Zinnia, a life and annuity insurance technology services company, has agreed to acquire the L&A assets of software company Ebix

This move is expected to position Zinnia as a leading technology partner in the L&A industry, enhancing its portfolio with a range of insurance-focused tools and platforms. 

Zinnia said the deal will expand its offerings including customer relationship management (CRM) and agency management, research, quoting, illustration and order entry tools, alongside a comprehensive underwriting platform.  

These additions aim to streamline the experience for advisors and their clients, simplifying the insurance process from product development to distribution and claims. 

The deal, which secured court approval on 15 February 2024, is anticipated to complete in early March upon the fulfilment of customary closing conditions. 

The acquisition will see the integration of Ebix’s AnnuityNet, LifeSpeed, SmartOffice, TPP (The Policy Processor), Vital Sales Suite, Winflex, and various consulting services into Zinnia’s existing offerings.  

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Ash Sawhney, president of Ebix Insurance Solutions North America, will lead the new life and annuity exchange solutions business within Zinnia, reporting to Zinnia CEO Michele Trogni.  

He will be joined by the senior leadership team of Ebix life and annuity and all global L&A employees. 

Trogni said: “The acquisition of the Ebix Life and Annuity Assets is transformative for Zinnia. The complementary nature of our solutions will enable us to better serve carriers, distributors and consumers, expanding our reach as we build the modern rails of the insurance industry.” 

Sawhney said: “Zinnia’s commitment to invest in our products, people and customer solutions will significantly advance our product road maps, which will only serve to benefit the entire industry. Zinnia has a clear vision for the future, and together, we will digitise the end-to-end processing of life and annuity products.” 

This acquisition follows Zinnia’s deal in April 2023 to purchase the digital insurance marketplace Policygenius, which is known for simplifying the insurance buying process and leveraging data analytics to serve a wide range of insurance clients.