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Revenue rise for Ebix

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Insurance software company Ebix’s revenue has grown 14% to $US147.2 million ($215.89 million), despite a 20% drop in revenue from its Risk Compliance Solutions (RCS) channel.

Ebix in Australia is the insurance industry’s major source of transaction platforms such as Sunrise Exchange, Smart Office Pro, iClose and a suite of broker systems.

The Atlanta, Georgia-based company says its RCS channel dropped to $US17.76 million ($26.05 million) in the third quarter, compared to the same period last year. Total revenues were $US128.6 million ($188.61 million) compared to the previous corresponding period.

Revenue from the insurance exchanges channel increased 6% to $US51.19 million ($75.08 million).

Insurance operations President for North America Ash Sawhney says the company’s insurance business pipeline in the US is the strongest it has ever been.