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CST: 13/12/2019 02:30:24   

CSAC Excess Insurance Authority Enters Agreement with Ebix to be the Sole Provider of Certificate of Insurance Management Services, for its Member Entities across the State of California

43 Days ago

JOHNS CREEK, Ga., Oct. 30, 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 announced today, that the CSAC Excess Insurance Authority (EIA), a California Joint Powers Insurance Authority (JPA) has chosen Ebix to offer risk and compliance solutions to all its members. CSAC-EIA and its members will be utilizing the RCS’s CertsOnline platform to manage their incoming 3rd party insurance certificates, improve visibility into risk exposures, increase insurance compliance and minimize administrative costs.

The EIA provides effective risk management solutions to help California public entities proactively control losses and prepare for various exposures. The EIA is internationally recognized as a leading risk sharing pool for its member-directed operating philosophy and commitment to member fiscal sustainability.

Ebix RCS is seen as the largest provider of insurance certificate management services in North America working with over 750 organizations across 27 different industry verticals and manage millions of certificates annually. RCS services help in achieving a comprehensive compliance status for every certificate of insurance that a business requires. Ebix’s certified risk professionals and consultants have been helping organizations minimize their 3rd party risk and exposure for over 25 years, while also automating their insurance compliance process, leading to minimal claims and administrative costs.

Charles Williams, Director of Risk Control at the EIA said, “We are happy to announce that we have entered into a long-term agreement with Ebix to serve as our sole provider of Certificate of Insurance Management services to EIA members. Following an extensive market review conducted by our staff, we concluded that Ebix was poised to provide the best balance of functionality and value.”

Ash Sawhney, President - Insurance Solutions North America said, "We are honored to add CSAC-EIA to our list of prestigious clients. Using our expertise spread across more than 27 industry verticals, we are confident that we can help EIA and its members to fine-tune its risk compliance approach and bring increased operating efficiencies to the fore. We intend to ensure that we can make the experience a smooth and efficient one for both EIA and its hundreds of members.”

About CSAC Excess Insurance Authority (EIA)

Headquartered in Folsom, California, CSACEIA is a member-directed risk sharing pool pf public agencies committed to providing risk coverage programs and risk management services, which drive member stability, efficiency, and best practices. Formed in 1979, the EIA serves over 2,000 public entity members including 55 counties, nearly 70% of the cities in the state, as well as numerous educational organizations, special districts, housing authorities, fire districts, and 27 other Joint Powers Authorities across California.

About Ebix, Inc.

With 50+ offices across 6 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, Ebix’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, foreign exchange (Forex), travel, pre-paid & gift cards, utility payments, lending, wealth management etc. in India and other markets. EbixCash’s Forex operations have emerged as a leader in India’s airport Foreign Exchange business with operations in 32 international airports including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction value per year. EbixCash’s inward remittance business in India conducts approx. $6.5 billion gross annual remittance business, confirming its undisputed leadership position in India. EbixCash, through its travel portfolio of Via and Mercury, is also one of Southeast Asia’s leading travel exchanges with over 2,200+ employees, 212,450+ agent network, 25 branches and over 9,800 corporate clients; processing an estimated $2.5 billion in gross merchandise value per year. For more information, visit the Company’s website at www.ebix.com 

CONTACT:

Darren Joseph
IR@ebix.com or 678 281 2027

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

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