BANGKOK and SHANGHAI, Oct. 3, 2016 /PRNewswire/ -- eBaoTech, a leading digital solutions provider for the global insurance industry, announced today that Thailand-based Southeast Insurance and Finance Group (SEG) is operational on eBaoTech's Insurance Suites which will manage SEGs general insurance and individual life insurance businesses to support its business growth and digital transformation strategy.
SEG has offered a comprehensive range of insurance and financial products and services in Thailand for 70 years. In February 2015, SEG decided to deploy eBaoTech® GeneralSystem Suite, eBaoTech® LifeSystem Suite and eBaoTech® GroupLife Suite to manage its general insurance, individual life insurance, and group insurance businesses respectively in order to improve its end-to-end operation and IT capabilities.
In May 2016, SEG launched GeneralSystem, which is now administrating policies in more than 80 branches in Thailand, and in July 2016 Mega-channel Distribution Engine (McDE) went alive to issue insurance policies at booths located in Big C superstores nationwide as a pilot phase to provide more convenience for its partners and customers.
LifeSystem Suite supports the entire lifecycle operation of the life insurance business, including new business, endorsement, claims, reinsurance, finance and compensation. LifeSystem Suite will enable SEG to significantly reduce human intervention and improve operational efficiency and to quickly configure and launch new products to meet fast-changing market needs.
Mr. Chotiphat Bijananda, Chairman of the Executive Board of SEG commented on the significance of these go-lives, "We are so excited that we have completed these complex replacements within 18 months. I would like to give a big thank you to the joint project team from eBaoTech and SEG for their dedication and extremely hard work. I am confident that with the future-proof digital solutions in place, we will be able to synergize our system of our branches, partners, and head office to provide real-time service around the clock. This helps maximize business opportunities with partners and increase more convenience for customers with fast and flawless services."
Woody Mo, president and CEO of eBaoTech added, "We are delighted to become SEG's software partner to support their three-year growth plan. SEG's management team is very visionary in digital areas and eBaoTech is committed to providing continuous support and value to SEG."
About Southeast Insurance and Finance Group (SEG)
Southeast Insurance and Finance Group (SEG) is an affiliated company of TCC group, one of Thailand's largest corporations with strong financial stability. SEG offers a comprehensive range of insurance and financial products and services in Thailand for 70 years. It currently consists of 3 subsidiary companies which are Southeast Insurance Plc., Southeast Life Insurance Plc., and Southeast Capital Co.,Ltd. With total asset more than 40,000 million baht, it aims at providing integrated financial and insurance solutions for lifestyle stability and business continuity for customers and business partners.
eBaoTech was founded in year 2000 with a mission to "make insurance easy". Today, with business in more than 30 countries globally, serving over one hundred carriers and numerous agents, brokers, and other ecosystem players, eBaoTech has become a global leader in insurance technology. eBaoTech offers two groups of solutions: eBao Cloud and eBao Software. eBao Cloud provides nearly real time capability of technology adoption for insurance industry.
eBaoTech's hallmark is "Rapid Customer Success" (RCS), with a strong focus on delivering business value to its customers fast. Digital insurance is the central theme in the coming years and eBaoTech is well positioned to be a partner and enabler for insurance industry to accelerate technology adoption and move to digital age fast. For more information, please visit www.ebaotech.com.