New Delhi: Leading bourse BSE on Thursday said it has joined hands with Ebix Inc to set up a joint venture firm for building a robust insurance distribution network in India.
Ebix is a leading international supplier of on-demand software and e-commerce services to the insurance, financial, e-governance and healthcare industries. The new venture to be branded as BSE-Ebix intends to deploy an insurance distribution exchange platform which will allow distribution outlets, stock brokers, wealth management advisors and financial institutions among others to sell life and non-life products, BSE said.
The venture will utilise the distribution reach of both BSE and Ebix that spans more than 2 lakh outlets across the country. "We are pleased to team up with Ebix in this venture which has a potential of allowing consumers across the length and breadth of the country, easier and faster access to preserving their wealth through buying insurance and expeditious claims settlement," BSE MD & CEO Ashishkumar Chauhan said.