{"id":65781,"date":"2022-01-17T12:40:48","date_gmt":"2022-01-17T12:40:48","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=85351"},"modified":"2022-01-17T12:40:48","modified_gmt":"2022-01-17T12:40:48","slug":"saudi-arabia-based-walaa-successfully-adopts-ebaocloud-digitalcore-as-enabler-for-its-digital-transformation","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/saudi-arabia-based-walaa-successfully-adopts-ebaocloud-digitalcore-as-enabler-for-its-digital-transformation\/","title":{"rendered":"Saudi Arabia based Walaa Successfully Adopts eBaoCloud DigitalCore as Enabler for its Digital Transformation"},"content":{"rendered":"
SINGAPORE, Jan. 17, 2022 \/PRNewswire\/ —\u00a0eBaoTech Corporation (eBaoTech<\/a>), a world-leading digital insurance solution provider is pleased to share that Walaa Cooperative Insurance Company (Walaa<\/a>), a top 5 insurer in Saudi Arabia successfully deployed eBaoTech’s DigitalCore<\/a>\u2122 platform and launched the first batch of products on the new platform. Walaa will use eBaoCloud\u00ae DigitalCore\u2122 to manage all commercial and consumer lines of business to greatly improve its operation efficiency and obtain technology advancements in the digital age.<\/p>\n Walaa’s previous in-house developed policy admin system had been in use for over 10 years. Its insurance products were managed by multiple sub-systems. Walaa achieved over 21% revenue increase from 2019 to 2020 and realized that the legacy system needs replacement to achieve efficiency and to meet its growth aspirations for the coming decade and beyond. As such, Walaa was looking for a modern platform to centralize the management of all products and all policy admin processes from new business, party management, endorsement, claims, to reinsurance and which has strong and future proof digital capabilities.<\/p>\n eBaoTech’s DigitalCore was finally selected being a globally proven digital platform with successful references in Saudi Arabian market:<\/p>\n Business Highlights of the New Digital Platform:<\/b><\/p>\n “As part of our overall digital transformation, we are excited to select eBaoTech’s DigitalCore as our next generation policy administration platform. We are confident that the new platform will bring technology advantages for us to operate much more efficiently, react much faster to market needs with the robust Product Factory, and become more open, innovative and flexible when engage with external ecosystem stakeholders with the decoupled system architecture.” commented by Johnson Varughese, CEO of Walaa Cooperative Insurance Company.<\/b><\/i><\/p>\n “We thank Walaa for their trust on our platform and support to our team. It is amazing how well the teams from Walaa and eBaoTech have collaborated remotely throughout the whole implementation period and completed the deployment in 8 months. The new platform will provide Walaa with strong technology advantages to keep a leading position in the mobile age. We are committed to being a long-term technology partner for Walaa to support their growth and success,” added by <\/i> Tomek Bugajski, VP and General Manager of eBaoTech EMEA.<\/b><\/p>\n About Walaa <\/b><\/p>\n We take pride in introducing ourselves as one of the leading insurance and reinsurance companies in the Kingdom of Saudi Arabia with a fully paid-up Capital of SAR 646 million. We have been assigned an (A3) Insurance Financial Strength Rating (IFSR) with a stable outlook by Moody’s Investors Service, and rated by Standard & poor’s with a financial strength rating of A- and the Company has secured gcAA+ long term Gulf Cooperation Council Regional scale financial strength credit rating, indicating that we are on a robust core insurance platform and have a commendable degree of financial strength to honor our Policyholders’ obligations. https:\/\/www.walaa.com\/<\/a><\/p>\n About eBaoTech<\/b><\/p>\n eBaoTech is a global leading technology provider for the global insurance industry.\u00a0Our mission from starting in the year 2000 has been and remains to be “make insurance easy”.\u00a0Through hard work and full commitment to customer success, eBaoTech has built a strong client base in over 30 countries\/markets, covering general, life, and health insurances.\u00a0 Furthermore, 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. For more information, please visit the company website at\u00a0www.eBaoTech.com<\/a>\u00a0and the PaaS enablement site at\u00a0www.InsureMO.com<\/a><\/p>\n\n
\n