Ebix Risk Compliance Division Signs Contract With Walmart
May 05 2014 - 6:30AM
Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of
On-Demand software and E-commerce services to the insurance,
financial and healthcare industries, today announced that the
Company's Risk Compliance Solutions – RCS Division, (formerly known
as BPO Division), has signed a contract with Walmart Canada
Corporation to effectively monitor and track certificates of
insurance for Walmart. The implementation of the contract is
presently in process with the solution already having been put in
production for Walmart a few days back.
As the largest retailer in Canada with more than 370 stores and
90,000 associates, Walmart deals with thousands of vendors,
contractors and suppliers who provide a variety of products and
services to Walmart. The contract with Ebix requires Ebix to
manage, validate and monitor insurance coverage's that Walmart
requires from its vendors, suppliers and contractors as a
requirement for doing business with Walmart.
Ebix RCS's SaaS based insurance tracking software will automate
all aspects of the Walmart insurance tracking process that
traditionally would have required costly, time-consuming manual
processes. With a comprehensive set of management and activity
reports, Walmart will now be able to monitor each
vendor/supplier/contractor's insurance compliance status anytime on
a 24 by 7 hour basis. The emphasis of the solution is on mitigating
risk for Walmart while increasing overall processing
efficiencies.
Ebix Corporate Vice President Rahul Raina said, "We are honored
to add the largest retailer in the world to our list of prestigious
clients. Using our expertise spread across more than 26 industry
verticals, we are confident that we can help Walmart to fine-tune
its risk compliance approach and bring increased operating
efficiencies to the fore. We intend to ensure that we can make the
experience a smooth and efficient one for both Walmart and its
thousands of vendors, contractors and suppliers."
About Walmart Canada
With headquarters in Mississauga, Ontario, Walmart Canada
operates a growing network of more than 370 stores, including
traditional discount stores, supercentres and an environmental
demonstration store in Burlington, Ontario. With nearly 90,000
associates the company is one of Canada's largest employers.
Walmart Canada's corporate culture was recently ranked among the 10
most admired corporate cultures in Canada by Waterstone Human
Capital Inc.
Walmart is committed to saving Canadians money so they can live
better. Each of its stores carries close to 100,000 different
products ranging from apparel and home decor to electronics and
grocery, plus specialty services such as pharmacies, garden
centres, and vision centres.
About Ebix RCS Division and Ebix, Inc.
As an industry-leading provider of online Certificates of
Insurance tracking/issuance software and services, Ebix RCS manages
millions of insurance certificates annually. With a strong emphasis
on reducing risk exposure and increasing overall processing
efficiencies, Ebix RCS Division provides services to a highly
diversified Client list including leading organizations in over 26
distinct industries. For more information, visit
www.ebixRCS.com.
A leading international supplier of On-Demand software and
E-commerce services to the insurance, finance and healthcare
industries, Ebix, Inc., (Nasdaq:EBIX) provides end-to-end solutions
ranging from infrastructure exchanges, carrier systems, agency
systems and Risk Compliance Solutions services to custom software
development for all entities involved in the insurance
industry.
With 35+ 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.
CONTACT: Ebix
Steven N. Barlow, Vice President - Investor Relations
678-281-2043 or steve.barlow@ebix.com
Aaron Tikkoo
678-281-2027 or atikkoo@ebix.com
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