London, 15 May, 2023:
Pioneering London Market technology specialist Ebix Europe today confirms that its successful seven years as the architect and provider of the original London market electronic placement platform PPL will end on 31 December, 2023. Ebix Europe is a subsidiary of Ebix, Inc. (NASDAQ:EBIX)
Ebix Europe will continue its focus on the independent growth and innovation of the new and improved electronic placing solution PlacingHub, without limitation, a state-of-the art placement choice for the London market users. Developed by the London market’s most experienced digital placement experts, PlacingHub is now live and attracting strong interest from leading re/insurance brokers and carriers, offering London market users a seamless transition to the platform including all their historic data.
Ebix Europe’s world-class support will continue for PPL users until the end of the year, maintaining the outstanding technical support that has helped over 20,000 users place millions of risks, firm orders and endorsements to date.
Ebix Europe Vice President Pete Smyth said:
“We finally have the freedom to launch our vision for the London market, and are very excited about that opportunity. We are extremely proud to have successfully pioneered the London market’s exciting journey into electronic placement, and supported its adoption over the last seven years. The market has undergone significant changes during this time, including the challenges of the global pandemic, which rapidly accelerated the digitisation of placements in our market.
Throughout it all we have been dedicated to channelling more business through the London Market as efficiently as possible. We have a proven track record of successful delivery and support, and are looking forward to the freedom to take an unbounded approach to the innovation and growth of electronic placement in the future.
Competition is an opportunity and creates the ideal conditions for innovation, to the benefit of the Market. That is why we are delighted to be now independently enhancing the digital transformation of our sector and bringing our full strength and expertise to the table, offering market participants a seamless and painless transition onto our platform and accelerate the journey to data-first.
I’d like to thank the market for the tremendous support we have enjoyed over the last seven years and look forward to that continuing long into the future.”
About Ebix Europe
London market technology specialists Ebix Europe is a wholly owned subsidiary of Ebix Inc. the largest provider of electronic trading solutions and innovative Insurtech products to the global (re)insurance market, covering both large commercial and specialty markets.
Find out more: http://www.ebixeurope.co.uk
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 using Software-as-a-Service (“SaaS”) enterprise solutions in the area of customer relationship management (CRM), front-end and back-end systems, and outsourced administration and risk compliance services.
With a “Phygital” strategy that combines over 650,000 physical distribution outlets in many Association of 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 in India and other countries primarily in Asia and the Middle East. EbixCash’s Forex operations is a leader in India’s airport Forex business, with operations in 16 international airports, including Delhi, Mumbai, Hyderabad, Chennai and Kolkata, combined having conducted 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 500,000 agents and approximately 18,000 registered corporate clients, combined having processed an estimated $2.5 billion in gross merchandise value per annum (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
678 -281-2027 or IR@ebix.com
David Collins or Chris Eddy
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