ystem LifeSystem - eBaoTech

LifeSystem
The LifeSystem Suite has been developed over the last 10 years into a highly mature solution,
currently supporting more than 20 million life insurance contracts in 36 installations across 16
countries globally.
“eBaoTech's LifeSystem helps us to leverage our centre of competence for innovative insurance
solutions in Luxembourg in different markets and distribution channels.”
Swiss Life
www.eBaoTech.com
info@eBaoTech.com

2
eBaoTech Product Offerings for Life Insurance
LifeSystem
Our offering for life insurers consists of our flagship LifeSystem Suite, supplemented by components that can
be also installed separately like SalesPlatform, LifeClaims and others. In addition, we also offer specialized
product Suites for Group Life and Life Insurance Wrappers based on the same architecture as LifeSystem.
“eBaoTech’s SaaS offering based on
LifeSystem is very useful for us to
execute our vision and strategy
especially in the economic
conditions that is full of uncertainty
and also very competitive insurance
market. eBaoTech SaaS definitely
will bring WanaArtha Life to
different level of customer service
where we can offer faster and more
convenient service towards our
customers.
During installing period, the solid
cooperation between eBaoTech
team from
Shanghai-Singapore-Indonesia with
our dedicated team is the key of
success.”
Managing Director,
WanaArtha Life
GroupLife
AssetLink
Typical Sub-Suite Component Offerings
SalesPlatform
Claims
End-to-End Suites
eBaoTech LifeSystem
Reinsurance
Product Definition
The LifeSystem Suite has been developed over the last 10 years into a
highly mature solution, currently supporting more than 20 million life
insurance contracts in 36 installations across 16 countries globally. It is
a modern Policy Administration solution that supports the complete
process of managing life insurance products, contracts, payments and
claims in one modular solution.
The application is web-based and requires only a browser to operate,
making it fully location-independent, and is built using SOA principles,
allowing easy integration even into the most complex environments.
With its build-in configuration tools, users can highly tailor the
behavior of LifeSystem to various environments. We have installed
LifeSystem in Greenfield startup operations in many countries, but also
in complex legacy replacements in advanced markets like Japan and
Europe. Scalability has been tested beyond 25 million contracts with
good performance. We continue to invest thousands of person days
each year to make LifeSystem the globally leading end-to-end life
insurance operations system.
In addition to the LifeSystem Suite and its subcomponents, we also
offer two specialized systems based on the LifeSystem architecture:
• AssetLink, which is an application to support mainly
“wrapper”-type policies for the affluent client segment. AssetLink is
a derivative product of LifeSystem with additional comprehensive
functionality to support the management of custodians and
independent assets, with full IFRS reconciliation capability on
individual trading level.
• GroupLife, which is a dedicated platform for group life schemes in
both head count based and name based group life insurance
businesses. Certain GroupLife products can also be mapped on our
standard LifeSystem.

Benefits of LifeSystem at a Glance
Substantially lower operating cost
Leverage web technology to eliminate decentralized
processing costs and provide high level of
automation of processes
Advanced customization and integration
capabilities
Tools and functions support data, process and user
interface configuration, coupled with SOA
architecture to enable easy integration into the
most complex environments
Significantly improved customer service
Centralized customer information across product
lines and sales channels to enable a single customer
Key Features
Supported products
Most mainstream life insurance products are
supported, including traditional term, whole life,
endowment, investment linked, universal life, variable
universal life, variable annuity, accident and health.
Products have been implemented in emerging
markets and in advanced markets such as Austria,
Japan, Singapore.
Supported channels
LifeSystem enables selling and servicing in multiple
channels, such as agents and brokers, call centers,
Internet, banks and other external channels through
services offered by the integrated eBaoTech
Enterprise Service Bus and enhanced with portals for
easy frontend customization for different channels and
user groups. Our SalesPlatform enables frontend
capabilities in a highly intuitive way and its frames can
be embedded into third-party websites.
End-to-end functions
LifeSystem truly covers the entire lifecycle of life
insurance operations, including quotation and new
business submission, underwriting, policy issuance,
alteration and service, renewal, claims, reinsurance,
billing, collection and payment, sales channel
management, party management, and many supporting
functions, e.g., reporting and document management
with multiple language and multiple currency support.
