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Ebix Inc. Message Board

  • twfry_2001 twfry_2001 Jun 22, 2012 11:45 AM Flag

    This might be the reason for the movement today

    This type of all inclusive deal validates RR's strategy, it also must be one of the large deals RR indicated was in the works. What is great about this type of business is once you are in, you are in. After converting all of your back-end support and development, companies do not change vendors, they commit and stick. Just look at IBM's model and how well that is holding up.

    ATLANTA, June 22, 2012 (GLOBE NEWSWIRE) -- Ebix, Inc. (EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has signed a contract with a US mutual insurance company to provide its Ebix Advantage Web Enterprise SaaS platform to the insurance company, for all its back end system needs such as rating, underwriting, policy administration, accounting, general ledger, billing and claims management. For confidentiality reasons, Ebix did not reveal the name of the insurance Company.

    The contract mandates Ebix to support the insurance company's current business and future product development as also to provide enhanced operational efficiencies for their growing agency distribution channel.

    Ebix Advantage Web is a modern and powerful pure SaaS-based, multi-lingual, multi-currency system, designed to cater to the complete range of general insurance activities such as Clients Management, Policy Administration, Dynamic rating and quoting, Claims management, Accounting, Document Management while providing an option to do comparative quoting for direct broking operations of Insurance Carriers, MGA's and Brokers.

    Jon Mayo, Senior Director- Ebix, US P&C Operations, said, "This is a large win for us. This deal will start contributing strongly to our carrier division revenues this year. We are going to continue to strive to grow our Property & Casualty (P&C) carrier division revenues at double-digit percentage growth rates annually over the next few years. This deal is a big positive step forward in that direction."

 
EBIX
14.15+0.09(+0.64%)Aug 20 4:00 PMEDT

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