Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Union Budget
Budget 2011-2012 Home
Industry Expectations - Budget 2011-2012
Industry Reactions - Budget 2011-2012
Budget 2010-2011
Budget 2010-2011 Home
Industry Expectations - Budget 2010-2011
Industry Reactions - Budget 2010-2011
Contributor's Corner
Bonanza Portfolio
Hemant K Gupta
Krish Bhatt
S A A R T H I
Trinity Investments
Exchange Information
BSE 2009 Holidays
NSE 2009 Holidays
Investor Guide
Depository & Dematerialisation
Grievance Redressal
Investor Guide
SEBI
Trading of Securities
Transfer of Securities
Your Rights
Budget 2009-2010
Budget 2009-2010 Home
Industry Expectations - Budget 2009-2010
Industry Reactions - Budget 2009-2010
Interim Budget 2009-2010 Home
Industry Expectations - Interim Budget 2009
Budget 2008-2009
Railway Budget 2008-2009
Industry Expectations - Budget 2008
Union Budget 2008-2009
Highlights of Budget 2008-2009
Summary of Budget 2008-2009
Industry Reactions - Budget 2008
IPOs
Current IPOs
Past IPOs
IPO Subscription
Mutual Funds
Gold Exchange Traded Fund
MF Unique Holding
Forthcoming Dividends
ELSS Schemes Comparison
Tax Plans
New Fund Offers
Research
Arbitrages
Equity
Market Whispers
Tax Planning
Home
Equity Linked Savings Scheme
Post Office MIS
9% GOI Senior Citizens Savings Scheme
8% Savings (Taxable) Bonds
Kisan Vikas Patra
National Savings Certificate
Public Provident Fund
Industry News

| More

BSE and Ebix Sign MOU to Launch Joint Venture Company

Posted On: 2017-10-28 21:16:01

India's leading stock exchange BSE and World's largest insurance exchange Ebix, Inc. (NASDAQ: EBIX), have announced that they have 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.

Speaking at the occasion Shri Ashishkumar Chauhan, MD and CEO, BSE said "BSE welcomes the collaboration between BIL and Ebix. We are pleased to team up with Ebix in this venture which has a potential of allowing consumers across the length and breadth of the country, easier and faster access to preserving their wealth through buying insurance and expeditious claims settlement. It shall be our endeavor to provide customers a world class experience by being close to where they are by leveraging our vast hugely compliant distribution network, as also through the adoption of state of the art world leading technology."

Led by an Indian - American CEO, Ebix was recently ranked amongst the World's 100 Fastest Growing Companies by Fortune magazine in September 2017. Ebix CEO Robin Raina who is presently visiting India, has the unique distinction of being the only CEO on Fortune's 2017 list of Fastest Growing Companies in the world, who has featured on the coveted Fortune list 5 times in the last decade, as also providing 21,000 percent shareholder return since December 2000.

Ebix Group Chairman, President and CEO Robin Raina said, "With a population of approximately 1.2 billion people and the largest growing middle class in the world, India is set to be a large insurance market - as wherever people create wealth, they tend to find ways to protect it through insurance. We are excited to be teaming up with Bombay Stock Exchange in this venture, that we feel can revolutionize the end-to-end processing of insurance in India. Our intent is to do that by going PHYGITAL - owning the last mile and combining the physical reach of tens of thousands of distribution outlets across the country with state of the art end-to-end technology and processes."

