Ageas offers retail and business customers life and non-life insurance products. The insurer concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market.
Launched in 2000, eBaoTech provides technology to the global insurance industry, built on the mission to “make insurance easy.” The company has a client base in nearly 40 countries, covering general property & casualty, life and health insurances.
The partnership will see Ageas leverage InsureMO, an insurance PaaS platform to enable its growth via B2B2C channels. The company said this will help improve its systems and operational agility, increasing its ecosystem connectivity, and bringing its technology capabilities to the next level.
The platform is designed to “accelerate insurance innovation”, as well as improve connectivity among stakeholders, and handle the massive volume, variation, and velocity of insurance business in the “Digital Age.”
Gilke Eeckhoudt, chief development and sustainability officer, Ageas Group, said, “This capability partnership with eBaoTech brings us the agility, scalability, and cloud-based architecture in one technology platform. We were in search of a solution with a global footprint capable of supporting our digital initiatives both in Europe and Asia with assets and products that would be reusable across borders. InsureMO is a PaaS platform with proven user cases in the industry, including within our own operating companies. We will leverage InsureMO to enable connectivity and API capability for both front-end applications and back-end PAS.”
Earlier this year, InsurTech Zywave acquired Ohio-based Strategic Insurance Software (SIS), a provider of web-based agency management systems (AMS) and customer relationship management (CRM) solutions for property & casualty insurance agencies.
Also in the digital insurance space, Agentero, a digital insurance network, recently partnered with Stillwater Insurance.
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