PICC Life opens for business today after successfully implemented eBaoTech LifeSystem. eBaoTech staff worked closely with PICC staff for the implementation and completed the project in 7 months. PICC Life Headquarters and Beijing Branch Office started using the new system today.

eBaoTech LifeSystem supports all insurance businesses at PICC Life, including centralized operations for data entry, underwriting and issuing policy paper. The success of this project demonstrated once again the flexibility and scalability of eBaoTech LifeSystem.

PICC Life is a life insurance joint venture between big players such as PICC Holdings Ltd (China’s largest insurer), Sumitomo Life Insurance of Japan, Asia Financial Holdings Ltd. (0662.HK:) and Bangkok Bank (BBL.BK:).

The company is the first foreign venture to receive a nationwide license, meaning it doesn’t need further regulatory approvals to open new branches.

By combining PICC’s brand and management base with Sumitomo’s methods and technology and Bangkok Bank’s experience in selling insurance products through a bank network, PICC Life is poised to become a valuable player in the China insurance market.