This excerpt taken from the EBIX 10-Q filed May 6, 2008.
Description of BusinessEbix provides a broad spectrum of Internet-based application service provider (ASP) and custom software development services to the insurance companies and to insurance agencies/brokers across six continents. Products include carrier systems, agency systems, and data exchanges and feature fully customizable and scalable software designed to improve the way insurance professionals manage all aspects of distribution, including: marketing, sales, service, accounting and management. The Company has its headquarters in Atlanta, Georgia and also has offices in five countries which include Australia, New Zealand, Singapore, UK and India, servicing customers across fifty countries.
This excerpt taken from the EBIX 8-K filed Dec 29, 2006.
DESCRIPTION OF BUSINESS
Finetre Corporation (Finetre) was incorporated under Indiana law in 1998. Finetre, together with its subsidiaries (the Company), is a software technology company, presently conducting its business solely within the United States. The Company has developed an Internet-based annuity sales and servicing platform (the AnnuityNet Platform) that connects annuity issuers, distributors and point-of-sale representatives. The AnnuityNet Platform includes compliance data collection, suitability, workflow routing and a full variety of variable and fixed annuity products containing virtually all product rules. This allows distributors to standardize on a single set of business methods and processes across multiple annuity issuers, and allows annuity issuers visibility across multiple distributors with a single interface. The Company operates the AnnuityNet Platform as an Application Service Provider (ASP). As an ASP, the Company manages all software, hardware and maintenance upgrades while providing its customers with faster deployment and continuous improvements.
In October 2006, the Company merged with a subsidiary of Ebix, Inc. Please see Note 4 for additional information regarding the sale.