Plans joint delivery of affordable mission critical web-based core insurance process management solutions

Noida, UK, Sydney, July 27, 2009 - HCL Technologies Ltd ("HCL"), a leading global IT services provider, today announced its strategic alliance with eBaoTech Corporation, a leading provider of new generation software and services for life and general insurance industry. The partnership reiterates HCL’s commitment to provide Business Aligned IT, thereby providing its customers the most optimal platform aligned to their business goals.

HCL will work with eBaoTech to identify fitment of eBaoTech products in select geographies. Customers will now have access to a single integrated entity that can help them modernize their core business management systems, offer them best of breed functional product capability, technology and, world class service quality ensuring business stability in today’s environment, a risk-sharing attitude and a global reach through cost effective solutions.

Speaking on the partnership, Woody Mo, CEO of eBaoTech Corporation, commented, "We are pleased to collaborate with HCL to leverage HCL’s strong capabilities in business management, IT outsourcing, and program management. Together we will help insurance carriers and intermediaries adopt innovative IT solutions that would allow them to gain better process efficiencies in a cost effective manner. 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."

Premkumar S, Member of Management Council & 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. Today organizations need mature, affordable and innovative core insurance process management solutions that are technically sound, aligned towards meeting the business requirements, provide better performance in servicing end users, and control operational costs. As one of the leading end to end specialist Insurance solution providers in the industry, HCL is uniquely equipped to fulfill the industry requirements by combining with eBaoTech’s cutting edge core insurance system software capabilities. We have already seen early success for the partnership as our first joint proposition was accepted as the preferred option for one of the most prestigious and large core insurance platform modernization projects in India. We are confident of replicating this success across other geos by offering transformational value to our customers jointly".

HCL has multiple dedicated Insurance Solution Development Centers, a state-of-the-art Claims Center of Excellence (CoE) and key BPO capabilities in Life and Pensions. With a proven track record of delivering complex implementations projects and focused investments in solution engineering, HCL combines specialist insurance business transformation skills with the stability & scale of the world’s largest IT services providers.