Flexibility
Based on eBaoTech’s Insurance Common Platform
(iCP) which includes a rating engine, a rule engine, a
LifeSystem
view. True end-to-end support including quotation,
new business, customer service, payments and
claims to seamlessly manage life insurance contracts
without the need to switch applications
Dramatically reduced product lead-times
Fully parameterized product definition subsystem
enables quick new product configuration or product
modification
Easy enhancement and maintenance
capability
Open standard technology allows cross-platform
enhancement and development, multi-entity and
multi-currency capability
formula engine, a workflow engine and user
interface configuration capability, eBaoTech
LifeSystem is highly configurable and flexible,
enabling fast launches of products, rule and
process changes in most cases without IT
coding.
Automation and remote collaboration
Given its web-based nature with zero client-side
installation, LifeSystem enables a high degree of
automation and easy support for remote
collaboration or centralization to reduce
operation cost and optimize resource utilization.
Coupled with its multi-entity capability,
LifeSystem can be used as a factory to serve
multiple operations and geographies on one
instance.
Mobile devices enablement
Quotation function is enabled on smart phones
so that agents can generate quotation directly
from eBaoTech LifeSystem for products defined
there without additional programming work.
The new SalesPlatform subcomponent allows
access in an intuitive way on any mobile device,
including iPhone, iPad and Android devices.
Configurable audit trail and Solvency II
capabilities
Fully configurable audit functionality and high
level of data granularity satisfy rapidly growing
need for data to do Solvency II tests outside the
system.
3 5

4
Functionality Overview
eBaoTech LifeSystem supports most major products for life insurance:
•
•
•
LifeSystem
Traditional Life: Term, Endowment, Whole Life, Mortgage Life, Waiver of Premium, and Fixed Annuity
Investment Life: Investment Linked, Universal Life, Variable Universal Life, and Variable Annuity
Accident and Health: Accident, Critical Illness / Dread Disease, Hospitalization, Long Term Care, and
Major Medical
SalesPlatform
Point-of-Sale
Sales Automation
1 2 3
4
eBaoTech End-to-End Suite for Life Insurance
1
Recommended Components
for Stand-alone Adoption
Role-based Multi-channel Access (Intranet & Internet)
New Business
Fulfillment
Policy Issuance
Policy Printing
Configuration
(RMS, FMS, UIC, Workflow, etc.)
Collaboration
(Portal, Mobile, Input/Output, etc.)
Service
Customer Service
Dividend & Fund
Survial
Reporting & Analytics
Sales Channel Management
Underwriting
Billing/Collection/Payment
Product Definition
Party Management
Insurance Common Platform (iCP)
Claims
Claims
Foundation
(Datasource, Utility, Security, I18n, etc.)
Integration
(Service Bus, BPM, Batch Scheduler, etc.)
3 rd Party Systems
2 3
Reinsurance
Reinsurance
(General Ledger, Data Warehouse, Bancassurance,
Website and etc.)
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LifeSystem
LifeSystem can be grouped into the following major components based on different functionalities:
Product Definition
The high flexibility and configurability provided by the
product definition component accelerates the launch of
new products through easy to use screens and tools.
Insurance product lines are employed to allow variations
of each product to be defined from initially launched
products. Formula-driven and table-driven calculations
support complex actuarial methods, including the most
demanding advanced markets calculations, supported by
highly intuitive Formula Management and Rule
Management tools.
New Business Fulfillment
Integrated with image technology, this component adopts
a comprehensive workflow for steps required to process
new business applications. All required steps from
quotation through data entry, automatic and manual
underwriting to policy issuance are handled, and
processes can be adapted with workflow configuration
tools. The screen contents and the workflow steps can
vary depending on the type of product selected and the
type of channel submitted, and can be configured further
using dynamic tables.
Customer Service
This component provides the types of mainstream
alterations that are required throughout a policy’s
lifecycle. It also includes complete claw-back
functionalities for transactions that require reversals,
auto non-forfeiture option disposals and client queries
for surrender values and premiums due. Over 60 policy
alteration types are supported.
Claims
This component provides functionalities such as claims
registration, acceptance, evaluation and approval. During
the evaluation process, claims officers are guided by the
automatic calculation of claim payout amounts based on
the life contract, the customer’s claims experience and
any required deductions. Risk accumulators are used to
support claims calculations for complex Accident &
Health products, for example, a configurable risk
accumulator stores claims limits defined in the product
definition and accumulates historical claims information
to help the operator to make accurate and fair decisions
for each claim case.
