JOHNS CREEK, GA – June 13, 2016 – Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, today announced that it has started the implementation of multiple projects for a number of state government and central government bodies in India, to provide enrollment services towards the Unique identification project of the Government of India. These projects are being implemented by Ebix’s newly formed joint venture subsidiary with Vayam Technologies Limited to address the E-governance sector in India.
The projects require providing enrollment services for two state Government organizations in the states of Rajasthan & Punjab, in addition to two central Government Public sector units - namely Punjab National Bank and CSC e-Governance Services India Limited. The project involves enrollment of citizens as per their income category into a number of unique identifiers like the Aaadhar or Bhamashah cards or both.
Unique identification (UI) project, as initially conceived by the Planning Commission is an ambitious initiative of the Government of India to provide a unique identification to each citizen across the country. The UI project of the Govt. of India sets out to evolve an efficient mechanism for delivery of services like healthcare, rations and other welfare services to citizens across the country. With a population of approximately 1.3 billion people spread across the 7th largest country in the world, the UI enrollment exercise is a rather large venture of the Government of India. The Company expects the UI contracts to generate anywhere between $3 million to $5 million a year, over the next few years.
Ebix Chairman, President and CEO Robin Raina said, “Our E-governance initiatives in India are targeted at providing end-to-end services in multiple sectors of the Digital India initiative of the Government of India. Towards that, we are keen to get involved in all facets of system integration as a turnkey vendor. We are trying to pursue large recurring opportunities that can allow us to be a participant in the basic digital infrastructure of the country. This announcement regarding the UI project is a step in that direction.”
A leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, Ebix, Inc., (NASDAQ: EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance solutions to custom software development for all entities involved in the insurance industry.
With 40+ offices across Brazil, Singapore, Australia, the US, UK, 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. For more information, visit the Company’s website at www.ebix.com
As used herein, the terms “Ebix,” “the Company,” “we,” “our” and “us” refer to Ebix, Inc., a Delaware corporation, and its consolidated subsidiaries as a combined entity, except where it is clear that the terms mean only Ebix, Inc.
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