Ebix, a supplier of on-demand software and E-commerce services to the insurance industry, has acquired Brazilian firm MCN Technology & Consulting (MCN), to strengthen its relationship base in the Latin American insurance markets.
MCN has a portfolio of products and services for insurance companies, financial institutions and insurance brokers. It provides IT products and services, exchanges for pension and annuities, besides enterprise integration products, eBusiness transactional portals and consulting, implementation and support services to the insurance industry in Latin America.
Robin Raina, chairman, president and CEO of Ebix, said: “The acquisition of MCN provides us with a solid relationship base in the Latin American insurance markets. We see this as an entry point for Ebix to cross-sell its exchanges and back-end systems in Latin America. Brazil was a natural choice as our Latin American headquarters since it accounts for 40% of the region’s insurance revenues.
“MCN has strong relationships with leading Life insurance and P&C companies in Latin America and we intend to develop those relationships further. We are pleased to inherit a strong team of 45+ employees with expansive insurance domain knowledge specific to Latin America.”
Ebix provides offerings from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry. It provides multiple exchanges in the field of life, annuity, health and property and casualty insurance.