Ebix Hosts its Largest Customer Conference Beginning Today

Rhea-AI Summary

Ebix, Inc. announced an impressive 81% year-over-year growth in annuity premiums for January 2023, totaling approximately $9 billion. This follows a record $98 billion processed in 2022 on its Annuity Exchange platform. The company is hosting its largest North American customer conference in a decade, attended by leading insurance and financial institutions. Executives plan to unveil new products aimed at enhancing industry efficiency and growth. The strong performance signals a robust start to the year, indicating continued momentum from 2022's success.

Positive

• 81% year-over-year growth in annuity premiums in January 2023, totaling approximately $9 billion.
• Record premiums processed on Annuity Exchange platform in 2022, exceeding $98 billion.
• Major customer conference showcasing new product updates and future roadmaps.

Negative

• None.

On the Eve of Conference, Company Announces 81% YOY Growth in Annuity Premiums in January 2023

JOHNS CREEK, Ga., Feb. 21, 2023 (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, announced that it is hosting its largest North American customer conference in a decade, in Orlando, Florida, beginning today.

The 3-day customer and user group conference is being attended amongst others, by representatives from top life and health insurance companies, leading banks, financial institutions, top industry distributors, Third Party Administrators, and a host of industry partners. Attendees also include over 50 Ebix North America executives, who will present and unveil product updates and future roadmaps, targeted at taking the insurance industry forward in terms of efficiency and growth.

Ash Sawhney, President, Insurance Solutions – Ebix North America said. “Our clients in North America account for a large percentage of insurance premiums in their respective sectors. We are excited to host these leading institutions together in one place and for the opportunity to show them - as to how we can play a key role in their future growth path.”

“This conference is being held at a time, when our core life and annuity insurance businesses are reporting record performances. Earlier this month, we announced record premiums of over $98 Billion processed in 2022, on our Annuity Exchange platform.” Ash Sawhney said. “I am pleased to say today that the success we saw in 2022 is continuing into 2023. In January 2023, the premiums processed on our Annuity exchange platform grew 81% year-over-year to approximately $9 billion in the month. In terms of transactions, we experienced 71% year-over-year growth in January 2023.”

Ash Sawhney added, “These record numbers are a testimony to the fantastic customer base we have and thus I am excited to report this record beginning to the year, with our customers at the Expo - since they are the ones responsible for our growth. I am looking forward to unveiling several new products and upgrades at the Expo, that will allow us to further strengthen our leadership position in the market.”

About Ebix, Inc.

With approximately 200 offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide on-demand software and e-commerce services to the insurance, financial services, travel, healthcare and e-learning industries. In the Insurance sector, Ebix’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 over 650,000 physical distribution outlets in many Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), travel, pre-paid gift cards, utility payments, lending and wealth management across 75+ countries including India. EbixCash’s Forex operations is a leader in India’s airport Forex business, with operations in approximately 20 international airports, including Delhi, Mumbai, Hyderabad, Chennai and Kolkata, combined conducting over $4.8 billion in gross transaction value per year (pre-COVID-19). EbixCash’s inward remittance business in India processed approximately $5 billion in gross annual remittance volume (pre-COVID-19) and is the clear market leader. EbixCash, through its travel portfolio of Via and Mercury, is also one of Southeast Asia’s leading travel exchanges with over 517,000 agents and approximately 17,900 registered corporate clients, combined having processed an estimated $2.5 billion in gross merchandise value per year (pre-COVID-19). EbixCash's financial technologies business offers software solutions at the enterprise level for banks, asset and wealth management companies and trust companies within India, Southeast Asia, the Middle East and Africa. The EbixCash's e-learning solutions are provided to schools across the breadth of India via high quality 2-D and 3-D animation and multimedia learning. EbixCash's business process outsourcing services provide information technology and call center services to a variety of industries.

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
678-281-2027 or IR@ebix.com
David Collins or Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com