BERWYN, Pa. and JOHNS CREEK, Ga., Aug. 21, 2019 (GLOBE NEWSWIRE) -- FIDx, the first product-agnostic platform to integrate annuity sales with investment products, today announced a strategic partnership with Ebix Inc. (NASDAQ: EBIX), the leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. Acting as a bridge between insurance carriers and wealth managers, FIDx and Ebix have partnered to help advisors access a pool of annuity offerings into investment portfolios and address their clients financial planning needs.
“We are excited to partner with Ebix and bring their annuity marketplace technology to the FIDx platform to provide a wide range of annuity options for advisors utilizing the Insurance Exchange,” said Rich Romano, CTO of FIDx. “We are dedicated to continuing to expand our offerings and integrate with the top insurance platforms to ensure advisors have a variety of applicable annuity products for their clients to better meet their individual needs. By partnering with Ebix, we are expanding that ability to deliver a streamlined way to fully integrate annuities into client portfolios – an offering that was not widely available previously.”
Historically, these types of annuity offerings have been unpopular with financial advisors due to complex regulations and challenging to transact, given a lack of innovative platforms to bring those products to the advisors’ fingertips. Through this strategic partnership, the Ebix product marketplace is now integrated and available on the FIDx platform, bringing new products to Advisors, and opening new markets to the Insurance carriers.
“With this collaboration, we are expanding into a brand-new market where the tools to support Annuity and Life Insurance sales have not previously existed. We are thrilled to be partnering with FidX to create an innovative solution that will be exciting to Advisors in this sector, and expand the reach of our core clients,” said Chad Ross, Vice President and Head of Business Development. “This was a natural partnership, and we’re excited to be on the frontline of this industry-changing technology.”
FIDx officially launched the Insurance Exchange (Ix) in June 2019, to fill a much-needed gap in the annuity and financial services space. As a product-agnostic exchange, the company acts as the middleman, seamlessly connecting advisors to leading insurance carriers and annuity products. Founded by notable industry problem solvers, FIDx puts annuity sales on par with mutual funds, exchange-traded funds, and separately managed accounts.
About Fiduciary Exchange, LLC (FIDx)
Fiduciary Exchange, LLC (FIDx) is a technology-empowered network that seamlessly integrates the brokerage, insurance and advisory ecosystems to offer best-in-class annuities and insurance solutions from the industry’s leading carriers. Motivated by its mission to expand the frontiers of the wealth management space and provide holistic solutions to address investors’ changing needs, FIDx enables advisors to offer guaranteed income and downside protection as core components of their clients’ portfolios—integrated within the same wealth management platforms they already use every day. An independent technology firm led by seasoned industry veterans and built from the ground up as an integrated platform, FIDx is providing a modern solution to bridge advisory firms to insurance carriers so advisors can truly deliver comprehensive advice, enabling their clients to achieve retirement security. For more information on FIDx, please visit www.fid-x.com
About Ebix, Inc.
With 50+ 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’s main focus is to develop and deploy 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.
With a "Phygital” strategy that combines 320,000 physical distribution outlets in many Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, foreign exchange (Forex), travel, pre-paid & gift cards, utility payments, lending, wealth management etc. in India and other markets. EbixCash’s Forex operations have emerged as a leader in India’s airport Foreign Exchange business with operations in 32 international airports including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction value per year. EbixCash’s inward remittance business in India conducts approx. $6.5 billion gross annual remittance business, confirming its undisputed leadership position in India. EbixCash, through its travel portfolio of Via and Mercury, is also one of Southeast Asia’s leading travel exchanges with over 2,200+ employees, 212,450+ agent network, 25 branches and over 9,800 corporate clients; processing an estimated $2.5 billion in gross merchandise value per year. For more information, visit the Company’s website at www.ebix.com
CONTACT:
Darren Joseph
IR@ebix.com or 678 281 2027
David Collins or Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com