Study Case: NTUC Income in Implement the eBoa LifeSystem

Modernization of NTUC Income

(The Implementing of eBoa LifeSystem)

Introduction to NTUC Income:

•  A Co-operative Insurances Company formed in 1970

•   A social enterprise of Singapore National Trade Union Congress (SNTUC)

•   A homegrown company in Singapore and has 8 branches

•   Offers Life, Health, Commercial, and General Insurance Policies

•   Initiated by Dr. Goh Keng Swee

•   Initial capital was $1,2 million whereas now have assets at $19,9 billion

•   It is one of the “Big Three” insures in Singapore with 2 million costumer

•   Its current is Mr. Tan Suee  Chieh, took over from Mr. Tan  Kin Lian

•   Ranked 181st  across all industries, 36^th in position in the insurance sector

•  Received many prestigious awards and recognitions

Problem faced by NTUC Income:

    Income had problems with hour they process their insurance because it is very tedious and paper  based. The way they do business costs them time, because it takes them more days to finish a certain request for insurance, money, because they need to upgrade Hp 3000 mainframe that frequently breaks space, because it is paper based all forms were put into cartons and resulted to occupying 3 were houses. Policy writing is in batch process and information was not available to agents and advisors as a result they loss the opportunity to cross sell.

Solution for resolving the Problem 

   Income’s Problems were resolved in June 2003 when they switched to java based eBoa LifeSystem from eBoa Technology. When Income migrated their documents to eBoa LifeSystems everything was in order. All documents were scanned and stored on trusted storage devices, secured, reliable digital files that enabled strict compliance with stringent statutory requirements. Because at eBoa’s hitech features. It covered policy administration, sale management and supplementary resources. According to James Kang, CIO of Income it has everything that they were looking for a customers centric design, seamless, integration with imaging and bar code technology, a product defination module that supports new products , new channels and changes in business process. Finally, NTUC Income had the lower cost and much shorter time for implementing the eBoa LifeSystem in their business.

     Source: Management Information Systems 12ed: Kenneth C. Laudon and Jane P. Laudon: 
                 London 2012. (Study case was presented by Erna Safriana and Riezky Ryatun Putri).