Leading India based General Insurer – SBI General Expands its Digital Footprint with InsureMO, Enabling Daily Issuance of Over Half a Million Bite-sized Insurance Policies in India
eBaoTech is pleased to announce that in line with SBI General’s vision of digitization across customer journeys and processes, the company has adopted a dynamic digital platform powered by eBaoTech’s InsureMO®, thereby making the digital buying journeys seamless and enabling lesser dependencies on Core Policy Administration Systems (PAS).
With InsureMO, SBI General, a leading general insurer in India, was able to onboard digital channels for its existing retail products at a faster pace and lower costs.
InsureMO platform is inherently built to handle large variations, velocity and volumes needed to support an extensive product portfolio with its microservices based architecture. The wide variety of APIs and the configurability of the platform ensures faster time-to-market. Moderate CapEx and OpEx make such digital propositions more viable, sustainable and encourage incremental innovations across products.
Anand Pejawar, Dy. Managing Director, SBI General said, “We at SBI General, have always been at the forefront of digitization. We are consistently strengthening our digital distribution networks / channels by working on systems and processes that support our extensive network of distributors, including Bank branches, coupled with an equally large product portfolio which makes it cost effective and sustainable. We meticulously choose and work with our tech partners to ensure that we provide our distributors and end customers with the most effective, innovative latest state of art technology solutions through their preferred modes and platforms. Our partnership with InsureMO is one of such initiatives in this direction”.
“InsureMO is glad to be one of the pillars for SBI General in its growth trajectory focusing on digitalization. With our capabilities and efficiencies, we are also able to contribute with innovative approaches that further add up to SBI General’s digital proposition.” said Rajat Sharma, Chief Revenue Officer of InsureMO.
InsureMO is the connectivity and enablement platform for insurers, traditional channels, affinity partners, and FinTech/InsurTech startups. InsureMO (for “Insurance Middle Office”) is designed to accelerate insurance innovation, improve connectivity among stakeholders, and handle the massive volume, variation, and velocity of data in the “Digital Age.” InsureMO is a platform-as-a-service (PaaS) that acts as middleware for the insurance industry, freeing insurers from legacy constraints, and unlocking their ability to innovate and connect to stakeholders. InsureMO has a full set of insurance APIs and microservices for general (P&C), life, and health insurance businesses covering the entire policy life cycle. InsureMO supports Open API collaboration, is managed via Cloud Container (based on Docker and Kubernetes), and enables third parties to develop applications.
eBaoTech is a global leading technology provider for the global insurance industry. Our mission from starting in the year 2000 has been and remains to be “make insurance easy”. Through hard work and full commitment to customer success, eBaoTech has built a strong client base in over 30 countries/markets, covering property and casualty, life, and health insurances. Furthermore, eBaoTech’s intense and persistent focus on addressing the fundamental pain-points of insurance technologies through deep-tech innovation has yielded significant differentiation in the global marketplace. For more information, please visit the company website at www.eBaoTech.com and the PaaS enablement site at www.insuremo.co.jp