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Ebix Wins End-to-End Enterprise Contract from Leading Life and Health Insurance Group

^{Published on 2011-04-01 04:40:19 - Market Wire}
 

ATLANTA--([ BUSINESS WIRE ])--Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has been selected to provide an enterprise wide, end-to-end system for the marketing and administrative subsidiary of a leading publicly traded health and life insurance holding Company. A definite contract reflecting this decision was signed between the two parties yesterday. For competitive confidentiality reasons, both parties agreed not to reveal the name of the Client at this time.

The deal involves implementation of multiple Ebix services working in an on-demand SaaS basis, namely EbixEnterprise, LuminX and Ebix CRM interfaced with each other to provide a turnkey end-to-end solution. Ebixa™s enterprise solution will replace four different legacy and disparate systems used by this insurance group, which had minimal integration between them.

The insurance group needed a consolidated and integrated best-of-breed enterprise system to address the diverse needs of their brokers and distributors, administration and financial business, carriers, employees, client employers and business partner channels. The insurance group selected Ebix after evaluating multiple different vendors to provide a solution that helped integrate their broker system, financial system and claims administration system.

Jim Senge, Senior Vice President of Ebixa™s health operations said, aThis contract is a good example of Ebixa™s vision of driving convergence and ensuring that data can seamlessly flow-through across different entities, processes, functionalities and channels. This will also be Ebixa™s first implementation of EbixEnterprise in the Health industry. In our vision plan, we see Ebix Enterprise as the one stop platform in the insurance industry, on which our clients could process business across different channels and functionalities for the insurance industry irrespective of whether it is Health, Life, Annuity, P & C or any other product line.a

Reminder: The Company also confirmed that the Ebix CEO and Ebix CFO Presentations at the Investor Conference today will be webcast live at 8am EST. Investors can view the presentation and listen to the audio by going to the Ebix investor Home page.

Webcast: [ www.ebix.com/webcast ]

Time & Date: 1st April 2011 @ 8am EST

About Ebix

A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (NASDAQ:EBIX) provides end to end solutions ranging from infrastructure Exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.

With 30+ offices across Singapore, Australia, the US, New Zealand, India, China, Japan and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance, while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS based software platforms, Ebix employs hundreds of insurance and technology professionals that provide products, support and consultancy to thousands of customers on six continents. Ebixa™s focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institutea™s Capability Maturity Model (CMM). Ebix has also earned ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Companya™s website at [ www.ebix.com ]