eBaoTech Case Study

eBaoTech Corporation, a well-known independent software vendor (ISV) to the insurance industry, was established in 2000. Headquartered in Shanghai, China and with 14 overseas branches, eBaoTech hires more than 1,600 employees, including more than 1,200 technical personnel, and conducts businesses in over 30 countries and regions around the world.

The mission of eBaoTech is to make insurance easy. Amid the current tide of digitization of the insurance industry, eBaoTech believes that digital insurance is essentially Connected Insurance. To address the issue of embedding insurance into massive non-insurance businesses and daily life scenarios, eBaoTech is committed to technologically empowering innovation and connectivity in the insurance industry and meeting the needs of insurers in the digital age to handle massive businesses and high-frequency changes and their demands for personalized products.

eBaoTech keenly captured the business opportunities of “Internet plus insurance” and “cloud-based middle office” as early as around 2015 during its communication with some customers. The current business of eBaoTech covers InsureMO, the core of its business development strategy, and a string of insurance SaaS/applications.

InsureMO caters to a series of industrial ecological players such as insurers, brokers, agents, InsurTech startups, and digital channels. Based on the cloud-native and microservices architecture, it builds modules around scenarios like insurance policies, claims, and payment, and connects front-end and back-end demand in both directions through open API connectivity, helping innovating industry applications and keeping expanding business opportunities.

Based on AWS, eBaoTech rapidly deployed the InsureMO platform that provides insurance services and APIs for various ecosystems in the insurance industry. As the middleware, InsureMO connects the existing core systems of insurers and the external ecology, provides APIs for the external ecology, and promotes agile development and innovation in product application services.

AWS is favoured by eBaoTech for the following key reasons:
Firstly, in view of the rich variety, maturity and stability, and large user base of AWS, products developed based on AWS are more easily accepted by most customers on a global scale. Moreover, the AWS team’s strong and reliable technical support has enabled eBaoTech to efficiently wipe out obstacles in product implementation, which reflects the excellence of AWS in both efficiency and user experience.

Secondly, for the insurance industry which values data security and compliance, the full range of certified security strategies provided by AWS, from Amazon Virtual Private Cloud (Amazon VPC), AWS WAF, Operating System (OS), Amazon Relational Database Service (Amazon RDS), Amazon Simple Storage Service (Amazon S3), and AWS Transit Gateway to Access Control List (ACL), can meet the compliance requirements of the world’s major financial companies and insurers.

Thirdly, AWS well addresses insurers’ emphasis on the high availability and scalability of their business platforms in the digital age. InsureMO is based upon microservices and containerized architecture and certified by Cloud Native Computing Foundation (CNCF) as a Kubernetes based platform, and supports cross-regional deployment. At the IaaS level, the extensive multi-Availability Zone setup and the auto scaling ability of AWS allow the InsureMO platform to handle various uncertainties effectively and obtain outstanding availability and scalability.

Services in use include Amazon Elastic Compute Cloud (Amazon EC2), Amazon S3, Elastic Load Balancing, Amazon Elastic Block Store (Amazon EBS), Amazon Simple Notification Service (Amazon SNS), AWS Lambda, AWS WAF, Amazon RDS, Amazon CloudFront, Amazon CloudWatch, Amazon Key Management Service (Amazon KMS), and AWS Security Hub.

InsureMO is a cloud-native product that is fully suitable for Internet application scenarios. AWS has well supported the deployment of InsureMO globally, expediting business innovation and development of eBaoTech while creating a new space for imagination for the digital transformation of the entire insurance industry.

Since data security is one of the top concerns of customers in the insurance industry, security is a critical consideration for eBaoTech in product design. Based on AWS, InsureMO integrates powerful security solutions, including security products and services such as Security Hub, AWS WAF, and certain DLP（Data Loss Prevention）tools of third parties, thus guaranteeing the security of business data and applications to the greatest extent.

With the help of Amazon KMS, InsureMO supports the easy creation and control of keys used to encrypt or digitally sign data to ensure that regulatory and compliance requirements are met. In addition, leveraging the wide range of financial industry compliance qualifications of AWS in the global market, customers of eBaoTech may, based on AWS, directly provide relevant qualification certificates during audit without spending a lot of time and attention on explaining technical details.

In terms of cost optimization, eBaoTech has increased the resource utilization rate through the use of Savings Plans. In the case of any required change in infrastructure, eBaoTech does not need to worry about the adjustment of Reserved Instances (RI) and other works, which saves about one fourth of the overall costs.

AWS has witnessed financial service innovation of eBaoTech and provided impetus for the deployment of the InsureMO as middleware. For most customers of eBaoTech, the public cloud version of InsureMO is their first choice. With stable and mature technology and timely and efficient service support response, AWS has helped eBaoTech cut down the hidden costs of early business promotion and subsequent customer maintenance.

Through hard work and full commitment to customer success, eBaoTech has built a strong client base in around 30 countries or markets, covering general, life, and health insurances. 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. In its next step, eBaoTech will continue to make best use of the capabilities of AWS Serverless platform to enable InsureMO to accelerate the connectivity and innovations in industry ecosystem.