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Hexaware Technologies, a provider of IT and BPO services and consulting, has announced a global partnership with eBaoTech, a provider of a suite of core application software and services for life and general insurance. This alliance will enable Hexaware to implement and maintain eBaoTech products for insurers in the UK, North America, European Union, and other select markets.

The current economic conditions, changing regulatory environment, competitive pressures, and customer needs are driving insurers to look at increased usage of technology. IT will help insurers improve their underwriting by ensuring correct pricing of policies as well as enable them to retain accounts for the entire length of the policy duration by focusing on customer retention strategies. This will increase the demand for packaged solutions with modern technology and innovative delivery models. The Hexaware and eBaoTech partnership is intended to address this need with a suite of offerings under one umbrella, bringing value in terms of faster implementation, greater stability, and reduced costs leading to greater ROI.

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