Ebix 2nd on Fortune List of Best Investments

For those of you who have been around insurance technology for a while, the title of this post may surprise you. Ebix (formerly known as Delphi Information Systems) has had more near-death experiences than any other insurance technology company I know. Robin Raina joined Ebix in 1997 as VP – Professional Services. After a series of promotions he was named CEO in 1999 and Chairman in 2002.

Raina leadership has been responsible for taking Ebix (NASDAQ: EBIX) from near death to now being ranked 2nd on FORTUNE magazine’s list of Best Investments in the world. The list, which comprises the 100 fastest growing companies in the world, appears in the August  31, 2009, issue of FORTUNE magazine. The complete article is available on www.Fortune.com.

Ebix was ranked No.4 among the 100 fastest growing companies, named “the World’s supercharged performers” by FORTUNE magazine.  FORTUNE also ranked Ebix as the No.1 fastest growing company from Georgia on the list. Ebix was ranked 20th based on profit growth and 29th based on sales growth, on the list.

In case you are not familiar with Ebix, they provide products and services to the insurance industry worldwide in four areas:

  1. Worldwide sales, customization, development, implementation and support of its insurance carrier system platforms “Infinity Systems” and “Business Reinsurance and Insurance Company System” (BRICS).
  2. Worldwide sales and support of broker/agency management systems including EbixASP, eGlobal and Winbeat.
  3. Expansion of connectivity between consumers, agents, carriers, and third party providers through its exchange family of products in the life, health, annuity and property & casualty sectors worldwide, namely the EbixExchange family of products.
  4. Business process outsourcing services, which include certificate origination, certificate tracking, call center and back office support.

Congratulations to Robin and his team on this recognition.

Take our 17th Annual Technology Self-Test

Increasing efficiency and effectiveness are the key factors to maintaining profitability. Making sure that your agency is receiving the maximum benefit from your technology investment is the first step. This technology audit self-test is published each year as a tool to help you measure how well you are currently using technology in your agency. As extra incentive, every agency that completes the survey will have immediate access to download the popular HIGH-TECC 2008 recording: Opening Session with Steve Anderson.

Protect Information on Mobile Devices

JumpVault is software that addresses concerns from a growing number of businesses whose employees regularly use BlackBerry, USB flash drives, and other mobile devices to transport and transfer data. JumpVault transforms an ordinary USB flash or mobile device, such as a BlackBerry, into a secure virtual container. JumpVault, created by QuickVault, Inc., is password protected and offers the option for meta data logging to track movement of mobile data files.

The company says JumpVault fully protects information on any mobile storage device with internal flash memory—no matter the file size or type. The product also functions as a backup unit for laptops and workstations often overlooked by enterprise business continuity and disaster recovery programs. That means contracts, proposals, business plans, personal documents, confidential documents, spreadsheets, and legal documents can be protected on mobile storage devices.

Sarbanes-Oxley, Payment Card Industry (PCI), and the Health Insurance Portability and Accountability Act (HIPAA) mandate by law that record holders safeguard certain types of information. JumpVault’s data loss prevention features protect mobile data from unauthorized access or disclosure.

JumpVault software is fully contained on the USB-enabled mobile storage device and operates across a variety of computer operating systems including Windows, Vista, and Mac. JumpVault has a built-in 256-bit encryption and offers the option of scheduled transfer of data from PCs to corporate servers. Data stored on a BlackBerry, for example, cannot be accessed without authentication.

New Web Site Makes Individual Health Insurance Easy to Understand

Clients who have been confused or intimidated by the complexity of health insurance now have an easy way to take the first step towards getting the individual medical coverage they need. A new Web site, SimpleCoverage.org, provides information and guidance to help consumers quickly understand the basics of health insurance and how to find and select a health plan that’s right for them.

The site was developed by Consumers for Competitive Choice (C4CC) Education Fund Inc., a non-profit organization whose purpose is to provide consumers with information and tools to make informed choices in the marketplace. More than 44 million Americans do not have health insurance and another 25 million have less health insurance than they need.

SimpleCoverage.org explains in easy to understand language, the different types of coverage available and how to find insurance, evaluate plans, and what to expect during the application process. For example, the Web site gives consumers suggested questions to ask when choosing individual medical coverage. In addition to the online information, SimpleCoverage.org offers consumers a downloadable brochure: Health Coverage Made Simple. The site was developed and is maintained with a grant from Assurant Health Foundation.

Check the site out. You may want to include a link on your agency Web site to direct clients and prospects to this information resource.

New Version of BenefitPoint Released

AMS Services has released a new version of BenefitPoint, a Web-based, benefit management and procurement solution for brokers and benefit consultants. The new version of BenefitPoint features deeper integration, enhanced commissions tracking and customization, and new event-driven workflow capabilities.

A new component of the commission tracking system, eStatements, is an electronic statement conversion tool designed for BenefitPoint brokerage clients to upload electronic carrier statement data. BenefitPoint’s eStatements substantially decreases the time spent manually entering statement data and helps prevent typing errors.

BenefitPoint is also nearing completion of its real-time integration with Applied Systems’ Vision product. The state-of-the-art integration synchronizes client, policy, and commission data between the two applications, eliminating double entry. With the new version of BenefitPoint, staff members will enjoy deep functionality and reporting, and automatic flow and merging of information into Vision and the overall production reports.