Survival Payment
The Survival Payment component supports full
processing of scheduled maturity, survival payment and
annuity installments and payments. The system
automatically calculates the maturity amount, survival
payment amount and annuity installment amount and
passes it on to our payment system or to a third party
component.
Dividend and Fund
This component supports the declaration and allocation
of bonuses for various dividend products. Bonus types
include cash bonus, reversionary bonus and terminal
bonus. The fund component supports the automatic fund
transactions for investment products and can be
seamlessly integrated to an external fund pricing system
for greater capabilities in automated fund transactions
and pricing.
Reinsurance
The Reinsurance component supports reinsurance
outwards business. It collects the data from other
components such as new business, customer service and
claims, calculates the cessions automatically and
generates facultative disposal cases.
Underwriting
The Underwriting component supports all underwriting
requirements from other components like new business,
customer service and claims, with a range of
underwriting decisions, extra premium loadings,
automatic letter generation for non-standard cases, and
many more. This component includes manual and
automatic underwriting capabilities, which can be
configured using our Rule Management System. In
addition, integration with an expert underwriting system
is supported.
Party Management
This component allows the set-up and management of
entities including individual customers, organizational
entities, hospitals, medical networks, individual agents,
agent organizations and brokers, insurance and
reinsurance companies. This component centralizes roles
and relationships, and enables comprehensive searches
within each user’s authority. It is possible to break down
the entities from party level to policy level, product level
and transaction level, providing full transparency of a
client’s portfolio.
Billing Collection & Payment
This component manages real-time financial records. It
provides functionalities and auditing support for all
receivables and payables-related work, which includes
various premium collection and disbursements methods,
as well as accounts receivable and payable records for
premiums and claims. It also provides interfaces to
handle transactions through direct debit, credit cards and
other payment modes. In addition, this component
provides flexible posting rules and interfaces with various
third party general ledger systems such as SAP or Oracle
Finance.
Channel Management
The Channel Management component provides a
standardized approach for the insurer to efficiently
manage different sales channels, including agents, brokers,
bank branches and direct channels. New distribution
channels can be easily set up with their respective
commission ratios. Complex agency structures can be
mapped and managed, including the transfer of agents and
their policy portfolios.
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6
Technical Overview
N-tiered SOA architecture, using Enterprise Service Bus
Multi-component integrated
Visual Configurability
Paperless & Configurable Workflow Collaboration
Rule-based automatic processing
Service Oriented Architecture
SOA infrastructure and tools
Easy service exposure and reusability
Existing functions can be easily plugged in and
routed to different channels
eBaoTech ESB can be installed and upgraded
separately
Business Process Management
JBPM open-standard engine with eBaoTech
enhancements
Extendable task assignment mode
Easy to construct and reuse services through
integration with eBaoTech ESB
Ability to select different process templates
according to decision tables and relativity
Graphic process designer and status monitor
Business Intelligence and Reports
eBaoTech Insurance MIS with Insurance Enterprise
Model and Analysis Data Model
Built-in KPI dashboards with configurability
Integration with external Business Intelligence (BI)
tools supported
User Interface Configuration
Run-time engine
Page layout
Fields display attributes
Fields validation rules
Page preview
Formula Management
Graphic formula compositor
Run-time engine
Abundant pre-defined functions for calculation and
open for customer enhancements
Immediate testing through formula definition
process
Import and export functions
LifeSystem
Rule Management
Human language rule descriptive scripts
Graphic rule compositor
Run-time engine
Flexible rule management structure
Import and export functions
Performance
Servers are clustered and load-balanced,
which allows additional capacity to be added
easily on each level of the n-tier architecture
Performance and scalability tests by HP and
IBM available upon request
Availability
Clustered server configurations enable high
availability
Scalability
Both vertical and horizontal scalabilities are
supported
Maintainability
Approach based on standard N-tiered
architecture directly mapped to N-tier
application architecture
Flexibility
The system allows for easy evolution to
different topologies in the future, for instance
separation of internet versus intranet traffic if
internet volumes grow large.

Example Case Studies
Implementing a pan-European insurance
solution
“eBaoTech's LifeSystem helps us to leverage our centre of
competence for innovative insurance solutions in Luxembourg in
different markets and distribution channels.”
CEO, Swiss Life Products Luxembourg
Background
Swiss Life, one of the leading pure-play life and pensions
insurers in Europe had the intention to launch
next-generation individual life products in a more
standardized way across multiple European countries,
focusing on variable annuities and similar products.
