HCL inks pact with Chinese eBaoTech Corporation

NEW DELHI: IT services provider HCL Technologies has entered into a strategic alliance with the China-based eBaoTech Corporation, a provider of software and services for life and general insurance industry.

Under the agreement, HCL would work with eBaoTech to identify fitment of eBaoTech's products in select geographies, HCL said in a statement today.

Moreover, the companies together expect to help insurance carriers and intermediaries adopt IT solutions that would allow them to gain better process efficiencies in a cost effective manner, it added.

"We look forward to working with HCL to create significant and tangible value for insurance industry to become much faster, better, most cost efficient, and more scalable," eBaoTech CEO Woody Mo said.

Premkumar S, Corporate Officer, (Global Business Sponsor - Financial Services) HCL Technologies, said, "We are very excited about our partnership with eBaoTech as part of our product partnerships portfolio and see a lot of potential across major focus markets. As one of the leading end-to-end specialist insurance solution providers in the industry, HCL is equipped to fulfill the industry requirements by combining with eBaoTech's insurance system software capabilities."

Shares of HCL Technologies were trading at Rs 238, up 1.54 per cent on the BSE.