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MUMBAI, India, Jan. 07, 2020 (GLOBE NEWSWIRE) — Ebix, Inc. (NASDAQ: EBIX), a arch all-embracing supplier of On-Demand software and E-commerce casework to the insurance, financial, healthcare and e-learning industries, today appear that its collective adventure with Bombay Banal Barter (BSE), Asia’s oldest exchange, has accustomed academic approval for Certificate of Registration to act as a absolute allowance abettor (Life and General) beneath the IRDAI (Insurers Brokers) Regulations, 2018. The venture, branded as BSE-Ebix Allowance Broking Pvt. Ltd., will accredit administering outlets, abundance administering advisors, Point of Sale Persons (PoSPs) to advertise activity and non-life allowance products.

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BSE-Ebix accepted that it will anon advertise a academic date for the go-live date of its administering franchise. BSE-Ebix aims to action abundant choices to customers, besides extensive to alien villages beyond India to admission these products. The adventure will accomplish use of the ability of both BSE and EbixCash that spans over 3 lakh outlets beyond the country, and shall awning the absolute allowance lifecycle from chump accord management, bureau management, multi-quoting, underwriting, action creation, claims filing and adjustment to back-end allowance action administration.

BSE is India’s arch barter accumulation and has played a arresting role in developing the Indian basic market. BSE is a corporatized and demutualized entity, with a ample actor abject that includes the arch all-around exchange- Deutsche Bourse, as a cardinal partner.

EbixCash is the Indian accessory of Ebix, Inc. that today transacts $18 Billion in Gross article amount (GMV) on its platforms, besides actuality an end-to-end casework bazaar baton in the banking barter industry.

About BSE

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BSE (formerly Bombay Banal Exchange) accustomed in 1875, is Asia’s aboriginal & now the world’s fastest Banal Barter with a acceleration of 6 microseconds. BSE is India’s arch barter accumulation and has played a arresting role in developing the Indian basic market. BSE is a corporatized and demutualized entity, with a ample actor abject that includes the arch all-around exchange- Deutsche Bourse, as a cardinal partner. BSE provides an able and cellophane bazaar for trading in equity, debt instruments, disinterestedness derivatives, bill derivatives, article derivatives, absorption amount derivatives, alternate funds and banal lending and borrowing.

BSE additionally has a committed belvedere for trading in equities of baby and average enterprises (SMEs) that has been awful successful. BSE additionally has a committed MF administering belvedere BSE StAR MF which is India Largest Alternate Funds Administering Infrastructure. On October 1, 2018, BSE launched article derivatives trading in Gold, Silver, Copper , Oman Crude Oil Guar Gum , Guar Seeds & Turmeric .

BSE provides a host of added casework to basic bazaar participants including accident management, clearing, settlement, bazaar abstracts casework and education. It has a all-around ability with barter about the apple and a nation-wide presence. BSE’s systems and processes are advised to aegis bazaar integrity, drive the advance of the Indian basic bazaar and activate addition and antagonism beyond all bazaar segments.

Indian Allowance Corporation Limited, a wholly endemic accessory of BSE, acts as the axial counterparty to all trades accomplished on the BSE trading belvedere and provides abounding novation, guaranteeing the adjustment of all bonafide trades executed. BSE Institute Ltd, addition absolutely endemic accessory of BSE runs one of the best admired basic bazaar educational institutes in the country. Axial Depository Casework Ltd. (CDSL), accessory aggregation of BSE, is one of the two Depositories in India. 

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BSE has set up an Broker Protection Fund (IPF) on July 10, 1986 to accommodated the claims of investors adjoin defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Broker Protection Fund is amenable for creating Basic markets accompanying acquaintance amid the broker association in India.

About Ebix

With 50 offices beyond 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to accommodate On-Demand software and E-commerce casework to the insurance, financial, healthcare and e-learning industries. In the Allowance sector, Ebix’s capital focus is to advance and arrange a advanced array of allowance and reinsurance exchanges on an on-demand basis, while also, accouterment Software-as-a-Service (“SaaS”) action solutions in the breadth of CRM, front-end & back-end systems, outsourced administering and accident acquiescence services, about the world.

With a “Phygital” action that combines 320,000 concrete administering outlets in abounding Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online agenda platform, the EbixCash Banking barter portfolio encompasses administration in areas of calm & all-embracing money remittance, adopted barter (Forex), travel, pre-paid & allowance cards, account payments, lending, abundance administering etc. in India and added markets. EbixCash’s Forex operations accept emerged as a baton in India’s airport Adopted Barter business with operations in 32 all-embracing airports including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, administering over $4.8 billion in gross transaction amount per year. EbixCash’s entering remittance business in India conducts approx. $6.5 billion gross anniversary remittance business, acknowledging its acknowledged administration position in India. EbixCash, through its biking portfolio of Via and Mercury, is additionally one of Southeast Asia’s arch biking exchanges with over 2,200 employees, 212,450 abettor network, 25 branches and over 9,800 accumulated clients; processing an estimated $2.5 billion in gross article amount per year. For added information, appointment the Company’s website at www.ebix.com

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Contact:

Darren Joseph

[email protected] or 1 678 281 2027

David Collins or Chris Eddy

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Catalyst All-around 1 212-924-9800 or [email protected]

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