What Ebix does

Ebix is a diversified B2B technology platform provider that operates digital exchanges and SaaS solutions across insurance, finance, travel, and healthcare, serving more than 20,000 clients in over 40 countries. The platform architecture is organized around vertical-specific exchanges — EbixEnterprise and Quote to Card for health insurance and group benefits, EbixEvolution/EbixASP for property and casualty, Ebix Life Exchange for life, EbixRCS (with CertificatesNow, wcExchange, RiskEnvision) and Ebix COI for risk compliance, and ExposureHub for real-time exposure analytics — unified by the EbixOne AI layer that includes ExposureModel and GeoRiskX. EbixCash (with Delphi World Money, Zillious, Via, Mercury Travels) handles payments, forex, money transfer, and travel distribution, processing $8B+ in annual remittance and 8M+ travel bookings. AI capabilities span document extraction for certificates of insurance, AI-powered COI validation against contract requirements, generative AI assistants embedded in compliance workflows, and a Verified Medical Data Platform built on A.D.A.M. and Oakstone clinical content.

Revenue is generated through subscription/recurring SaaS fees on enterprise insurance and lending platforms, transaction fees on EbixCash payments and travel distribution, and subscription revenue from health content and CME products. Go-to-market is predominantly direct enterprise sales targeting insurers, brokers, banks, and lenders, supplemented by subsidiary-led consumer distribution in India and technology partnerships (e.g., Entsia for accelerated product launches on the Sunrise Exchange). The company was originally NASDAQ-listed as Ebix Inc. (EBIX) until August 2024, when Indian firm Eraaya Lifespaces acquired a 97.58% stake for $138.577 million through US insolvency proceedings and subsequently rebranded as Ebix Limited in June 2026.

The business operates under significant governance and regulatory headwinds: India's Enforcement Directorate has provisionally attached assets exceeding Rs 940 crore linked to Chairman Dr. Vikas Garg in connection with the acquisition, the Delhi Commercial Court has restrained former CEO Robin Raina from interfering in operations, and the RBI has imposed penalties on Ebix Payment Services for KYC deficiencies.

Name

Ebix

Legal name

Ebix Inc.

Website

https://ebix.com

Company type

Public

Founded year

1976

Operating status

Acquired

Headcount range

1,001–5,000 employees

Short description

Ebix operates B2B digital exchanges and SaaS platforms for insurance, payments, travel, and healthcare, serving 20,000+ enterprise and consumer clients across 40+ countries through proprietary vertical exchanges unified by its EbixOne AI layer.

Ownership category

akta.pro rank

Product category

Insurance Technology Software

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Finance and Insurance (52)

SIC

Insurance Agents, Brokers & Service (6411), Finance Services (6199)

akta.pro primary industry

B2B/EDI & Partner Integration (BPAMAOAJ)

akta.pro secondary industries

Invoicing, Billing & Accounts Receivable Automation (FSAGAJAC), Biller Direct EBPP Platforms (FSAMAJAA)

Keywords

• Insurance software solutions
• Risk compliance platforms
• Digital insurance exchange
• Health insurance administration
• Payments and remittance

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Technology Platforms: SaaS-based exchanges and platforms for Health, Life, Property & Casualty Insurance, Risk Management & Compliance, serving insurers, brokers, agents, and employers with enrollment, policy administration, claims, and compliance solutions
2. Payments and Forex (EbixCash): Comprehensive financial solutions including money transfers, BBPS, AEPS, UPI, micro-ATMs, travel cards, forex services, and bill payments across India with $8B+ annual money remittance
3. Travel Distribution: High-velocity travel distribution for Airlines, OTAs, Consolidators & Corporate Travel Programs through Zillious, Via, Mercury Travels with 8M+ annual travel bookings
4. Health Content & Wellness: Consumer health content, digital wellness, and accredited clinical education through A.D.A.M., Oakstone, BeBetter with 1M+ health content users
5. Lending, Asset & Wealth Management: End-to-end digital solutions for Banks, Lenders, and Wealth Institutions covering Onboarding, Advisory, Portfolio Management & Compliance with 450+ solutions installed

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Ebix provides B2B software and digital exchange platforms for the insurance industry, covering health, life, property & casualty, risk compliance, lending, and wealth management, with AI-driven automation through its EbixOne platform. It also operates payment, remittance, and travel distribution services in India and Southeast Asia through sub-brands such as EbixCash, Via, Zillious, and Mercury Travels, and provides health content and continuing medical education via A.D.A.M. and Oakstone.

