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Ebix Quarterly eNews Jan-Mar 2019 Featured

Friday, 22 March 2019 14:43

eNews email header

2019 is well and truly underway, and Ebix have hit the ground running. This quarter Ebix successfully upgraded our CRM platform SmartOffice Pro; Sunrise Exchange welcomed a leading insurtech to its product range; and Ebix 2018 results were released, reporting record revenues for the global company. The CBS team have also been working hard on a major release due out after the Easter break; we cover the highlights here in this edition of Ebix Quarterly eNews.


SmartOffice UpgradeIntroducing SO Pro
Ebix CRM platform SmartOffice Pro was successfully upgraded last month. The upgrade has added a list of exciting enhancements and new features to the system, including: 

  • Improved contact management, including better overall navigation, enhancements to the Calendar, and more fields added to People & Companies
  • Improved file management with added ability to drag and drop files straight into the SmartOffice web browser, as well as link files to a local location, ensuring documents are the most up to date
  • Ability to make mass modifications and increased export options for improved efficiency
  • Overall enhanced email communication abilities, including additional field merge codes for customised email correspondence and marketing
  • Increased security with optional Two-Step Authentication
  • Improvements to SmartOffice Anywhere, the lightweight mobile-friendly version of SmartOffice
  • +MORE…

The full release notes are available here for more details on what was included in last month’s SmartOffice Pro upgrade.

If you would like to learn more about how SmartOffice CRM increases business efficiency, highlights business opportunities, and improves client services, visit the SmartOffice page or email This email address is being protected from spambots. You need JavaScript enabled to view it.


Insurtech Startup Product Added to Sunrisecatriona
Ebix are pleased to announce that leading insurtech TravelCard have launched their innovative Annual Corporate Travel product on Sunrise Exchange. TravelCard is a one-of-a-kind insurtech addressing the pain points of travel insurance head-on.

While there are a number of insurtech startups trying to make their mark on the industry - Travel with Jane, Huddle, Pluto, and Revolut, to name but a few – none come as close to filling the gaps left by traditional travel insurance as TravelCard does. Respectively, it’s not surprising that TravelCard has achieved great success in a number of markets, including Israel, Germany, Canada, and the UK, and now they’ve brought their revolutionary product to Australia.

TravelCard officially launched their real-time travel insurance in Australia April 2018 exclusively to the Broker channel, partnering up with The Hollard Insurance Company. Unlike most travel insurance that can take up to 45 days and 13 interactions for a claim to be processed, TravelCard pays claims within minutes.

Too good to be true? Here’s how it works: when a TravelCard Policy is purchased, the policy holder receives a special debit MasterCard in the mail. When something bad happens and a claim needs to be made, funds will be instantly transferred to the card.

  • Claims processed in real-time (minutes)
  • Claims processing and support here in Australia
  • Flexible on referrals
  • Brokers receive commission on referred Leisure covers (and any repeat Leisure covers thereafter)
  • Product ease-of-use with prepopulated fields (where information is available within the broking system)
  • Focused exclusively on the Broker channel

What does this mean for you and your client? No out-of-pocket expenses, no mountains of paperwork, and no waiting. TravelCard are focused on providing travel insurance that is easy and transparent, choosing to trust their members and believe them when they make a claim.

Big data allows TravelCard to identify patterns in claims of all kinds from around the globe, and determine what a ‘reasonable and customary’ claim looks like. This information is then applied to incoming claims, and if there is a match the claim is instantly paid out onto the MasterCard. The increased percentage of claims paid out is balanced by the minimised administration costs due to the lack of paperwork required, and an 86% customer return rate.

TravelCard offer three types of cover: Corporate cover for business, Leisure cover for individuals, and Business class for employees. We are delighted that TravelCard have chosen Ebix as their selected product distributer to brokers. 

“TravelCard would like to thank and recognise Hiren Harjivan, Craig Lloyd, Mike Muskens and Joanne Matic for their advice, consultation and above & beyond support in creating our customer experience onto the Platform.” - Greg Pike, Head of Customer Experience, TravelCard.


CBS and CBS WebAccess Updatenew release cbs 7.4
Ebix will be delivering the next General Release for both CBS and CBS WebAccess in Q2 2019. As with all releases, this includes latest fixes, as well as a significant number of enhances to the platforms. Keep an eye out for an upcoming email that will give a more detailed outline of what to expect from this update, including accompanying Release Notes.

Some of the highlights include: 

  • Audit Reporting on Bank Account Changes
  • Amendments to Online Funding Module
  • Validations in respect of Multi Client for Policy Transfers
  • Corrections to GST updates on Quotes
  • Changes to the Client Number allocation algorithm
  • Corrections on GST for Overseas Insurers posting to the Insurers Control
  • Register of Insurance now available in Web Access
  • Duplicate Cover Number Search correction Web Access

 


 Business Transformation Drives Ebix Revenue Growth

Ebix revenueEbix 2018 revenue results were released March 1st 2019, reporting a record year for the company. Revenue rose 39% in 2018 to $504.8M. Ebix CEO, Robin Raina, attributed Ebix’s success to ‘a relentless focus on customer success through pioneering exchanges’. It also follows a slew of acquisitions for the firm, which began with EbixCash (formerly ItzCash), India, in early 2017. EbixCash is now the company’s largest channel accounting for 80% of the company’s 2018 revenue.

Robin endorsed Ebix Australia at the 4th quarter Investor Call for its 2018 performance, also achieving record revenues for the year. Ebix Australia signed some key new clients in 2018, including Life Insurance new comer NEOS, and global insurance broker Gallaghers.

2018 marked the 19th consecutive year of revenue growth for Ebix. A more detailed version of the Investors Call highlights can be found here.

 


 New Release WinBEAT4.2.20

new release winbeat 4.2.20

The next release of WinBEAT is due out around mid-April. This release will include the “Premium Comparison” facility, required for NSW property risks from 1 July 2019.
New features include:

  • Convert Sunrise Quote to a Renewal – allowing users to obtain Sunrise quotes and then use the selected quote to ‘renew’ or ‘transfer renew’ an existing Sunrise policy
  • Account Manager FSG version – an Account Manager may now have their own FSG version automatically recorded for their clients.
  • IQumulate Funding – updated branding and URLs for IQumulate Funding (previously Macquarie Pacific)
  • Security enhancements – new alert email to go to specified Administrator email address when Client, Underwriter, Associate or Funder bank account details are changed.

Reports Enhancements:

  • The WinBEAT Income reports have been enhanced to show the separate income components for Fee, Special Fee and Primary and Secondary Associate commission.
  • Associate commission will now be displayed on the Renewals Pending Summary and Detailed reports
  • Additional details are now included in the Activity log report when bank account details are changed.

For full details of all the enhancements you can review the WinBEAT4.2.20 Release Notes which will shortly be available via HELP in WinBEAT.

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