Ebix Australia Adds TravelCard To Its EbixExchange Platform
August 14 2019 - 7:34AM
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 it has added leading travel insurance player TravelCard to its
EbixExchange platform.
Headquartered in Tel Aviv, Israel, TravelCard
officially launched their real-time travel insurance products in
Australia in late 2018 partnering up with the Hollard Insurance
Company. The addition of their corporate travel insurance
products to the EbixExchange platform was a logical next step
forward in terms of getting mass adoption and distribution
reach.
TravelCard, a one-of-a-kind insure-tech aims to
address the pain points of travel insurance head-on. Unlike most
other travel insurance products from other companies that can take
up to 45 days and 13 interactions for a claim to be processed,
TravelCard tends to pay claims within a matter of minutes.
Accordingly, TravelCard has achieved great success in a number of
markets, including Israel, Germany, Canada, and the UK, and now
they’ve brought their revolutionary product to Australia.
Here’s how it works: when a TravelCard Policy is
purchased, the policy holder receives a special debit MasterCard in
the mail. When something bad happens and a claim needs to be made,
funds are instantly transferred to the card, with claims processed
in real-time (minutes) besides having Claims processing and support
in Australia itself. This results in basically no out-of-pocket
expenses, no mountains of paperwork, and no waiting.
TravelCard offer three types of cover: Corporate
cover for business, Leisure cover for individuals, and Business
class for employees.
Leon D’Apice, Managing Director - Ebix Australia
said, “We are delighted that TravelCard have chosen Ebix as their
medium of distribution to brokers. Our EbixExchange platform is
today the dominant aggregation of brokers in the country
transacting insurance business on our on-demand platforms. Besides,
Ebix has a vast majority of the brokers using our backend systems
to run their businesses in Australia. That puts us in a unique
position to allow providers to distribute their products
expeditiously through our platforms.”
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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