Product overview

Ebix operates as a diversified B2B technology platform offering insurance, payments, travel, and health content solutions across 40+ countries. The platform consists of multiple interconnected exchanges: EbixEnterprise and EbixEnterprise Quote to Card for health insurance; EbixEvolution, EbixASP, PlacingHub, and Sunrise for property & casualty insurance; Ebix Life Exchange for life insurance; EbixRCS with CertificatesNow, wcExchange, and RiskEnvision for risk compliance; Ebix COI for AI-powered certificate validation; and ExposureHub for portfolio analytics. The EbixOne platform unifies AI initiatives including ExposureModel and GeoRiskX. EbixCash (including Delphi World Money, Zillious, Via) powers payments and travel distribution. Acquired brands including A.D.A.M., Oakstone, and Mercury Travels expand health content, education, and travel capabilities. The architecture combines core exchange platforms with specialized modules, AI-powered tools, and sub-brands into an integrated ecosystem serving insurers, brokers, employers, banks, and consumers.

Differentiator

Problem solved

Functional benefit

Brands

• EbixCash: Payments and Forex services brand offering digital wallet, money transfer, bill payments, and other financial services.
• EbixONE
• Ebix Enterprise
• EbixEvolution
• Ebix Life Exchange
• Ebix RCS
• Sunrise
• ExposureHub
• EbixCabs
• A.D.A.M.
• Oakstone
• Via
• Zillious

Products and services

• EbixEnterprise End-to-end health insurance and employee benefits exchange platform serving insurers, brokers, agents, and employers with enrollment, eligibility, policy administration, billing, claims, and compliance capabilities.
• EbixEnterprise Quote to Card AI-powered cloud platform that streamlines group benefits quoting, enrollment, and onboarding by removing fragmentation in group benefits workflows.
• EbixEvolution Property & casualty insurance exchange platform that enables real-time quoting, placement, binding, and post-binding services for brokers, MGAs, and carriers across regions and lines.
• Sunrise Exchange Insurance exchange platform that enables carriers and brokers to launch products rapidly, with implementation timelines compressed from typical 6-9 months to approximately two weeks as demonstrated with Delta Insurance.
• Ebix Life Exchange Life insurance exchange platform that runs New Business, Underwriting, Policy Administration, Billing, Commissions, and Claims for individual and group life products.
• EbixRCS (Risk Compliance Solutions) Risk compliance and management platform that helps brokers, enterprises, and risk teams manage Certificates of Insurance, automate Workers' Comp filing, and monitor claims, with an AI upgrade including document extraction and validation.
• Ebix COI AI-powered certificate of insurance compliance platform that validates coverage against actual contract requirements and uses an AI Assist Agent to drive deficiency identification and resolution.
• ExposureHub Real-time exposure visibility and portfolio analytics platform for insurers, brokers, and risk teams, operational in London and expanding into the U.S. market.
• EbixOne (AI Platform) Unified AI platform that serves as the home for all Ebix AI initiatives, combining generative AI, NLP, computer vision, and process automation capabilities across insurance, risk, and financial verticals.
• Verified Medical Data Platform Healthcare AI data platform that enables healthcare organizations to develop AI models using trusted, licensed medical content sourced from A.D.A.M. and Oakstone CME.
• Lending, Asset and Wealth Management Solutions End-to-end digital lending, asset, and wealth management solutions for banks, lenders, and wealth institutions covering onboarding, advisory, portfolio management, and compliance.
• EbixCash (Payments and Forex) Comprehensive payment and forex service in India offering money transfers, digital wallets, bill payments, forex operations, prepaid cards, and related financial services.
• Zillious Corporate travel management and booking platform operating in India and Southeast Asia, serving airlines, OTAs, consolidators, and corporate travel programs.
• Via.com Online travel booking platform for flights, hotels, and holiday packages, operating in India under Ebix's travel distribution business.
• Mercury Travels Travel agency and travel services brand operating in India, providing leisure and corporate travel booking services.
• A.D.A.M. (Health Content) Consumer health content platform providing medical information, health education, and wellness resources.
• Oakstone (CME) Accredited clinical education and wellness content platform providing continuing medical education (CME) and clinical content for healthcare professionals.

Quantifiable outcome

• Implementation timeline reduction from 6-9 months to approximately 2 weeks for insurance product launches
• +5 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature8 records

Partnerships

Six partnerships are on record, tiered core and minor.

