Ebix's BPO Channel Renamed as Risk Compliance Solutions Channel (RCS)
March 24 2014 - 10:30AM
Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of
On-Demand software and E-commerce services to the insurance
industry, today announced that it has renamed its BPO channel as
the Risk Compliance Solutions Channel (RCS) to convey the Channel's
enhanced focus on transaction and subscription based SaaS risk
compliance solutions.
The RCS Channel, formerly known as the BPO Channel, comprises a
spectrum of services provided by Ebix to more than 1,000
organizations across 26 different industries, with a view to reduce
their risk exposure and increase overall process efficiencies. The
Company's RCS channel provides end-to-end services for issuance,
solicitation, validation and electronic storage of insurance
certificates in a SaaS environment.
The Company decided to rebrand the channel to ensure that its
customers and investors both understood the SaaS element of the
service as also the business model associated with a SaaS service.
Ebix sells the service on a mix of subscription and transaction
pricing model, with a high 90% plus recurring revenue model.
The Company intends to introduce a number of key marketing and
product initiatives such as the Vendor Pay Model for risk tracking,
in the year 2014 and thus considered it important to make this name
change.
About Ebix, Inc.
A leading international supplier of On-Demand software and
E-commerce services to the insurance industry, Ebix, Inc.,
(Nasdaq:EBIX) provides end-to-end solutions ranging from
infrastructure exchanges, carrier systems, agency systems and risk
compliance services to custom software development for all entities
involved in the insurance industry.
With 35+ offices across Australia, Brazil, Canada, India, New
Zealand, Singapore, the US and the UK, Ebix powers multiple
exchanges across the world in the field of life, annuity, health
and property & casualty insurance while conducting in excess of
$100 billion in insurance premiums on its platforms. Through its
various SaaS-based software platforms, Ebix employs hundreds of
insurance and 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: Investors
Steven Barlow, Vice President - Investor Relations
678-281-2043 or steve.barlow@ebix.com
Aaron Tikkoo
678-281-2027 or atikkoo@ebix.com
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