Atlanta, GA – May 05, 2014 – 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