• EntsiacoreTechnology or Integration · 23 June 2026Entsia partnered with Ebix and Delta Insurance to accelerate the launch of Cyber and Management Liability products on the Ebix Sunrise Exchange platform, reducing typical 6-9 month implementation timelines to approximately 2 weeks. The partnership began in 2023 and the three-way collaboration is highlighted as a model for rapid insurance product launches to capture broker demand.
• Delta InsurancecoreTechnology or Integration · 23 June 2026Delta Insurance launched its Cyber and Management Liability products on the Ebix Sunrise Exchange platform with accelerated implementation through Entsia partnership. The company is exploring further opportunities to expand this partnership for additional products.
• ACORD (Association for Cooperative Operations Research and Development)coreStrategic or Co-development Partner · 3 June 2025Ebix is a key active participant in ACORD's Global Reinsurance & Large Commercial Carrier (GRLC) standards campaign, which aims to eliminate paper and email-based insurance trading in the London market by replacing document-first trading with data-first trading.
• Axa XLminorStrategic or Co-development PartnerAxa XL, one of the largest market players in London's insurance market, is participating in the ACORD GRLC standards initiative alongside Ebix, Lloyd's, and Verisk to drive market-wide adoption of digital standards.
• Lloyd's of LondonminorStrategic or Co-development PartnerLloyd's is participating in the ACORD GRLC standards campaign as part of the London's insurance market digitization drive, working with Ebix, Axa XL, and Verisk.
• VeriskminorStrategic or Co-development PartnerVerisk is a key participant in the ACORD GRLC standards campaign supporting the digitization of London's insurance market trading processes.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Vertafore: Vertafore is a leading provider of insurance software for agents, brokers, and carriers in North America, including agency management, rating, and content management. It directly overlaps with Ebix's EbixEvolution, EbixASP, and broker-facing exchange platforms serving similar P&C distribution workflows.
• Guidewire Software: Guidewire provides core systems (PolicyCenter, ClaimCenter, BillingCenter) for P&C insurers, parallel to EbixEnterprise and Ebix Life Exchange policy admin/billing offerings. It is a direct competitor for carrier-side insurance core modernization deals.
• Applied Systems: Applied Systems offers agency and broker management software (Applied Epic, Applied Rating) for the insurance industry, similar to Ebix's Sunrise and PlacingHub broker-carrier exchange platforms. It is a direct competitor in automating broker-carrier-MGA workflows.
• Duck Creek Technologies: Duck Creek offers a SaaS suite for P&C insurers covering policy, billing, and claims, directly overlapping with EbixEvolution and EbixEnterprise capabilities. Both target mid-market and large carriers seeking cloud-native core system replacement.
• Majesco: Majesco provides cloud-based core insurance software (P&C, Life, Health) for insurers and MGAs, with comparable policy, billing, and claims functionality to Ebix's insurance exchange portfolio. It is a direct competitor in carrier-side SaaS core systems.
• Sapiens International: Sapiens offers insurance software solutions for P&C, Life, and reinsurance carriers globally, including core platforms and digital engagement. It competes with Ebix's life, P&C, and reinsurance-focused exchange platforms for large carrier modernization deals.
• Insurity: Insurity delivers core insurance software and analytics for property/casualty insurers, MGAs, and brokers, comparable to Ebix's P&C exchange and policy administration offerings. Both compete for core modernization and exchange-driven distribution mandates.
• EIS Group: EIS Group provides a digital insurance platform for life, accident & health, and P&C carriers, with comparable policy admin, billing, claims, and digital engagement capabilities to EbixEnterprise and Ebix Life Exchange. It is a direct competitor for enterprise carrier SaaS.

Broad incumbents

• Verisk Analytics: Verisk is a large data analytics and risk assessment incumbent serving insurers, including co-development partner on ACORD GRLC standards. It overlaps with Ebix's ExposureHub, risk compliance, and analytics offerings but as a broader analytics platform rather than transactional exchange.

Emerging players

• Hyland Software: Hyland (OnBase) provides content services and document management used heavily by insurers for underwriting and compliance workflows, partially overlapping with EbixRCS, CertificatesNow, and wcExchange modules. It is a partial competitor in insurance workflow and document automation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/ebixinc
• YouTubeyoutube.com/@EbixCash_Official
• Facebookfacebook.com/Ebix1
• LinkedInlinkedin.com/company/ebix
• Instagraminstagram.com/ebixofficial

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries10 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A40 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ebix