eBaoCloud InsureMO

eBaoCloud 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 eBao Cloud Container (based on Docker and Kubernetes), and enables third parties to develop applications.

eBaoTech is an AWS Financial Services Competency Partner.
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Insurers can now go digital without replacing their core, using InsureMO to launch digital products and channels in weeks.

Agents/brokers can use InsureMO to create their own solutions instead of relying on insurers’ inflexible legacy systems for online product availability.

Affinity partners now have an easy way to embed insurance into their business models without having to invest heavily in core systems.

Tech companies now have a fast and easy platform to market their solutions without having to build a deep knowledge of the insurance domain.

Powered by AWS, InsureMO gives insurers the ability to manage products, partners, services, and APIs, all in one place. With InsureMO on AWS, insurers can go digital without replacing core systems, and brokers and agencies can create their own solutions. InsureMO on AWS gives affinity partners an easy way to embed insurance into their business models without prohibitively costly investments, and tech companies now can immediately gain deep knowledge of the insurance domain to market their solutions.

InsureMO’s key components include product engines, and microservices for policy, claims, and payments, benefiting a wide variety of stakeholders.

• For Business Users: Define, configure, and maintain all insurance products in one common, easy-to-access location
  
• For Developers: Build the next generation of insurance experiences with the technologies you choose
  
• For Insurance Analysts: Select any one of hundreds of products from our Product Library to edit or start from scratch; map processes to meet business needs
• For Operations: Build, deploy, and automate insurance platforms with the power of containers
  

The key challenge for this life insurer was to build a scalable architecture in a short period of time while meeting all of the envisioned functional and technical capabilities.

InsureMO acted as a powerful and mature product engine to generate insurance product APIs; out-of-the-box/stateless APIs from InsureMO shortened product launch times to a few weeks and enabled Aegon Life’s self-service capabilities across various channels.

The insurer built a cloud-based, microservice-enabled, event-driven architecture that provisions a scalable back-bone for high-volume and high-velocity channels; the first launch of its group platform on an eCommerce channel was achieved within six weeks, something that would normally take months.