BSE inks MoU with Ebix, Inc to set up Insurance Distribution Network
Published: Oct 26, 2017
By TIOLCORP News Service
MUMBAI, OCT 26, 2017: Leading stock exchange BSE and World's largest insurance exchange Ebix, Inc. today signed a memorandum of understanding to set up a joint venture, to develop a pioneering insurance distribution network in India. BSE Investments Limited (BIL), 100% subsidiary of BSE and Ebix Fincorp Exchange Pte Ltd, a 100% subsidiary of Ebix today signed this MoU, with the goal of revolutionizing end-to-end sales and processing of Insurance in the country.
The new venture to be branded as BSE-Ebix intends to deploy an insurance distribution exchange platform, that will allow distribution outlets, stock brokers, wealth management advisors and financial institutions etc. across the length and breadth of the country to sell life and non-life products. The venture will utilize the distribution reach of both BSE and Ebix that spans more than 200,000 outlets across the entire expanse of the country. The state of the art platform that will leverage Ebix's world leading end-to-end insurance exchange technology, will encompass the entire insurance life cycle from customer relationship management, agency management, multi-quoting, underwriting, policy creation, claims filing & settlement, to back end insurance policy administration.