Online transaction platform Sunrise Exchange in now handling 5 million transactions a year, registering a 500,000 increase in the past 12 months.

Sunrise Exchange was bought last year by US-owned Ebix as part of its $50 million purchase of Telstra eBusiness Services. It connects insurers and brokers to process insurance policies online.

Ebix Australia Marketing Manager Neil van Helden says more than 10,000 online quotes are transacted daily.

“The transaction figures show the significance of the products in the industry,” he told insuranceNEWS.com.au.

“Sunrise Exchange provides a simple interface for brokers and insurers to do business, and it has become a staple part of the industry.”