HUGE news today...Monday September 13, 8:26 am Eastern Time
Company Press Release
Premier Broker Association, the Council of Insurance Agents & Brokers, Endorses Delphi's Internet Insurance Exchange, ebix.com
ROLLING MEADOWS, Ill.--(BUSINESS WIRE)--Sept. 13, 1999--Delphi Information Systems, Inc. (Nasdaq:DLPH - news) today announced that the Council of Insurance Agents & Brokers (CIAB), which represents insurance agencies and brokerage firms that place nearly 80 percent of United States commercial property/casualty premiums, has given its official endorsement and support to the industry's first e-commerce portal, ebix.com.
CIAB member firms, with over 3,000 locations, will now receive automatic registration to the site, giving them access to a streamlined business process and preferred discount status on transactions through ebix.com. In turn, The Council will help promote ebix.com in its forums and conferences. The agreement between The Council and Delphi will also include joint branding on each company's web site.
Ken A. Crerar, President of the CIAB said: ''With 23 years of insurance expertise leveraged in this portal, ebix.com has all the makings of being the desktop of choice to all insurance professionals. Our support for ebix.com was natural once we realized it will give our members access to efficient, streamlined business processes and contribute to increased profitability.''
The Council's Director of Strategic Technology, Frank Sentner, added: ''ebix.link brings collaborative processing to the insurance industry - which means that a number of people can work on the same document simultaneously. This is a major step forward from potential inaccuracies, resulting out of the sequential processing that we have had to resort to up until now.''
Robin Raina, President, Delphi Information Systems, commented: ''We are excited to be getting this endorsement from a renowned association like the CIAB, whose membership accounts for over $90 billion in commercial property/casualty premiums in the United States. We are committed to redefining the standards of productivity in this industry, while offering agents and carriers an online interfaced mechanism across business processes and ebix.com is a step in that direction.''
About ebix.com
ebix.com, an HP Enabled E-Service, is the only site on the Web to meet the insurance needs of both the consumer and the insurance professional. ebix.com includes a virtual marketplace, ebix.mall, where consumers can define their policy coverages and seek competitive quotes from a number of carriers or agents/brokers in a timeframe defined by the consumer. This allows consumers to compare prices in a non-threatening environment and buy insurance online if they so desire.
ebix.com also incorporates powerful and secure business tools for agents/brokers, including the recently launched workflow and management engine ebix.link. ebix.link is currently being piloted by a number of leading carriers and agents in the United States and Mexico, drawing from Delphi's strong business relationships with six of the ten largest insurance agencies in the world and over 3,000 agencies in the United States. This workflow engine, launched in January, can save insurance professionals up to 70 percent in time, energy and costs associated with processing day-to-day transactions.
About Delphi Information Systems:
Founded in 1976, Delphi Information Systems, Inc. (NASDAQ:DLPH - news) is a leading international supplier of software and Internet solutions to the insurance industry. An independent provider, Delphi provides products, support and consultancy to over 3,000 customers on six continents. Delphi is the only insurance software provider that offers agency/broker management systems created by insurance professionals to serve the unique needs of each insurance segment around the world. Delphi's agency management products feature fully customizable and scalable software designed to improve the way insurance professionals manage all aspects of insurance distribution, including: marketing, sales, service, accounting and management.
About the CIAB:
Since 1913, The Council of Insurance Agents and Brokers has provided leadership while representing the largest most productive and most profitable commercial property/casualty insurance agencies and brokerage firms in the United States and abroad. Member firms of the Council specialize in a wide range of insurance products and risk management services for business, industry, government and the public.
For more information on the CIAB, visit www.ciab.com
For more information on Delphi products and services, call 1-800-4DELPHI (800.433.5744) or visit the Delphi Web site at www.dlph.com.
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filing with the Securities and Exchange Commission.
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