Having outgrown its on-premises database platform, the firm now runs an autonomous cloud-centric database platform in its own data centers

As part of its ongoing business development and transformation, the Great Eastern life insurance group in Singapore and Malaysia has migrated over 200TB of data from 300 on-premises databases, into a third party “autonomous database” cloud platform.

By moving its databases — which include financial product management systems, distributed commission management systems and rewards systems — onto a single integrated cloud platform, Great Eastern has met its target of automating its workloads and improving operational efficiency. 

Founded in 1908, the insurance group serves more than 16m policyholders. To support the significant growth in its customer base over the past year, the businesses wanted to modernize and automate its disparate on-premises database systems for improved scalability and enhanced performance while meeting stringent regulatory requirements. Said the firm’s managing director for Group IT, Gary Teh: “We remain steadfast in our commitment to improving customer experience with product innovation to support the changing wealth and protection requirements of our customers across the region. This involves optimizing customer journeys through redesigned processes, harnessing our digitized assets, and leveraging advanced cloud capabilities.”

Teh said migrating the databases to the Cloud has enabled the firm “to provide an efficient and more reliable platform, resulting in better user experience for our customers and financial representatives”, including the following benefits:

    • Enhanced performance, automation, and scalability
    • Simplified end-to-end data management, to enable the firm’s customers and financial representatives to have uninterrupted access to the platform anytime, with efficient performance, and in a more secure environment
    • The ability to run the database as a cloud service in its own data centers to improve compliance with data locality and compliance requirement

According to Chin Ying Loong, Regional Managing Director (ASEAN & South Asia Growing Economies, Oracle, the firm providing the cloud database migration solution: “The life insurance sector is increasingly leveraging technology to innovate, enhance consumer experiences, and boost operational efficiencies, ultimately improving individual protection and financial well-being,” and firms such as Great Eastern will be able to enjoy the flexibility and economic benefits of cloud computing in their own data centers; meet local regulatory requirements; and strengthen operations.