Oracle Customer Success — Unionlife Insurance Co., Ltd.

Unionlife Insurance Co., Ltd.

Unionlife Insurance Reduces Costs by 50% with Oracle Engineered Systems

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With Oracle Exadata Database Machine, we improved system response time by 2x and cut total cost of ownership by 50%. Our executives can also analyze customer data 10x faster, supporting decisions for multi-channel business and enhancing customer satisfaction.

— Chen Tao, Project Manager, Unionlife Insurance Co., Ltd.

Unionlife Insurance Analyzes Customer Data 10x Faster, Cuts Ownership Costs by 50%, and Supports Multi-Channel Business with Engineered System

Unionlife Insurance Co., Ltd., an authorized licensee of the China Insurance Regulatory Commission, provides comprehensive life insurance products and services to 70% of the population in China. Union Life has increased its total assets by 10x—from US$105 million to over US$10.5 billion—since its inception in 2005.

Union Life also launched innovative mobile services to support insurance operations. It achieved US$70 million record sales in just three days by signing up 20,000 policies for one insurance product via the mobile app, which exceeded the normal sales pace by more than 100x. To support explosive business growth, Union Life needed to improve system performance, reduce IT costs, and enhance the customer experience.

 
Challenges
  • Support multi-channel sales strategy and improve customer satisfaction by improving the OLTP performance of core applications, including insurance sales and claims systems, and enabling customers to rapidly process transactions, such as purchasing insurance policies via the mobile app, without bottlenecks
  • Enable executives to quickly analyze large volumes of customer data across multiple channels—such as online sales and various social media platforms—in real time and enhance decision-making for business strategies, such as launching new insurance products   
  • Maximize return on investment by reducing the total cost of ownership, such as the purchase, operating, and maintenance costs, for IT infrastructure
Results
  • Cut system maintenance and operating costs by 50%, including a US$60,000 reduction in annual power bills, by consolidating databases for core applications and seven other applications, such as agent management and anti-money laundering, into Oracle Exadata Database Machine instead of using disparate servers and storage systems
  • Reduced IT infrastructure costs by 50% by adopting a pre-configured, pre-integrated Oracle Exadata rather than purchasing separate database and storage servers
  • Increased customer satisfaction by improving system response time by 2x with Oracle Exadata’s ultra-fast PCI flash cards and InfiniBand technology, allowing customers to rapidly purchase popular investment products via the mobile app without delay
  • Supported multi-channel sales strategy, such as launching mobile campaigns via social media platforms, by using only up to 10% CPU capacity to process daily workloads with the new database platform, thanks to Oracle Exadata Database Machine’s extreme performance and scalability
  • Improved service quality by rapidly processing over 100,000 customer ratings and survey feedback from the WeChat mobile social platform with 700 million users, enabling executives to create analytic reports 10x faster and gain real-time insight into insurance agents’ service-level performance
  • Enhanced customer experience by deploying Oracle Partitioning to significantly improve query performance and accelerate claims processing, such as empowering customers to upload photographs and accident information via the mobile app
  • Supported better decisions for competitive business strategies by gaining ability to analyze customer information—including personal profiles, online purchasing history and interactions with insurance agents—10x faster and enabling executives to identify accurate customer value and generate more demand activities
  • Ensured continuous insurance operations by using Oracle Real Application Clusters to enable automatic failover in the event of server or storage failure and achieve high availability for core applications
  • Minimized business risk and reduced DBA workload by accelerating service requests with Oracle Platinum Services and Oracle Advanced Customer Support and providing 24/7 remote fault monitoring and periodic health checks, such as patching and configuration   

 

We chose Oracle Exadata Database Machine because it provides an integrated hardware and software solution that ensures high system performance and availability. It also helped to simplify system management and reduce significant ongoing operating and maintenance costs.

— Chen Tao, Project Manager, Unionlife Insurance Co., Ltd.

Execution

Union Life migrated legacy Oracle Databases for its core applications and seven supplementary applications—including rules engine, anti-money laundering, and agent management systems—to Oracle Exadata. With assistance from Oracle Advanced Customer Support, Union Life also ensured high system performance and availability. It completed the implementation in four months and smoothly went live with the production system.


About Unionlife Insurance Co., Ltd.

Headquarters

 
Beijing, China

Employees

 
50,000

Annual Revenue

 
US$2.32 Billion

Founded in 2005, Unionlife Insurance Co., Ltd. is China’s leading insurance provider, offering more than 40 insurance products—such as life, health, education, bank assurance, and property insurances—to 14 million customers across the country. It operates 26 provincial branches, over 200 branches across China’s main cities, and more than 500 marketing departments.

Partners

Union Life engaged Oracle Platinum Partner, Beijing Vastdata Technology Ltd. to provide onsite assistance for installation, data migration, cluster configuration, and testing.

“We chose Beijing Vastdata Technology because it is China’s first certified Oracle Exadata and Database as a Service specialist. It helped us to easily set up our database environment and get the most out of Oracle Exadata platform,” Chen said.
 

Published:  Nov 04, 2016