JOHNS CREEK, Ga., Jan. 15, 2019 (GLOBE NEWSWIRE) -- Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today made a number of key announcements in the area of Annuity exchanges.
The Company announced that it has successfully completed the implementation of its enterprise annuity exchange platform AnnuityNet4 (AN4), across its entire client base in the United States, besides signing four new contracts with Life and Annuity insurance companies in the fourth quarter of 2018.
AN4 is a highly complex complete technology rewrite of Ebix’s previous AnnuityNet platform, involving more than a hundred man-years of development time. The AN4 platform implementation across Ebix’s entire client base is especially noteworthy since it successfully reverse engineered all the client specific customizations undertaken on Ebix’s previous AnnuityNet platform. AN4 is a cutting edge and highly secure industry compliant platform that supports new transaction types for Inforce policies like withdrawals, fund transfers and policy maintenance, besides being highly configurable, and allowing Ebix clients to on-board their advisors on their own, in an expeditious manner.
Ebix also announced that it has continued to expand on its market share in the industry by signing new contracts in Q4 2018, with four life insurance companies including Fidelity and Guaranty Life, United Life and Guaranty Income Life.
The Company also announced that it has partnered with industry leading solution providers Docupace, Annuity Rate Watch and Fiduciary Exchange by integrating AN4 with their platforms, creating new avenues for revenue growth.
Ash Sawhney, President - Insurance Solutions North America said, “The upgrade to AnnuityNet4 was a major accomplishment. Being a dominant player in the Annuity exchange market, we are mindful of our position and responsibility to enhance the platform and take the industry forward. We look forward to creating more momentum in the market as it relates to electronic submissions. We also welcome the new clients and partners on the platform.”
About Ebix, Inc.
With 50+ offices across 5 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In the Insurance sector, the Company’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service ("SaaS") enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administrative and risk compliance, across the world.
