Press Release: BSE - Ebix Receives Formal Approval from Insurance Regulator to Start Insurance Distribution in India
BSE - Ebix Receives Formal Approval from Insurance Regulator to Start Insurance Distribution in India
MUMBAI, India, Jan. 07, 2020 (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, today announced that its joint venture with Bombay Stock Exchange (BSE), Asia's oldest exchange, has received formal approval for Certificate of Registration to act as a direct insurance broker (Life and General) under the IRDAI (Insurers Brokers) Regulations, 2018. The venture, branded as BSE-Ebix Insurance Broking Pvt. Ltd., will enable distribution outlets, wealth management advisors, Point of Sale Persons (PoSPs) to sell life and non-life insurance products.
BSE-Ebix confirmed that it will soon announce a formal date for the go-live date of its distribution franchise. BSE-Ebix aims to offer numerous choices to customers, besides reaching to remote villages across India to access these products. The venture will make use of the reach of both BSE and EbixCash that spans over 3 lakh outlets across the country, and shall cover the entire insurance lifecycle from customer relationship management, agency management, multi-quoting, underwriting, policy creation, claims filing and settlement to back-end insurance policy administration.
BSE is India's leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner.
EbixCash is the Indian subsidiary of Ebix, Inc. that today transacts $18 Billion in Gross merchandise value (GMV) on its platforms, besides being an end-to-end services market leader in the financial exchange industry.
About BSE
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia's first & now the world's fastest Stock Exchange with a speed of 6 microseconds. BSE is India's leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper , Oman Crude Oil Guar Gum , Guar Seeds & Turmeric .
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE's systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
About Ebix
With 50+ offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, 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 320,000 physical distribution outlets in many Southeast Asian Nations ("ASEAN") countries, to an Omni-channel online digital platform, the EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, foreign exchange (Forex), travel, pre-paid & gift cards, utility payments, lending, wealth management etc. in India and other markets. EbixCash's Forex operations have emerged as a leader in India's airport Foreign Exchange business with operations in 32 international airports including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction value per year. EbixCash's inward remittance business in India conducts approx. $6.5 billion gross annual remittance business, confirming its undisputed leadership position in India. EbixCash, through its travel portfolio of Via and Mercury, is also one of Southeast Asia's leading travel exchanges with over 2,200+ employees, 212,450+ agent network, 25 branches and over 9,800 corporate clients; processing an estimated $2.5 billion in gross merchandise value per year. For more information, visit the Company's website at www.ebix.com
