In China, Taikang Life Insurance & IBM Plan Joint Development of “Smart” Databases

In China, Taikang Life Insurance & IBM Plan Joint Development of “Smart” Databases

Today, IBM and Taikang Life Insurance Company, Ltd., China’s fifth largest life insurance company, announced a collaborative research project to help solve some of the greatest challenges facing the worldwide insurance industry today.

Taikang Life will utilize the worldwide talent and resources from IBM’s China, Almaden and Tokyo labs to improve the performance and usability of business intelligence applications embedded in the insurer’s federated database systems. The goal of the project is to enable the use of information as a service by enhancing their platform for more efficient sharing of information, improved operational efficiency and as a result, better customer service.

Taikang Life is undertaking this project to gain a competitive advantage through improving the efficiency of its insurance processes while reducing costs. The project will leverage Taikang Life’s service oriented architecture (SOA) that ties disparate data together, providing a clear, real time view of customer information.

“We have chosen IBM as our technology partner because we know that to outpace fierce competition in China we need to manage our information as an asset and find ways to turn information into innovative services that return value for our customers while improving our bottom line,” said Taikang Life’s CFO and Chief Actuary, Yin Qimin.

Read the complete Press Release