eBaoTech LifeSystem is an insurance software suite that gives insurers centralized data and a customer-centric view, which means that implementing regulatory changes will be easier, and customer data across product lines and sales channels will be available on one system.

According to eBaoTech, its policy administration system will be used to manage Hanwha Life’s traditional and investment linked life products. Hanwha Life business units will also be able to launch new products and add sales channels. The system is expected to go live in September 2013.

Commenting on the implementation, Multicor Life president and director, Francis Hyun, said: "eBaoTech has a strong track record of implementation success in Indonesia. We are impressed by eBaoTech’s insurance industry expertise and their solid understanding of the Indonesia market. We look forward to working together to achieve a successful implementation."

Founded in 1946, Hanwha Life Insurance provides life insurance and other related insurance services in South Korea and internationally. The company sells insurance products for individuals, which include savings type, group, variable, annuity, children’s, and protection-type insurance comprising whole life and critical illness insurance, as well as insurance for the disabled.

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