Aspida Life Insurance Company, a life insurance and annuity company, is leveraging Ebix’s AnnuityNet platform to boost distribution within the banking channel as well as its Consulting Division for complete project delivery and DTCC workflow.

Ebix is a supplier of on-demand software and e-commerce services to the insurance, financial, healthcare, and e-learning industries.

AnnuityNet4 (AN4) is EbixExchange’s order-entry solution intended to boost advisor experience through improved efficiency and reduction in compliance risk.

The Ebix’s Consulting Division provides a range of services, including market entry advisory, platform roadmaps, product setup, testing, integration, and ongoing support services.

Ebix Insurance Solutions North America president Ash Sawhney said: “We are pleased that Aspida has chosen to partner with Ebix.

“Aspida is a tech-forward, agile insurance provider that actively works to deliver a seamless and efficient experience for advisors, who guide clients through every stage of the wealth management process with a personalized approach and differentiated resources.

“We’re here to make that easier by simplifying the complex demands of annuity distribution.”

AN4 completely automates the annuity transaction. These consist of automated calculation of suitability scores and transaction routing via compliance workflows.

With this technology, insurance firms can tap new markets for annuity sales by seamlessly linking wealth management advisors to a wide range of annuity products, claimed Ebix.

This platform offers a simplified, end-to-end annuity sales experience.

The complete suite of transformation and integration services offered by Ebix Consulting enables clients to achieve the fastest time to market for their business-critical projects.

Ebix, which was set up in 1997, currently has more than fifty-five carriers and more than 100 distributors on its Annuity Exchange.

Together, this network is claimed to have around 70% of annuities submitted electronically in the industry.