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Sunrise Exchange reaches key milestones

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Ebix’s Sunrise Exchange trading platform surpassed six million transactions in the year to June 30, accounting for gross written premium of $2.07 billion.

Ebix Australia MD Leon d’Apice says the 6.1 million transactions represent a record year for the exchange, and annual transaction growth of 5% on the previous year.

Last month Sunrise Exchange also recorded its highest-ever trading day, with more than 20,000 accepted policies, compared to its average daily rate of around 14,000.

Mr d’Apice says more than 900 broking firms now use the exchange.

Recent developments at Sunrise Exchange include the addition of instalment billing options, with two insurers now offering the service.

In order to gear up for future growth, Mr d’Apice says the exchange has also undergone a “major infrastructure upgrade” in the past few months, with new network storage devices and a replacement of the core servers enabling it to operate faster and handle more capacity.

Sunrise Exchange, which was launched in July 2001, is also celebrating its 10th year of operation.