Aegon Life’s digital platform has been termed as Headless Manufacturer.

With their Digital-first approach, Aegon Life aimed at facilitating ease of buying and providing a superior experience to their customers. The partnership with eBaoCloud® InsureMO® will empower Aegon Life to build a cloud-based, microservices and event-driven architecture that provisions a scalable back-bone for high-volume and high-velocity eCommerce channels.

eBaoCloud® InsureMO® is a middle office platform for insurance industry. It is an open API platform of fast innovation and deep connectivity, digitally enabling all parties ranging from insurance carriers, brokers, agents, MGA, affinity channels, to InsurTech startups. InsureMO® allows traditional core systems of insurance organizations to extend and connect to every digital and conventional channel by offering a full set of insurance microservices across all general, life, group and health products and processes.

Speaking on this association, Douglas Kennedy, Chief Technology Officer, Aegon Life Insurance, said, “We are delighted to be included in the first wave of partnerships for eBaoCloud® InsureMO® in India. This association will help us continue to be the differentiators in the industry and achieve greater speed to market and speed to value. The first launch of our group platform with a eCommerce player was achieved within six weeks of signing our partnership with eBaoTech demonstrating by having the right teams, right architecture, right vision you can run at great speed.”

He further added, “From a customer’s perspective we will seamlessly be able to offer a wide range of products and service to them regardless of which channel they come from. This will allow Aegon Life Insurance to support volume business from a wide range of diverse sources all running in real time and giving a seamless experience.”

Woody Mo, CEO of eBaoTech said, “We are very honored to have Aegon Life as the first live tenant of InsureMO in India. eBaoTech with its continued focus on ‘make insurance easy’ now provides eBaoCloud® InsureMO®, a truly microservices-based API platform, for rapid digitization in the insurance sector. It is targeted as insurance middleware as well as connectivity hub to provide a one stop platform of real time innovation by insurers, channels, new digital affinities, and InsurTech companies and other technology vendors. We look forward to working with Aegon Life to provide more innovative products and advanced digital insurance experience to the policy holders in the fast growing India market.”

About Aegon Life Insurance Company

AEGON Life, one of the leading digital insurance companies in India, is a new-age digital service company and is amongst the first companies to launch Online Term Plan in India. Being the online protection specialists, AEGON Life has a company-employed service team that is fully geared to provide customers the highest levels of service.

With a vision to be the most recommended new age Life Insurance Company, the company’s Direct to Customer focus establishes a direct dialogue with the customers to make for greater clarity and transparency.

For more information, please visit: https://www.aegonlife.com/

About Aegon:

AEGON’s history dates back for almost two centuries, however AEGON as we know it today was founded in 1983 following the merger of two Dutch insurance companies, AGO and Ennia. Today, AEGON is one of the top-10 largest insurance companies in the world. AEGON is one of the world’s leading providers of life insurance, pensions and asset management headquartered in The Hague, Netherlands. Globally, AEGON has operations in over 20 countries and covers more than 29 Million Lives.

About eBaoTech Corporation:

eBaoTech is a digital solution provider to the global insurance industry with a company mission to “make insurance easy”. We have business in more than 30 countries, serving over 200 carriers and numerous agents, brokers, InsurTech startups and others in the insurance ecosystem.  eBaoTech offers two groups of solutions: eBao Cloud as an insurance middle ware platform, and eBao Software for traditional insurance carriers’ core systems. For more information, please visit www.ebaotech.com.

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