The Business Challenges
Initially, the IT implementation was launched on the existing
inhouse legacy system based on an older kernel. However,
the cost and speed of this approach, having launched the
first products for markets in Switzerland and Germany,
proved too costly, too slow and generated large testing
efforts for all teams which were not compatible with the
new business model.
Why eBaoTech was Chosen
Convincing Unit-linked and Variable Annuity Capability
of LifeSystem
Attractive total cost over a 5-year horizon including
license, maintenance, implementation cost to launch
inmultiple markets
Flexibility of application with main focus on speed to
market for new products and multi-country capability
Comfort with eBaoTech to deliver on promises, to
understand business and to work with teams based in
Luxembourg, Switzerland, Germany and other
countries in multiple languages
The Innovative Solutions
Taking advantage of the web-based nature of LifeSystem
by pushing functionality to the front
Taking full advantage of “out of the box” functionality
with restricted customization
Agile development and configuration instead of black box
One instance – multiple countries
The Results
Swiss Life went live with LifeSystem at the beginning of
March 2010 after 9 months of implementation with an
innovative variable annuity product for the Austrian Market,
delivered through a unique factory model. Swiss Life is
offering this new generation of life insurance products with
flexible guarantees through its Factory in Luxembourg,
where policies are underwritten and serviced, but actually
sold via various distribution channels across multiple
countries in Europe, as a first step through AWD and other
brokers in Austria.
LifeSystem
Expanding rapidly into new emerging
markets
Background
A leading MNC life insurer with its Headquarters in the US
distributes individual and group life, savings products through
its own agents and telemarketing centers, as well as banks,
brokers and a variety of sponsors. It decided to aggressively
expand into emerging-market countries throughout Asia,
Latin America and the Middle East in 2005.
The Business Challenges
High start-up and development costs for the young and
growing operations with the traditional model and with
traditional software vendors
Dynamic markets requiring flexibility to succeed in each
local market
Capability to win in different competitive environments in
each territory
Why eBaoTech was Chosen
In 2005, eBaoTech has already proven its capability with high
quality service and low total cost to provide an innovative
insurance solution to various Asian insurers. As this insurer
wanted to compete with other insurers in emerging markets,
eBaoTech was a natural choice. A global license schedule and
implementation agreement was negotiated and signed to
create predictability and scalability for both sides.
Solution – an innovative core system to support rapid
expansion
1. Relevant Benefits of LifeSystem
Innovative product capability
Accelerated speed to market for new products
Flexibility of application supporting a variety of distribution
channels
Multi-country capability and proven implementation track
record
2. Low Risk and Cost
Stable system without serious defects
eBaoTech as system provider understands business well
Delivers on promises
Low total cost of ownership, including license, maintenance,
implementation cost to launch in a growing number of countries
The Results
1. Business Volume Growth
New business policies increased rapidly every year on
eBaoTech’s systems and in 2009 alone new business
policies processed were over 300,000.
Total policies being administered on eBaoTech systems
with this client are approaching one million in 2010.
2. Rapid Expansion in Asia Pacific: till 2010, eBaoTech
LifeSystem has managed to support this life insurer’s
operations in China, Vietnam, Taiwan, Egypt, UAE,
Thailand, Indonesia, Brazil, Mexico and is being rolled out
into other markets. The flexibility of the System has
provided the client with a strategic advantage in starting up
new businesses in such a rapid succession at modest cost.
7 5

eBaoTech Corporation
www.eBaoTech.com
info@eBaoTech.com
SalesPlatform
About eBaoTech
LifeSystem Impressions
Homepage
LifeSystem
Product Configuration
eBaoTech delivers standard-based, highly configurable insurance software suites to both property
and casualty (P&C) and life insurers. Its future-proof product offerings enable insurers to realize
the cost-effective, scalable, flexible and highly automated insurance operations in the ever changing
environment. With offices in nearly ten countries across Europe, Asia and the Americas,
eBaoTech has an extensive global coverage to serve leading insurance companies.
Copyright © 2010 eBaoTech Corporation. All Rights Reserved. Any and all product name(s) and content(s) mentioned in this document are the property of their respective owners.
This document may also include the trademarks, trade names, and service marks of companies other than eBaoTech Corporation. Permission in writing to copy, reprint, republish
and/or distribute this document in whole or any part hereof for any purposes must be obtained in advance from eBaoTech. LS brochure V201005
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