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CST: 21/08/2019 09:42:22   

NEOS Life Deploys Ebix Life Insurance Sales & Administration Solution in Australia

9 Days ago

JOHNS CREEK, Ga. and SYDNEY, Australia, Aug. 12, 2019 (GLOBE NEWSWIRE) -- Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-learning and healthcare industries, today announced that NEOS Life has deployed Ebix OneOffice as their Life Insurance sales and administration solution in Australia.

The implementation of this comprehensive solution to support the NEOS business was achieved in a short period of nine months. This included deployment of an Adviser portal, sales administration including tele-underwriting, integrated underwriting engine, commissions processing, reinsurance reporting and CRM and data warehouse integration. Ebix is hosting the turnkey solution that includes synchronizing data between Ebix OneOffice, Ebix SmartOffice CRM for the insurance industry and the NEOS data warehouse.

Brett Yardley - Managing Director, NEOS Life said, “NEOS Life is extremely happy to partner with the Ebix OneOffice team. In a very short time, by industry standards, we’ve worked together to launch an adviser portal integrated with the UnderwriteMe underwriting engine and are therefore able to deliver straight through processing capability from day one. Feedback from the launch of the adviser portal to our founding group of advisers has been very positive. I can definitely say our decision to select and base our proposition on the Ebix OneOffice solution has been very successful.”

Philip Fourie – Vice President, Ebix Australia said, “Ebix OneOffice shifts the paradigm from the traditional back office and front office to OneOffice. Our deep industry consulting experience, API driven architecture and proven local track record has seen Ebix OneOffice successfully implemented at four new local Life Insurance sites over the past six years. It is a complete solution that provides speed to market with reduced risk. We back our confidence in our proven implementation methodology with end to end implementation engagements.”

Philip added, “Ebix and NEOS see this as just the beginning of a long partnership and in the next six months we are looking forward to adding policy amendment processing to the suite of adviser portal options and support for Superannuation Rollover payments. This is expected to extend the Adviser Portal to include straight through processing for fully underwritten increases and decreases in benefits and premiums.”

Ebix OneOffice leverages a base set of functions such as the quotation engine and new business processing to make this available to any end user. This includes advisers, comparators, customers and administration servicing staff.

Ebix Australia is a dominant leader in insurance exchanges and back-end systems for brokers and carriers in multiple insurance sectors including P&C and Life. It has pioneered and implemented concepts in Australia that have been an example to the rest of the insurance industry across the world.

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. $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. EbixCash’s technology services Division has emerged as a leader in the areas of lending technology, asset & wealth management technology, travel technology in India; besides having grown its international expanse to Europe, Middle East, Africa and ASEAN countries.

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
678 -281-2027 or IR@ebix.com

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

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