SOA News Desk
Software AG Supports Ping An Insurance Group’s Business Expansion
Predicts 20% – 25% growth rate with 40 million plus customer base
By: SOA News Desk
Jan. 10, 2009 08:15 AM
Software AG announced that Ping An Insurance of China will use its webMethods product suite to support its business expansion plans. Ping An will drive its 20-25% growth plans through offering full insurance, banking and asset management services to over 40 million customers in China.
The new "one account" service offering one-stop-shopping of Ping An's full range of financial products was launched in July and within two months 100,000 customers have subscribed to the program.
Ping An is using Software AG's webMethods product suite in developing the IT platform needed to support its multi-product, multi channel, business expansion strategy.
Ping An's customers across its multiple business units include 40 million life insurance contracts to over 10 million P&C insurance contracts. Car insurance policies alone grow by more than 30,000 contracts a day. The integrated technology platform was founded to present one customer interface to this diverse user base and to increase and mange the many cross-selling opportunities.
Beginning in 2005, Ping An has worked to systematically streamline its business operations, using Software AG's webMethods to integrate key enterprise systems, including its Customer Information File, which synchronizes client profile information between different applications across its various subsidiaries.
Ping An's initial selection of webMethods was based upon its ability to deliver an integration and process management platform within a comprehensive Service-Oriented Architecture. This allowed the company to meet a variety of system integration and process automation requirements.
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