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EbixExchange Launches New ERA In Life Insurance Sales Processing

May 19, 2008

[Herndon, VA] — EbixExchange – a division of Ebix, Inc. (NASDAQ: EBIX) announced today that successful end-to-end electronic processing of life insurance applications had been achieved by the firm's new LifeSpeed Platform. The firm views the event as a revolutionary advancement for the life insurance industry.

"We are tremendously excited to be the first commercial provider to bring straight through processing to the life insurance industry," said Dan Delity, EbixExchange's senior vice president. "Also, I want to express our deepest thanks to the first companies to implement the new Platform, World Financial Group, Inc. and its affiliated companies and Western Reserve Life Assurance Co. of Ohio, for these firms had the vision to implement our technology and development methodologies to provide first market entry into a new way for promoting life insurance sales."

LifeSpeed is EbixExchange's online exchange platform that connects life insurance sales producers, BGAs, IMOs, broker/dealers, captive agents, and other distribution channels with life insurance products available from carriers. EbixExchange also provides automation for research, quoting, compliant illustrations and other application order-entry service via its VitalSales Suite, WinFlex, and AnnuityNet platforms.

The initial pilot implementation of LifeSpeed entered into a live production status for WFG on April 28. The initial product offered to pilot WFG producers is an indexed universal life insurance policy available from Western Reserve Life. In the weeks since the pilot launch, EbixExchange, WFG, and Western Reserve Life have confirmed application transactions for the Western Reserve Life product being successfully fulfilled across the LifeSpeed Platform.

In addition to automated data collection and data prefill of application forms and delivery of the application to the carrier for underwriting, the WFG implementation of LifeSpeed also includes an eSignature solution by which insurance consumers use a biometric signature pad to sign policy applications – thus providing a new, seamless experience for processing life insurance applications without the use of paper. The increased speed gained by electronic delivery and transaction checks made by the platform to insure applications are fully error-free prior to delivery to the carrier are viewed by implementation companies as a dramatic advantage over traditional paper-based processes. WFG, which has more than 15,000 licensed life insurance agents, plans subsequent rollouts of LifeSpeed to its distributor sales force in the future.

WFG focuses on providing financial services products to middle-income individuals and families to help them get on track to a more solid financial future. WFG has selling agreements with more than 25 separate insurance companies. WFG began exploring the provision of LifeSpeed to its distributor sales force as part of its efforts to advance sales and service through state-of-the-art automated life product transaction processing.

Western Reserve Life is the first insurance carrier to upload life products to the platform using the newly-developed Product Profile for Life protocol, a new industry standard which EbixExchange was instrumental in developing with other industry leaders. EbixExchange plans to continue to work with Western Reserve Life to expand product availability on LifeSpeed for term and universal life insurance products.

About EbixExchange
EbixExchange is the division of Ebix, Inc. that focuses on research, illustration, transaction processing, and compliance automation for the life insurance and annuity industry. Combining the expertise of pre-merger industry pioneers EbixLife and Finetre Corporation, EbixExchange is a leading developer of electronic Straight Through Processing and currently supports a broad range of insurance agencies, brokerage and clearing firms, and operations centers at over 60 of the leading insurance carriers and their affiliates. EbixExchange's parent company, Ebix, Inc., is a publicly-held corporation (NASDAQ: EBIX). For more information, please visit http://www.ebixexchange.com.

About Ebix, Inc.
Ebix, Inc. is a leading international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial services industries.

Ebix strives to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Ebix combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations.

With bases in Singapore, Australia, the US, New Zealand, India and Canada, Ebix employs insurance and technology professionals who provide products, support and consultancy to more than 3,000 customers on six continents. Ebix’s focus on quality has enabled it be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute's Capability Maturity Model Integration (CMMI). Ebix has also earned ISO 9001:2000 certification for both its development and call center units in India. For more information, visit http://www.ebix.com.

About World Financial Group
World Financial Group, Inc. (WFG) is a financial services marketing company whose affiliates offer life insurance and a broad array of financial products and services. Driven by its mission to create financially independent families positioned to realize their dreams, WFG's independent associates strive to help individuals and families who are often overlooked by the financial services industry to plan for their financial futures and work toward their goals. With agreements with several of the financial and insurance industries’ leading companies, World Financial Group advocates the power of choice for its clients. Securities are offered through World Group Securities, Inc. (WGS), Member FINRA/SIPC. Insurance products are offered through World Financial Group Insurance Agency, Inc. (WFGIA) or its subsidiaries. WFG, WGS, WFGIA are affiliated companies.

As AEGON companies, World Financial Group (WFG), World Group Securities (WGS) and World Financial Group Insurance Agency, Inc. (WFGIA) are part of one of the world's leading life insurance and pension organizations, and a provider of investment products.

For more information, visit www.worldfinancialgroup.com

About Western Reserve Life
For over 50 years, Western Reserve Life has been helping Americans achieve their dreams of financial security. A member of the Insurance Marketplace Standards Association and rated A+ by A.M. Best Company (2nd of 16, May 30, 2007) for financial strength and operating performance, Western Reserve Life currently has over $117 billion life insurance policies in force.

For more information, visit www.westernreserve.com

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