Farmers Union Mutual Insurance Company Selects Ebix for Its End-to-End SaaS Based Policy Administration System Needs
ATLANTA, March 6, 2013 (GLOBE NEWSWIRE) -- Farmers Union Mutual Insurance Company of North Dakota, an insurance company that provides comprehensive lines of Property & Casualty products, and Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that FUMIC-ND has selected EbixAdvantage as its new end-to-end SaaS platform for all its front and back end policy administration needs such as rating, underwriting, policy administration, accounting, general ledger, billing and claims management.
Headquartered in Jamestown, ND, Farmers Union Mutual Insurance Company of North Dakota delivers a wide variety of products to farmers, ranchers, homeowners, and businesses across North Dakota. As a mutual company, Farmers Union Mutual Insurance Company is owned and governed by its policyholders in much the same way that a cooperative is owned and operated by its members.
Rated "A" Excellent by the A.M. Best Company, FUMIC-ND offers insurance products such as farm owners, homeowners, business owners, and commercial insurance to its customers. FUMIC selected Ebix (EBIX) to support their current business and future product development and to provide enhanced operational efficiencies for their growing agency distribution channel.
EbixAdvantage is a modern and powerful pure SaaS-based, multi-lingual, multi-currency system, designed to cater to the complete range of general insurance activities such as client management, policy administration, rating and quoting, claims management, accounting, and document management while providing an option to do comparative quoting for direct broking operations of insurance carriers, MGA's and brokers.
"Ebix's industry knowledge, depth of functionality, SaaS based technology, and end-to-end solution approach were key in our selection of Ebix," said Mark Anderson, General Manager FUMIC-ND. "We are confident that Ebix will help us provide deep and broad functionality for our core operations and has the flexibility to help us quickly and effectively deliver enhanced customer service."
"We are proud to have Farmers Union Mutual Insurance Company of North Dakota as a customer," said Jon Mayo, Vice President - Ebix, US P&C Operations, "FUMIC-ND has a proven record of excellent customer service since 1944. We are committed to ensuring that our end-to-end back-end solutions help them deliver insurance across all distribution mediums, while improving underwriting discipline and lowering operational costs."
About FUMIC-North Dakota
Incorporated in 1944 and headquartered in Jamestown, ND, Farmers Union Mutual Insurance Company of North Dakota delivers a wide variety of products to farmers, ranchers, homeowners, and businesses across North Dakota. Through the protection the company affords policyholders and its investment portfolio, Farmers Union Mutual Insurance Company is committed to both rural and urban North Dakota. For more information please, visit http://ndfu.org/fui/InsureHome.htm
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (Nasdaq:EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.
With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. Ebix's focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute's Capability Maturity Model (CMM). With a recent ISO 27001-security certification, the Company also has a ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Company's website at www.ebix.com
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Source: Ebix, Inc. 2013 GlobeNewswire, Inc.