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Critics appear to have centered on considerations about Ebix companies in India, not the North American life and annuity distribution tech operations.
The companies: Along with AnnuityNet, the Ebix North American life and annuity property embody LifeSpeed, a life insurance coverage distribution tech enterprise; WinFlex, a product efficiency illustration instrument; TPP, an insurance coverage coverage underwriting system; and SmartOffice, a buyer relationship administration system for brokers and advisors.
AnnuityNet helps 57 insurers distribute 2,400 merchandise, and LifeSpeed helps about 100 insurers absorb 1.3 million purposes per yr and course of $50 billion in life insurance coverage premium funds, based on a doc filed with the U.S. Chapter Courtroom for the North District of Texas.
The market: AnnuityNet and LifeSpeed compete with Roper Applied sciences’ iPipeline system and Insurance coverage Applied sciences’ Firelight system.
The three firms should join with difficult, extremely safe, extremely regulated entities such because the Depository Belief & Clearing Corp.’s Insurance coverage and Retirement Companies system.
Roper Applied sciences acquired iPipeline in 2019 from a personal fairness agency for $1.6 billion, at a time when iPipeline had $200 million in income.
Robin Raina, Ebix’s CEO, instructed securities analysts throughout a convention name that he believed that AnnuityNet’s income had the next worth as a result of AnnuityNet will get extra of its income within the type of recurring funds, relatively than onetime funds.
Credit score: Shutterstock
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