ATLANTA, GA – June 8, 2010 – 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 been declared the winner of the 2010 RAVE award in the Property & Casualty Policy Administration System category. Insurance technology trade publisher Tech Decisions in conjunction with leading insurance analyst firm Novarica presented the award.
The RAVE Awards were designed to recognize those technology solutions that deliver exemplary value to their customers as measured by senior IT executives at P&C insurance companies surveyed by Novarica.
The RAVE awards, which are based on Novarica’s Average Customer Experience (ACE) ranking methodology, are awarded to solution providers who have attained the highest aggregate rankings during the past twelve months. The ACE ranking by Novarica measures customer satisfaction levels objectively across a wide range of areas, and the results are intended to guide insurers as they consider potential solution providers.
Ebix’s P&C Policy Administration System EbixAdvantage was declared the winner of the 2010 RAVE award while Insuresoft’s Diamond received an honorable mention.
Matt Josefowicz, Director Insurance, Novarica said, “The RAVE Awards are unlike any other award in the insurance technology space. Rather than being chosen by a board of experts or an open online poll, the winners and honorable mention solutions are those that received the highest aggregate rankings from a group of current clients using Novarica’s Average Customer Experience and (ACE) ranking methodology.”
Sharon Schwartzman, editor-in-chief of Tech Decisions said, “With all the choices in the insurance IT solution market, having unvarnished feedback in the ACE rankings from current users can only help to guide carriers considering new systems. With the RAVE awards, we’re pleased to partner with Novarica to inform our readers about the products that customers participating in the rankings are raving about most.”
Ebix’s policy administration system received 96% overall satisfaction for the win in the P&C Policy Administration System category for the Ebix Advantage System, a fully automated and integrated policy administration system for both personal and commercial lines insurance carriers. The Ebix Advantage System can be implemented as a fully integrated scalable platform capable of meeting the needs of any size P&C insurer.
Christine Denham, SVP of Ebix’s P&C Division said, “It is exciting to be recognized by three important constituents that we look up to every day. This award has the unique distinction of being awarded by all three of those to us - our insurance company system customers, a premier insurance analyst firm - Novarica, and a premier insurance trade publication - Tech Decisions. This award is likely to provide an outside objective viewpoint to P&C carriers who are evaluating policy administration vendors at present.”
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 BPO services to custom software development for all entities involved in the insurance industry.
With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India and Canada, 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. Ebix’s focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute’s Capability Maturity Model (CMM). Ebix has also earned ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Company’s website at www.ebix.com
Neil van Helden
678-242-2824 or Neil.vanHelden@Ebix.com
Aaron Tikkoo, IR
678-281-2027 or email@example.com