HSBC Insurance ties up with Ebix.com

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Mumbai, Nov 27: HSBC Insurance Services, the insurace intermediation arm of HSBC, has tied up with Ebix.com Inc, the world’s most comprehensive insurance portal operating as a virtual market place to provide insurance intermediary with a multilingual, multi-currency management system, to support Indian customer base.

HSBC Insurance Services (India) Pvt Ltd has purchased ebix.global software to manage its services and operations in India. ebix.global is customisable software that will allow HSBC to create a highly personalized information management system to service its Indian insurance customers.

Ebix.global works across 33 countries and is multi-lingual and multi-currency, an attractive feature for Indian insurance suppliers operating in a country with 49 languages and 544 different dialects.
“Their software will help us continue our tradition of offering first-class service and competitive insurance products”, said Mr Peter Valentine, chief executive officer of HSBC Insurance Services India.

HSBC Insurance Services (India) Pvt Ltd is a member of the HSBC Group and is the first insurance agency to be established by any foreign bank in India.

The company was licensed in June 2001 as a corporate agent of Tata AIG Insurance for both life and non-life business and offers a complete range of insurance services to personal, commercial, corporate and institutional customers of HSBC Bank.

HSBC’s banking business in India is growing rapidly and the insurance business will be looking to leverage the banking relationships by providing international standards of insurance products and service at a competitive price.

Insurance selling through ebix.come can save insurance professionals up to 70 per cent in time, energy and costs associated with processing day-to-day transactions.