BSE EBIX and LIC join hands for distribution of insurance pr…

(MENAFN- GlobeNewsWire – Nasdaq)

NOIDA, India and JOHNS CREEK, Ga., Feb. 17, 2022 (GLOBE NEWSWIRE) — BSE Ebix Insurance coverage Broking Non-public Restricted, a three way partnership of BSE and Ebix Singapore Pte Ltd., introduced the signing of Insurance coverage Dealer Settlement for distribution of Life Insurance coverage Company (LIC) merchandise on its state-of-the-art hi-tech platform. Beneath this settlement, BSE EBIX will provide their purchasers insurance coverage merchandise supplied by LIC corresponding to Life and Well being, utilizing its omni-channel digital presence. This partnership of two like-minded organizations goals at providing buyer centric options backed by technological improvements and finest in school companies.

EbixCash, a subsidiary of Ebix, Inc. (NASDAQ: EBIX) is within the means of looking for IRDA approval to switch its share possession in BSE EBIX from its mum or dad Ebix Singapore Pte Ltd. to EbixCash Restricted.

Insurance coverage is a vital danger mitigating instrument which protects the financial pursuits of people and organizations. BSE EBIX goal is to achieve out to each citizen of India and supply insurance coverage options to serve clients unfold throughout the nation, and guarantee they’re secured and guarded. The launch of LIC merchandise by BSE EBIX is a serious growth from the Firm’s perspective since Life insurance coverage is historically one of many quickest rising insurance coverage segments within the nation.

Mr. Ashishkumar Chauhan, MD & CEO-BSE, stated“At BSE EBIX, our goal is to achieve out to each citizen of the nation and supply insurance coverage options as per their wants. Our partnership with LIC not solely goals at offering related insurance coverage merchandise however may even present best-in-class companies to their clients by way of our distinctive digital initiatives. Additional enriching the consumer expertise, BSE EBIX’s digital capabilities help servicing and assist our purchasers choose related insurance policies.”

BSE EBIX’s technique is to have an unrivalled ‘Phygital’ pan India attain by combining the bodily presence of tens of hundreds of PoSPs with an omnichannel digital channel, thereby permitting its PoSPs to have entry to intensive real-time quotes from insurance coverage corporations and to finish your entire transaction on-line on behalf of their clients. By its know-how, BSE EBIX empowers PoSPs to ship better of the Insurance coverage merchandise and supply consolation to the tip clients by transacting bodily on the pace of digital know-how. This presents an enormous alternative for BSE EBIX to construct its Life insurance coverage portfolio.

BSE EBIX had beta launched its operations on February 7, 2020, with the providing of personal automobile and two-wheeler auto insurance coverage. The corporate goals to revolutionize not solely shopping for of insurance coverage from a client perspective but additionally allow insurers to distribute insurance coverage merchandise in a extremely environment friendly method, whereas automating and integrating advanced back-end processes seamlessly with entrance finish distribution. At present, there are seven Common Insurance coverage corporations in Motor, 5 Well being Insurance coverage Firms for Well being Merchandise and three Life Insurance coverage Firms for Life Merchandise on the BSE EBIX platform. Apart from, we additionally concern Insurance policies by way of offline mode with two extra Insurance coverage Firms. As on date, BSE EBIX has registered over 10,500 Level of Sale Individuals (PoSPs) out of which 4,677 are licensed and able to do enterprise by way of BSE EBIX Portal.

About BSE

BSE (previously Bombay Inventory Alternate) established in 1875, is Asia’s first & now the world’s quickest Inventory Alternate with a pace of 6 microseconds. BSE is India’s main alternate group and has performed a distinguished position in creating the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that features the main world exchange- Deutsche Bourse, as a strategic accomplice. BSE supplies an environment friendly and clear marketplace for buying and selling in fairness, debt devices, fairness derivatives, forex derivatives, commodity derivatives, rate of interest derivatives, mutual funds and inventory lending and borrowing.

BSE additionally has a devoted platform for buying and selling in equities of small and medium enterprises (SMEs) that has been extremely profitable. BSE additionally has a devoted MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives buying and selling in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.

BSE supplies a number of different companies to capital market contributors together with danger administration, clearing, settlement, market knowledge companies and training. It has a worldwide attain with clients around the globe and a nation-wide presence. BSE’s techniques and processes are designed to safeguard market integrity, drive the expansion of the Indian capital market and stimulate innovation and competitors throughout all market segments.

Indian Clearing Company Restricted, a completely owned subsidiary of BSE, acts because the central counterparty to all trades executed on the BSE buying and selling platform and supplies full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, one other totally owned subsidiary of BSE runs probably the most revered capital market academic institutes within the nation. Central Depository Providers Ltd. (CDSL), affiliate firm of BSE, is without doubt one of the two Depositories in India.

BSE has arrange an Investor Safety Fund (IPF) on July 10, 1986 to fulfill the claims of buyers towards defaulter Members, in accordance with the Pointers issued by the Ministry of Finance, Authorities of India. BSE Investor Safety Fund is accountable for creating Capital markets associated consciousness among the many investor group in India.

About EbixCash

EbixCash is a frontrunner in home and worldwide cash remittance, overseas alternate (Foreign exchange), journey, pre-paid and present playing cards, utility funds and software program options for lending, wealth administration, bus exchanges and insurance coverage in India and different markets. EbixCash’s ‘Phygital” technique combines over 320,000 bodily distribution shops in India and ASEAN nations with an Omni-channel on-line digital platform. EbixCash ‘s Foreign exchange operations have a management place in India with operations in 20 worldwide airports, together with Delhi, Mumbai, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction worth per 12 months (pre-COVID-19). EbixCash’s inward remittance enterprise is the clear market chief in India, processing roughly $5 billion in gross annual remittance quantity (pre-COVID-19). By its journey portfolio of Through and Mercury, EbixCash can also be one among Southeast Asia’s main journey exchanges with over 200,000 brokers, 25 branches and over 9,800 company purchasers, processing an estimated $2.5 billion in gross merchandise worth per 12 months (pre-COVID-19). For extra info, go to the Firm’s web site at

About Ebix, Inc.

With 150+ workplaces throughout 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to offer On-Demand software program and E-commerce companies to the insurance coverage, monetary, healthcare and e-learning industries. Within the Insurance coverage sector, Ebix develops and deploys all kinds of insurance coverage and reinsurance exchanges on an on-demand foundation, whereas additionally, offering Software program-as Service (‘SaaS’) enterprise options within the space of CRM, front-end & back-end techniques, outsourced administration and danger compliance companies, around the globe.

The Firm’s EbixCash Monetary alternate subsidiary is a frontrunner in home and worldwide cash remittance, overseas alternate (Foreign exchange), journey, pre-paid/present playing cards, utility funds, software program options for lending, wealth administration, bus exchanges and insurance coverage in India and different worldwide markets. Ebix and its subsidiaries make use of hundreds of domain-specific know-how professionals to offer merchandise, help and consultancy to hundreds of shoppers on six continents. For extra info, go to the Firm’s web site at

CONTACT:

BSE –

Yatin Padia / Rahul Vyas/ Mihir Dani

022 2272 8516 / 2272 8472/ 77380 12080

Belinda Dokras, Excellent Relations

+91 9820284220 or

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