Contact:
Darren Joseph
IR@ebix.com or +1 678 281 2027
David Collins or Chris Eddy
Catalyst Global + 1 212-924-9800 or ebix@catalyst-ir.com
(END) Dow Jones Newswires
January 07, 2020 07:30 ET (12:30 GMT)
*DJ Ebix Receives Formal Approval From Insurance Regulator to Start Insurance Distribution in India
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
January 07, 2020 07:30 ET (12:30 GMT)
*DJ Ebix: Joint Venture With Bombay Stock Exchange to Enable Sales of Life, Non-Life Insurance Products
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
January 07, 2020 07:31 ET (12:31 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
新聞稿：bse-ebix獲得保險監管機構正式批准在印度啟動保險分銷。
bse-ebix獲得保險監管機構正式批准在印度開展保險分銷。
印度孟買，2020年1月7日(GlobalNewswire)--Ebix公司。(納斯達克市場代碼：ebix)是保險、金融、醫療和電子學習行業按需軟件和電子商務服務的領先國際供應商，該公司今天宣佈，其與亞洲歷史最悠久的交易所孟買證券交易所(BSE)的合資企業已獲得正式批准，根據2018年“保險經紀人(保險經紀人)條例”，該公司將成為直接保險經紀(人壽和通用)。該合資公司名為BSE-Ebix Insurance Broking Pvt.Ltd.，將使分銷網點、財富管理顧問、銷售點(PoSP)能夠銷售人壽保險和非壽險產品。
BSE-Ebix證實，它將很快宣佈其分銷專營權的正式生效日期。BSE-Ebix公司的目標是為客户提供多種選擇，此外，他們還將前往印度各地的偏遠村莊，以獲取這些產品。該合資公司將利用BSE和EbixCash的業務範圍，覆蓋全國超過3000家網點，涵蓋從客户關係管理、代理管理、多重報價、承保、保單創建、理賠和結算到後端保險管理的整個保險生命週期。
BSE是印度領先的交易所集團，在發展印度資本市場方面發揮了突出作用。BSE是一個公司化和股份化的實體，擁有廣泛的股東基礎，其中包括作為戰略合作伙伴的全球領先交易所--德意志交易所。
EbixCash是Ebix公司在印度的子公司。如今，該公司在其平台上的總商品價值(Gmv)達到180億美元，而且是金融交易所行業的端到端服務市場領先者。
關於瘋牛病
BSE(前孟買證券交易所)成立於1875年，是亞洲第一家，現在是世界上最快的證券交易所，速度為6微秒。BSE是印度領先的交易所集團，在發展印度資本市場方面發揮了突出作用。BSE是一個公司化和股份化的實體，擁有廣泛的股東基礎，其中包括作為戰略合作伙伴的全球領先交易所--德意志交易所。BSE為股票、債務工具、股票衍生品、貨幣衍生品、商品衍生品、利率衍生品、共同基金以及股票借貸提供了一個高效和透明的市場。
BSE還有一個專門的中小企業股票交易平台，非常成功。BSE還擁有專門的MF分銷平台，BSE星MF是印度最大的共同基金分銷基礎設施。2018年10月1日，BSE推出了黃金、銀、銅、阿曼原油瓜爾膠、瓜爾籽和薑黃等大宗商品衍生品交易。
BSE向資本市場參與者提供一系列其他服務，包括風險管理、清算、結算、市場數據服務和教育。它在全球範圍內與世界各地的客户建立聯繫，並在全國範圍內開展業務.BSE的系統和流程旨在維護市場的完整性，推動印度資本市場的增長，並刺激所有市場部門的創新和競爭。
印度結算公司有限公司是BSE的全資子公司，是在BSE交易平台上執行的所有交易的中央對手方，並提供充分的更新，保證所有真正執行的交易的結算。BSE研究所有限公司是BSE的另一家全資子公司，經營着全國最受尊敬的資本市場教育機構之一。中央保管服務有限公司BSE的聯營公司(CDSL)是印度的兩個保管人之一。
BSE已根據印度財政部發布的準則，於1986年7月10日設立了投資者保護基金(IPF)，以滿足投資者對違約成員的索賠要求。BSE投資者保護基金負責提高印度投資者羣體對資本市場的認識。
關於Ebix
Ebix公司(納斯達克代碼：Ebix)在6大洲擁有50多個辦事處，致力於為保險、金融、醫療和電子學習行業提供按需軟件和電子商務服務。在保險部門，ebix的主要重點是在按需基礎上開發和部署各種各樣的保險和再保險交易所，同時在世界各地提供CRM、前端和後端系統、外包管理和風險合規服務領域的軟件即服務(SaaS)企業解決方案。
EbixCash金融交易所組合了東南亞許多國家(“東盟”)32萬個物流網點的“Phygital”戰略，成為一個全方位的在線數字平台，在印度和其他市場包括國內和國際匯款、外匯(外匯)、旅行、預付禮品卡、公用事業支付、貸款、財富管理等領域的領導地位。EbixCash的外匯業務已成為印度機場外匯業務的領軍企業，在德里、孟買、班加羅爾、海德拉巴、欽奈和加爾各答等32個國際機場開展業務，每年的總交易價值超過48億美元。EbixCash在印度的匯款業務進行了大約。年匯款總額達65億美元，這證實了其在印度的無可爭議的領導地位。EbixCash通過其旅行組合VIA和水星，也是東南亞領先的旅遊交易所之一，擁有超過2，200名員工、212，450多個代理網絡、25個分支機構和9，800多個企業客户；估計每年處理的商品總值為25億美元。欲瞭解更多信息，請訪問公司網站：www.ebix.com。
聯繫人：
達倫·約瑟夫
電子郵件：ir@ebix.com或+1 678 281 2027
大衞·柯林斯或克里斯·埃迪
電話：+1 212-924-9800電子郵件：ebix@催化劑-ir.com
(完)道瓊斯通訊社
2020年01月7日07：30(格林尼治時間12：30)
*DJ Ebix獲得保險監管機構正式批准在印度開展保險分銷
道瓊斯通訊社(212-416-2800)
2020年01月7日07：30(格林尼治時間12：30)
*DJ Ebix：與孟買證券交易所合資銷售人壽、非壽險產品
道瓊斯通訊社(212-416-2800)
2020年1月7日07：31(格林尼治時間12：31)
版權(C)2020 DowJones&Company，Inc.
