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Ebix Signs Fidelity & Guaranty Life Insurance Company to WinFlex Illustration Platform

JOHNS CREEK, Ga., Feb. 03, 2020 (GLOBE NEWSWIRE) -- Ebix, Inc. (EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced that it has partnered with Fidelity & Guaranty Life Insurance Company (F&G) to implement Ebix’s WinFlex Web life insurance illustration platform.

The partnership will enable F&G to add its products to the WinFlex platform so that third-party distributors can illustrate those products and run advanced sales concepts. WinFlex supports advanced sales features such as split dollar, executive bonus and group carve out. Additional WinFlex features that F&G will benefit from include:

  • Full advanced sales capabilities, including product comparisons and composite for multiple clients
  • Participation of more than 30 carriers
  • No need for software installation or maintenance by end users
  • Ability of carriers to register users online
  • Usage statistics broken down by producer, by product, and by concept
  • Real-time views of usage, trends and more

Steve Sanders, Vice President Life Distribution at F&G, said, “WinFlex is the industry standard for illustration comparisons for life insurance brokerage agencies. The platform not only makes it easier to facilitate the comparison of carrier products, but also improves the overall experience for agents and case design specialists. We are excited to partner with Ebix to bring F&G life products to the WinFlex platform.”

Ash Sawhney, President - Insurance Solutions North America, said, "We are excited that F&G is modernizing its approach to how it offers its products and services to its distribution partners. Our Illustrations platform allows companies like F&G to offer a seamless, convenient experience to its sales channel to pave the way for a faster sale while reducing cycle times and manual processes.”

About F&G

"F&G" is the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States outside of New York. Life insurance and annuities issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA. F&G has been around since 1959 and, today, provides annuities and life insurance for nearly 700,000 people across the United States.

About Ebix, Inc.

With 50+ offices across 5 continents, Ebix, Inc., (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 administration and risk compliance services, around the world.

With a "Phygital” strategy that combines 320,000 physical distribution outlets in many Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, Forex, travel, pre-paid & gift cards, utility payments, lending, etc., in an emerging country like India. The Company’s Forex Exchange has a dominant market share of India’s airport Foreign Exchange business encompassing 32 international airports like Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Goa and Kolkata International airports, while conducing over $3 Billion in GMV. EbixCash, through its travel portfolio of Via.com, is also one of Southeast Asia’s leading travel exchanges with over 110,000 distribution outlets and 8,000 corporate clients processing over 24.5 million transactions every year. For further details, visit www.ebixcash.com.

Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com .

CONTACT:

Darren Joseph or Guatam Sharma
IR@ebix.com or 678-281-2027

David Collins or Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com