Ebix's BPO Channel Renamed as Risk Compliance Solutions Channel (RCS)
(GlobeNewswire - Canada Via Acquire Media NewsEdge) ATLANTA, March 24, 2014 (GLOBE NEWSWIRE) -- Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has renamed its BPO channel as the Risk Compliance Solutions Channel (RCS) to convey the Channel's enhanced focus on transaction and subscription based SaaS risk compliance solutions.
The RCS Channel, formerly known as the BPO Channel, comprises a spectrum of services provided by Ebix to more than 1,000 organizations across 26 different industries, with a view to reduce their risk exposure and increase overall process efficiencies. The Company's RCS channel provides end-to-end services for issuance, solicitation, validation and electronic storage of insurance certificates in a SaaS environment.
The Company decided to rebrand the channel to ensure that its customers and investors both understood the SaaS element of the service as also the business model associated with a SaaS service. Ebix sells the service on a mix of subscription and transaction pricing model, with a high 90% plus recurring revenue model.
The Company intends to introduce a number of key marketing and product initiatives such as the Vendor Pay Model for risk tracking, in the year 2014 and thus considered it important to make this name change.
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (Nasdaq:EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance services to custom software development for all entities involved in the insurance industry.
With 35+ offices across Australia, Brazil, Canada, India, New Zealand, Singapore, the US and the UK, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and 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
Steven Barlow, Vice President - Investor Relations
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Source: Ebix, Inc.
2014 GlobeNewswire, Inc.
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