STAMFORD, Conn. and ATLANTA, Feb. 25, 2015 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE:IHC) today announced that IHC Health Solutions, Inc., which administers multiple health insurance lines of business for IHC's carriers and other insurance companies, has launched EbixEnterprise, a state-of-the-art system in conjunction with Ebix, Inc. (Nasdaq:EBIX).
IHC's successful launch of EbixEnterprise marks a multi-year project that started in 2012 when IHC and Ebix first partnered to develop the comprehensive platform.This system encompasses several Ebix products that connect multiple insurance constituents, including consumers, health providers, risk takers (carriers, issuers and health plans), distributors (marketers, producers and health exchanges) and administrators (payors and TPAs). EbixEnterprise integrates all of the following tools and services: customer relations management (CRM), insurance shopping, enrollment, fulfillment, billing/collecting, policy administration, claims payment, distribution compensation, document management, audit, workflow, and full accounting; as well as delivering enhanced reporting and business intelligence through web portals, self-service capabilities and a data warehouse.
Pete Wirski, president of IHC Health Solutions, stated, "Given IHC's strong background in administering individual and group major medical products for numerous carriers, this new, fully-integrated platform further enhances our capabilities to manage a diverse portfolio of health insurance products in multiple health care markets on both public and private exchanges. We are considered to be a market leader nationally in providing front and back-end systems to health systems, insurance companies and ACOs."
Jim Senge, senior vice president of Ebix Health, commented, "The EbixEnterprise technology platform addresses the emerging health insurance market needs in the post health care reform industry. This platform seamlessly integrates Ebix's new and multiple existing products for a full spectrum of both front-end and back-end health insurance sales and administration needs. Unlike many technology solutions that exist today, EbixEnteprise is a turn-key solution for carriers/issuers, health plans, ACOs, health delivery networks and other entities participating in the new health care markets."
For more information on IHC's launch of EbixExchange, please contact Pete Wirski at 602-417-2169.
About Independence Holding Company
Independence Holding Company is a holding company principally engaged in the life and health insurance business, and the acquisition of blocks of policies, through its insurance company subsidiaries (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company) and its marketing and administrative affiliates. Standard Security Life furnishes medical stop-loss, group major and limited medical, short-term medical, group long-term and short-term disability and life, group and individual dental, vision and various supplemental products. Madison National Life sells group life and disability, group major and limited medical, group and individual dental, individual life insurance and various supplemental products. Independence American offers pet insurance, non-subscriber occupational accident, short-term medical, medical stop-loss, group and individual dental and various supplemental products. IHC owns certain subsidiaries through its majority ownership of American Independence Corp. (Nasdaq:AMIC), which is a holding company principally engaged in the insurance and reinsurance business.
About IHC Health Solutions, Inc.
IHC Health Solutions is a full service administrative services company that operates in the individual and small employer markets and is licensed to do business in most states. For a complete list of states where the company is licensed, please contact us. The company administers a variety of IHC products and provides services across multiple carriers and distribution channels.
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, Ebix, Inc., (Nasdaq:EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance solutions to custom software development for all entities involved in the insurance industry.
With 40+ offices across Australia, Brazil, Canada, India, New Zealand, Singapore, the US and the UK, 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. For more information, visit the Company's website at www.ebix.com.
Certain statements and information contained in this release may be considered "forward-looking statements," such as statements relating to management's views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the markets in which IHC operates, new federal or state governmental regulation, IHC's ability to effectively operate, integrate and leverage any past or future strategic acquisition, and other factors which can be found in IHC's other news releases and filings with the Securities and Exchange Commission. IHC expressly disclaims any duty to update its forward-looking statements unless required by applicable law.