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Farmers Union Mutual Insurance Company Selects Ebix For Its End-to-End SaaS Based Policy Administration System Needs

ATLANTA, March 6, 2013 (GLOBE NEWSWIRE) -- Farmers Union Mutual Insurance Company of North Dakota, an insurance company that provides comprehensive lines of Property & Casualty products, and Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that FUMIC-ND has selected EbixAdvantage as its new end-to-end SaaS platform for all its front and back end policy administration needs such as rating, underwriting, policy administration, accounting, general ledger, billing and claims management.

Headquartered in Jamestown, ND, Farmers Union Mutual Insurance Company of North Dakota delivers a wide variety of products to farmers, ranchers, homeowners, and businesses across North Dakota. As a mutual company, Farmers Union Mutual Insurance Company is owned and governed by its policyholders in much the same way that a cooperative is owned and operated by its members.

Rated "A" Excellent by the A.M. Best Company, FUMIC-ND offers insurance products such as farm owners, homeowners, business owners, and commercial insurance to its customers. FUMIC selected Ebix to support their current business and future product development and to provide enhanced operational efficiencies for their growing agency distribution channel.

EbixAdvantage is a modern and powerful pure SaaS-based, multi-lingual, multi-currency system, designed to cater to the complete range of general insurance activities such as client management, policy administration, rating and quoting, claims management, accounting, and document management while providing an option to do comparative quoting for direct broking operations of insurance carriers, MGA's and brokers.  

"Ebix's industry knowledge, depth of functionality, SaaS based technology, and end-to-end solution approach were key in our selection of Ebix," said Mark Anderson, General Manager – FUMIC-ND. "We are confident that Ebix will help us provide deep and broad functionality for our core operations and has the flexibility to help us quickly and effectively deliver enhanced customer service."

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