Shanghai - DST International (DSTi) – the leader in asset management and business process management software - announced today that Pacific-Antai Life Insurance Company Limited (PALIC) - a 50/50 joint venture between China Pacific Insurance Group Co., Ltd and ING Group N.V., with a registered capital of RMB 500 million (62,5 million US $) have signed for AWD, DSTi’s business process management solution.
PALIC will use AWD to leverage their existing system to minimise the time and start-up costs whilst they open new branches around China. PALIC already have offices in Shanghai and Guangdong.
James Kao, Vice President of PALIC said, “We will use AWD to support our business operation and improve our business management control, with the view to expanding PALIC’s operations. AWD will allow us to eliminate geographical constraints and will provide full flexibility in assigning work steps to different processing locations. Management will have a centralised view of all the client transactions on an enterprise-wide basis. We will use AWD as our solid platform for further redesign of our best practice life operations as the volumes, the organisational structure and the geographical coverage of PALIC continues to grow and change.”
Rhonda Lepsch, DSTi’s Chief Executive Officer Asia, said, “We are delighted with the rate at which we are growing our client base in China. It is a true reflection of the level of commitment we have made to that market. DSTi provides the complete range of services, including development, training, and technical, professional services and support. In fact, DSTi has the largest commitment to the workflow market not only in China but also in Asia, in terms of dedicated staff, industry and product knowledge and system support. Our knowledge and experience is unbeatable. We are able to combine our local and industry knowledge with our implementation experience so that we are able to effectively cover any Chinese requirements that are unique to life insurers operating in the PRC.”
Ms Lepsch continued: “With AWD’s out-of-the-box functionality, PALIC can realise the benefit of imaging and workflow in a much shorter timeframe. The project will require a very minimal amount of program customisation which significantly reduces the implementation time and future maintenance effort. Our consultants’ in-depth life insurance experience also ensures a quick and smooth implementation to fully address PALIC’s business requirements. The imaging and workflow system will be critical to PALIC’s administrative operation and we will provide local support to ensure the AWD systems are running smoothly in all of PALIC’s client locations.”
AWD is a proven solution in the financial services industry and is installed in over 300 organisations worldwide. In Asia, some of DSTi’s AWD clients include AEGON-CNOOC, Alliance Capital Management, JF Funds, Manulife International, New York Life and Zurich Insurance.