Noida and Johns Creek – February 17, 2022 – Ebix Insurance Insurance Broking Private Limited, a joint venture of Ebix Insurance and Ebix Singapore Pte Ltd., announced the signing of Insurance Broker Agreement for distribution of Life Insurance Corporation (LIC) products on its state-of-the-art hi-tech platform. Under this agreement, Ebix Insurance will offer their clients insurance products offered by LIC such as Life and Health, using its omni-channel digital presence. This partnership of two like-minded organizations aims at offering customer centric solutions backed by technological innovations and best in class services.

EbixCash, a subsidiary of Ebix, Inc. (NASDAQ: EBIX) is in the process of seeking IRDA approval to transfer its share ownership in Ebix Insurance from its parent Ebix Singapore Pte Ltd. to EbixCash Limited.

Insurance is an important risk mitigating tool which protects the economic interests of individuals and organizations. Ebix Insurance aim is to reach out to every citizen of India and provide insurance solutions to serve customers spread across the country, and ensure they are secured and protected. The launch of LIC products by Ebix Insurance is a major development from the Company’s perspective since Life insurance is traditionally one of the fastest growing insurance segments in the country.

Mr. Ashishkumar Chauhan, MD & CEO-Ebix Insurance, said “At Ebix Insurance, our objective is to reach out to every citizen of the country and provide insurance solutions as per their needs. Our partnership with LIC not only aims at providing relevant insurance products but will also provide best-in-class services to their customers through our unique digital initiatives. Further enriching the client experience, Ebix Insurance digital capabilities support servicing and help our clients select relevant policies.”

Ebix Insurance strategy is to have an unrivalled ‘Phygital’ pan India reach by combining the physical presence of tens of thousands of PoSPs with an omnichannel digital channel, thereby allowing its PoSPs to have access to extensive real-time quotes from insurance companies and to complete the entire transaction online on behalf of their customers. Through its technology, Ebix Insurance empowers PoSPs to deliver best of the Insurance products and provide comfort to the end customers by transacting physically at the speed of digital technology. This presents a huge opportunity for Ebix Insurance to build its Life insurance portfolio.

Ebix Insurancehad beta launched its operations on February 7, 2020, with the offering of private car and two-wheeler auto insurance. The company aims to revolutionize not only buying of insurance from a consumer perspective but also enable insurers to distribute insurance products in a highly efficient manner, while automating and integrating complex back-end processes seamlessly with front end distribution. Currently, there are seven General Insurance companies in Motor, five Health Insurance Companies for Health Products and three Life Insurance Companies for Life Products on the Ebix Insurance platform. Besides, we also issue Policies through offline mode with two more Insurance Companies. As on date, Ebix Insurance has registered over 10,500 Point of Sale Persons (PoSPs) out of which 4,677 are certified and ready to do business through Ebix Insurance Portal.

Ebix Insurance (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. Ebix Insurance is India’s leading exchange group and has played a prominent role in developing the Indian capital market. Ebix Insurance is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. Ebix Insurance 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.

Ebix Insurance also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. Ebix Insurance also has a dedicated MF distribution platform Ebix Insurance StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, Ebix Insurance launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.

Ebix Insurance 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. Ebix Insurance 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 Ebix Insurance, acts as the central counterparty to all trades executed on the Ebix Insurance trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. Ebix Insurance Institute Ltd, another fully owned subsidiary of Ebix Insurance runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of Ebix Insurance, is one of the two Depositories in India.

Ebix Insurance 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. Ebix Insurance Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.

With 196 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 develops and deploys 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.

The Company’s EbixCash Financial exchange subsidiary is a leader in domestic and international money remittance, foreign exchange (Forex), travel, pre-paid/gift cards, utility payments, software solutions for lending, wealth management, bus exchanges and insurance in India and other international markets. Ebix and its subsidiaries employ 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