Ebix Europe named Reactions Technology Provider of the Year

JOHNS CREEK, Ga., July 06, 2018 (GLOBE NEWSWIRE) -- Ebix, Inc. (NASDAQ:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-governance and healthcare industries, today announced that its subsidiary Ebix Europe won the Reactions Technology Provider of the Year award last week at the annual star-studded gala dinner event featuring the top talent and companies in London's vibrant (re)insurance market. The other companies short listed for the Technology Provider of the Year award that Ebix Europe won, were GuideWire, JDX, RightIndem and Sequel.

The Reactions London Market Awards encompass direct insurance and reinsurance, rewarding brokers and underwriters, as well as celebrating the leading service providers for the London Market. They are awarded following an extensive selection process involving a survey and nominations, followed in turn by intense scrutiny by a top-level judging panel. The independent judges are leading respected London market executives who scrutinize each nomination to separate the best from the rest, and identify the sector's star performers.

Ebix were presented with the Technology Provider of the Year award due to their achievements in developing and supporting the PPL initiative for the London Insurance Market.

James Pring, Head of Sales, Ebix Europe, commented: "The recent announcement from Lloyd's to mandate electronic placement has seen the usage on PPL grow exponentially and we are absolutely delighted with the acknowledgment from the London Market for all the work we have put into PPL.

By the end of Q4 this year, each Lloyd's syndicate will be required to have written a minimum of 30% of its risks electronically. As such, there is an expectancy for brokers and carriers to be maximizing use of the platform, and accordingly they are now actively looking to purchase or license an ACORD gateway which is capable of sending and receiving placing messages and integrating their back-office system into PPL.

With the volume of placements increasing, the business case is clear and Ebix Europe is a fully ACORD certified gateway provider and able to offer advice on how it could work for any broking house or system vendor."

Ebix Europe delivers a large commercial insurance, specialty and reinsurance platform, EbixExchange, which provides brokers, cedants and insurers with a comprehensive portfolio of online functionality, processes and workflows to support the full (re)insurance lifecycle from quotation, binding and endorsement through claims, accounting and settlement.

About Ebix Europe

Ebix Europe is a wholly owned subsidiary of Ebix Inc., (NASDAQ:EBIX) that endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. For more information: www.ebix.co.uk

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.

With a "Phygital" strategy that combines 260,000 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 Foreign exchange, domestic & international money remittance, travel, pre-paid & gift cards, utility payments, etc., in an emerging country like India. EbixCash, through its travel portal 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