Industry experts have been predicting significant growth in the Brazilian insurance market in the next few years. And today, Ebix an international supplier of on-demand software and e-commerce services to the insurance industry, announced that its subsidiary Ebix Latin America reached an agreement with SINCOR-SP (Syndicate of Insurance Brokers of the State of São Paulo) for the implementation and deployment of a multi-quote insurance exchange solution.
According to Ebix, there are about 70,000 brokers in Brazil, of which 40 percent operate in São Paulo and are associated to SINCOR-SP. The solution is the first broker-led initiative in Brazil to promote a New Business Exchange Hub, connecting both insurance brokers and carriers, the company said.
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