Ebix Announces Integration with SIMON; Expands InsurTech Platform with New e-App Capabilities
Ebix, Inc. (NASDAQ: EBIX) announced a partnership with SIMON Markets to integrate AnnuityNet, enhancing the annuity transaction process for financial advisors. This integration streamlines compliance workflows and suitability score calculations, aiming to increase efficiency and reduce risks. The collaboration allows wealth management advisors to access insurance carrier offerings directly through SIMON's cloud-based platform, promising to expand Ebix's market reach and client base.
- Partnership with SIMON enhances advisor experience and increases efficiency.
- Integration with AnnuityNet streamline compliance workflows, reducing risks.
- New market opportunities for annuity sales through improved connectivity.
- None.
JOHNS CREEK, Ga., June 23, 2020 (GLOBE NEWSWIRE) -- Ebix, Inc. (NASDAQ: “Ebix”), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced an integration with AnnuityNet, EbixExchange’s industry-leading order-entry solution for annuity transactions, and SIMON Markets LLC and SIMON Annuities and Insurance Services LLC (“SIMON”). Designed to optimize advisor experience through increased efficiency and reduction of compliance risk, AnnuityNet fully automates the annuity transaction, including automated calculation of suitability scores and transaction routing through compliance workflows. This innovative partnership promises to tap into new markets for annuity sales by seamlessly connecting wealth management advisors on SIMON’s cloud-based annuities platform to insurance carrier offerings, creating a simplified, end-to-end annuity sales experience.
“Ebix offers a powerful integration solution that supports the fast-paced connectivity needs of financial advisors in today’s world. We’re excited by the opportunity to partner with their team, streamline the wealth management experience for more advisors on our platform, and drive enhanced digital engagement for the annuities industry as a whole,” said Jason Broder, CEO of SIMON.
Ash Sawhney, President, Insurance Solutions North America at Ebix, added: “SIMON actively works to deliver an innovative, holistic experience for advisors, who guide clients through every stage of the wealth management process with a personalized approach and differentiated resources. We’re here to make that easier. Bringing Ebix’s integrated technology to SIMON supports their commitment to simplifying the often-complex demands of wealth management. This partnership and integrated solution give Ebix the ability to expand its reach in the market with new clients supporting both new business and inforce maintenance while increasing adoption with current clients.”
SIMON specializes in an innovative, modern approach to education and analytics for structured investment and insurance solutions, delivering end-to-end education, marketplace, and lifecycle management so advisors can help clients accomplish their life and legacy goals. The AnnuityNet integration simplifies workflows for advisors utilizing annuities through SIMON’s insurtech platform.
About SIMON
An award-winning fintech company, SIMON is committed to transforming the digital experience for financial advisors, enabling them to better serve their clients. SIMON’s intelligent and innovative platform delivers an end-to-end digital suite of tools, empowering advisors with on-demand education, an intuitive marketplace, real-time analytics, and lifecycle management.
With a focus on reshaping the advisor experience, SIMON is setting new industry standards, simplifying the complex, and delivering structured investment and insurance solutions to investment professionals, centralized within one unique ecosystem.
For more information about SIMON, visit www.simon.io and follow the company on LinkedIn. Securities products and services offered by SIMON Markets LLC, a broker-dealer registered with the SEC, Member FINRA / SIPC. Annuities and insurance services provided by SIMON Annuities and Insurance Services LLC.
About Ebix
With 50+ offices across 5 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, the Company’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, Forex, travel, pre-paid & gift cards, utility payments, lending, etc., in an emerging country like India. The Company’s Forex Exchange has a dominant market share of India’s airport Foreign Exchange business encompassing 32 international airports like Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Goa and Kolkata International airports while conducing over
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 or Gautam Sharma
678-281-2027 or IR@ebix.com
David Collins or Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com
FAQ
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