Ebix, Inc., an international supplier of on-demand software ande-commerce services to the insurance industry, has signed anagreement to acquire Rio de Janeiro-based Insurance Exchange - USIXTechnologies, Inc.

USIX Technologies is a provider of exchange solutions for theinsurance industry in Brazil, specializing in Internet interfacesolutions for insurance companies and their agents. USIX'sportfolio of exchange solutions includes; pricing, multi-quotingfor brokers, underwriting, contract binding, and broker-systemsolutions. The solutions are used in the auto, property, and life(individual and group life) sectors of the insurance industry inBrazil.

USIX is presently in the process of implementing an on-demandexchange based broker system solution for the thousands of brokersof Bradesco Seguros. The solution is targeted to be deployed across30,000 brokers of Bradesco.

In total, the Brazilian insurance industry comprises around 140companies, which range from small locally-owned companies to largemulti-national organizations. Currently the total insurance marketrevenue is over $57 billion.

This industry has been growing over the last five years at a12percent to 15 percent average yearly growth rate. The life andretirement annuities sector alone has grown at an average rate of25 percent per annum. This acquisition marks Ebix's entry into oneof the fastest growing property/casualty and life insuranceexchange markets in the world. Ebix already runs an annuityportability exchange in Brazil that is utilized by 40 differentlife insurance companies today.

Robin Raina, president & CEO of Ebix, Inc., says, "Brazil isone of the fastest growing insurance markets in the world today andwe are keen to position ourselves early in this market. USIX has asolution set that has become the engine of distribution of salesfor many large carriers today in Brazil. USIX has on-DemandExchange solutions that fit in tightly with our other solutions.They have a committed customer base with a strong growing revenuestream. In addition, they have solutions that can be deployed inother Latin American countries. All of that is clearly a greatcomplement to our existing business today in Brazil."