ATLANTA, Oct. 31, 2013 (GLOBE NEWSWIRE) -- On the eve of the National Association of Independent Life Brokerage Agencies (NAILBA) 32 Annual Meeting November 21-23, Ebix, Inc. (Nasdaq:EBIX),a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that its plans to launch a wider portfolio of products in the life & annuity sector in 2014, to further enhance its leadership position in the North American markets.
- Ebix processes over $50 billion in annuities premium annually. That number represents over 90% of all of the electronic annuity business processed* while the Company's combined competition represents less than 10% of the market.
- The Company's annuity client base consists of over 200 of the largest banks, broker dealers, and financial services firms in the United States, with the Company's competitors having a fraction of that number.
- Ebix is the largest single provider of complete life e-Applications in North America. The Company processes over 1,000,000 fully underwritten electronic life insurance applications annually across the globe.
- Ebix's life illustration solutions are utilized by a vast majority of the independent life brokerage firms in the United States. Ebix runs over 22 million compliant life policy illustrations annually and over 40 million life insurance quotes annually.
- Ebix offers one of the most widely used agency management systems for life brokerage agencies in the United States. The Company's combined competition in the agency management system space represents a fraction of the Company's market share.
- The Company already has the widest portfolio of solutions in the sector, while providing true end-to-end straight through processing for its clients.
- Ebix has a record of not having lost any existing clients to its competition in the space.
- In fact, the Company has continued to add top tier carriers and distributors to its network.