This joint venture with one of the world's largest stock exchanges with overall market capitalization of more than $ 2 Trillion, is part of Ebix's ambitious drive to pioneer the convergence of insurance and financial channels in India. Towards that extent, Ebix recently announced that it intends to invest $200 million in India. The Company recently announced four acquisitions in the Financial Exchange sector, with the goal of embracing Prime Minister Modi's vision of a Digital India, while being a one-stop PHYGITAL platform for money remittances, bill payments, pre-paid & gift cards, insurance, mutual funds, mobile & dth recharges, travel ticketing etc.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Essar concludes sale of Aegis to Capital Square Partners for US $ 300 Million (Approximately Rs.2,000 crore)
ESAF Small Finance Bank kicks off operations in Mumbai
2.0 Audio Launch Sets Benchmark for International Film Events in Dubai
Comments on on 'Pradhan Mantri Sahaj Bijli Har Ghar Yojana' - Power for All
SVC Bank launches hassle-free ASBA facility for IPOs
Flipkart's Big Billion Days To Kick In From September 20
Genpact Acquires Digital Customer Experience Consulting Firm TandemSeven
PAYBACK India Announces Appointment of new CEO
IndiaFirst Life acknowledged with Social Inclusion Award 2017 by Fintelekt
Apollo Munich Launches India's First Travel Insurance Chatbot - 'Travel Ninja'
On its run up to an IPO, ShopClues appoints Deepak Sharma as CFO
Cognizant Opens New Digital Business Collaboratory in London
Morphy Richards appoints J Walter Thompson as their creative agency
edX partners with IL&FS / IFIN to launch learning academy
PAYBACK India wins the Best Loyalty Program 2017 award at CMO Asia 'National Awards for Marketing Excellence'
Hyundai Launches the Most Unique & Global 'Online Buying Experience'- 'HyBuy'
Myntra launches The Game of Thrones collection ahead of the much awaited season 7
DBS Bank Strengthens India franchise on 24% growth in advances and 15% in deposits during FY 2016-17
Apollo Munich Health Insurance ranked as top 'Great place to Work' in Indian Insurance Sector
92.7 BIG FM's New and Refreshed Stationality in Bengaluru, Celebrates Music With 'Sandalwood Jothe Bollywood Blast'
Omega Healthcare inaugurates 4th facility in Trichy
Broadridge Opens Fourth Office in India in Bangalore
Myntra targets 25x sales; 4 lakh new customers during the 6th edition of its flagship - 'End of Reason Sale'!
ARQ Midcap stocks gives its investors' 42.66% return on investments
Now check Train PNR status after booking tickets on Paytm
LANXESS to streamline the chrome value chain of its leather business
BankBazaar android app crosses 1Million downloads
Amazon.in launches 'GST Cafés' to train sellers on GST compliance
Overnite Express looking for franchise to expand all across the country
Salman Khan's Tubelight to be released across 4400 screens in India
Paytm introduces zero cancellation-handling fees for flight tickets
Finvasia introduces Zero brokerage trading - The new age of stock trading arrives
AGS Transact Technologies Limited to implement Automatic Fare Collection system for the Kochi Metro
LANXESS expects best results in company history in 2017
NIIT University (NU) addresses IT industry's urgent need for Next Gen digitally skilled engineers
Union Ministry of Food Processing Industries launches World Food India Website www.worldfoodindia.in
Hospitals, bidi workers and public health organizations welcome's GST Council decision to tax all tobacco products including bidis at 28% saving millions of lives
Gionee India Ropes In Prabhas as Brand Ambassador; Welcomes A Mighty Addition to The World Of #Selfiestan
Angel Broking bags prestigious 'Commodity Broker of the Year Award'
Angel Broking brings UPI in Investing
Bayer wins 'Best Employer in India 2017' Award
Yogi Adityanath cancels bids to procure 3800 MW power: Angel Broking
India's Buying Propensity Soars in January 2017, Dips Sharply in March
Start ups - Blue Ocean Market Intelligence and HelloSoda India win Angel Broking's Fintech Challenge
IBM and Red Hat Collaborate to Accelerate Hybrid Cloud Adoption with OpenStack
Elara Technologies Introduces a Un ique Offering for the Indian Real Estate Ecosystem for International Exposure
Tally Solutions joins hands with The Guild and CNBC Awaaz as Technology Partner and conducts its 'SME Futures' program in Hyderabad
Birlasoft Announces TruView CLM - a Salesforce Fullforce Solution for Media & Entertainment industry
Manipal CDC's new platform makes maiden investment in iGenetic Diagnostics
Tractors India Private Limited inks deal with RungePincockMinarco to deliver enterprise solutions for the Digital Mines of the Future


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2017