Liberty Bankers Life Insurance Company Uses Ebix’s Annuity Exchange Platform

The insurer has signed a contract to offer annuity products on Ebix’s AN4 Exchange platform.

(Image source: Liberty Bankers Life Insurance Company homepage.)

Liberty Bankers Life Insurance Company (Brownwood, Texas) has signed a contract with Ebix, an international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, to offer annuity products on Ebix’s (John’s Creek, Ga.) AnnuityNet4 (AN4) Exchange platform.

Ebix describes AN4 as an industry-leading and highly configurable Annuity exchange platform that supports Variable, Fixed, Index and Income annuity Sales, as well as in-force policy maintenance for withdrawals, fund transfers, and policy updates. AN4 supports Ebix carrier products for easy and convenient access by Bank, Broker Dealer and Agency distribution clients, according to the vendor.

“We are pleased that Liberty Bankers chose the EBIX platform for Annuity Processing after looking at various solutions in the market,” comments Ash Sawhney, President, Insurance Solutions North America, Ebix. “AN4 is today the most widely used Annuity exchange in the United States. We continue to see good momentum on our Annuity Exchange since we released the new AN4 platform. This is the fifth new carrier on the platform that we have announced this year.”

Liberty Bankers Life Insurance Company (LBL) is owned by Liberty Life Group Trust, a Texas Holding company. Through LBL and its two wholly owned subsidiaries, Capitol Life (CLIC) and American Benefit Life (ABL), the organization offers a full line of life insurance and annuity products which help individuals and businesses meet their financial goals.

LBL offers immediate and deferred annuities with a range of features to satisfy a variety of financial requirements. The organization’s life insurance products include final expense, term and permanent designs with the latest features such as critical illness coverage and an innovative approach to return of premium. LBL also offers health insurance products that are designed to augment clients’ health care coverage, such as Medicare Supplement, Critical Illness and Accident products.

“With each carrier addition, Ebix generates multiple streams of revenue, including license fees, professional services, and recurring transactional fees,” Ash adds.  “It also opens up new streams of revenue from distributors that are part of the carrier network as well as opportunities for consulting and platform-based process outsourcing.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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