This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ebix Announces Agreement To Deploy Multi-Quoting Straight Through Processing (STP) Exchange Solution In Sao Paulo, Brazil

ATLANTA, July 8, 2013 (GLOBE NEWSWIRE) -- Ebix, Inc., (Nasdaq:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced its subsidiary Ebix Latin America executed a contract with SINCOR-SP (Syndicate of Insurance Brokers of the State of Sao Paulo) for the implementation and deployment of a Multi-Quote Exchange Solution for auto insurance. There are about 70,000 brokers in Brazil, of which 40% operate in the State of Sao Paulo and are associated to SINCOR-SP. Each state in Brazil has its own SINCOR and several of these from other states have already shown interest on making such a solution available to their associated brokers.

The Multi-Quote Solution sponsored by SINCOR is the first initiative in Brazil to promote a New Business Exchange Hub, connecting both insurance brokers and carriers. Initially, Ebix will be processing and hosting the complete new business process for auto insurance, in sequence other products and lines of business will be added, such as Life, Annuities and P&C.

During an event last week held between June 28 and June 30, with the presence of over 1,000 brokers, SINCOR-SP promoted the launching of this solution to the market. Speaking at the opening ceremony, the president of SINCOR-SP, Mario Sergio de Almeida Santos, said: "Ebix speaks the same language as our own insurance market because it already integrates, as part of its core business, thousands of insurance brokers and insurance carriers, worldwide. Besides being completely focused in IT for insurance business, Ebix was able to offer us attractive investment values which made business sense and, in addition, it was the only provider company which was capable of offering a solution covering the full cycle of new business – from quotation, to proposal generation to contract issuance".

In sequence, Mario Nogueira, SVP and Division Head for Ebix Latin America, talked about Ebix, its local and worldwide presence, main clients, facts and key figures about the company, followed by Luis Maida, Ebix Latin America Sales Executive, who gave a 40 minute presentation about the New Business Multi-Quote Exchange to the audience of over 1,000 brokers.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,119.97 -11.89 -0.07%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,827.2680 -11.3750 -0.24%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs