EbixExchange is a developer of Web-based life insurance and annuity sales service applications. The firm provides automation for research, quoting, compliant illustrations and application order-entry via its VitalSales Suite, WinFlex, LifeSpeed and AnnuityNet platforms.
ACORD, a global, nonprofit insurance association that promotes the development and use of standards for the insurance, reinsurance, and related financial services industries, recognizes members who have provided exemplary effort in enhancing, implementing, and advocating ACORD data standards.
Through this year’s program, ACORD presented three awards to EbixExchange: the Innovative Implementation Award, the Shared Service/Outsourcer or Infrastructure Platform/Middleware Award, and the Early Adopter – Forms Award. These awards represent ACORD’s appreciation of EbixExchange’s efforts in collaborating with ACORD industry forums and promoting the most recent ACORD standards within the EbixExchange technology offerings.
"I congratulate EbixExchange on winning three 2009 ACORD awards and applaud them for their leadership. They continually show the industry how vital ACORD data standards are for all participants,” said
The awards also commemorate ACORD certification that new features within AnnuityNet were fully compliant with ACORD standards. The Innovative Implementation award was provided in recognition of ACORD certification of the ACORD standards used within AnnuityNet’s implementation of ACORD’s 1201 Product Profile for Annuities and Distributor Profile for Annuities standard which provides distributors with product details such as product, funds, features, and other provisions to assist with providing in-good-order transactions. This award also recognizes EbixExchange’s involvement with ACORD’s 510 eSignature and e-doc message standard. EbixExchange received the Shared Service/Outsourcer or Infrastructure Platform/Middleware Award in recognition of the provider’s automated business processes to support straight through processing and enhancements of the ACORD standards. Award of the Early Adopter Award – Forms was principally based upon EbixExchange’s implementation of the ACORD 951 form within the AnnuityNet environment. ACORD standards are supported within the platform’s protocols by which carriers upload business rules associated with their products to the platform and by which a series of checks and data updates are provided to distributors accessing the carriers’ products – ultimately producing a new business transaction to automate the complete process.
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