EbixCash acquires AssureEdge amid growing demand for insurance

Cross-border remittance and financial services player EbixCash has acquired 70% stake in AssureEdge Global Services, a Business Process Outsourcing (BPO) firm – eyeing sales synergies amid growing demand for insurance in India.

The company said in a statement that AssureEdge CEO and founder Bhupesh Tambe will continue to lead the firm with a 30% stake, without disclosing specifics.

The BPO, which currently has 1,800 employees, will be rebranded as EbixCash Global BPO Services, according to the statement.


“AssureEdge can serve to handle fulfilment, collections and last-mile delivery for EbixCash, as we converge it with our EbixCash financial and insurance technology platforms,” said Robin Raina, president and CEO, Ebix.

“We see AssureEdge serving our pre-sales and post-sales support for the BSE Ebix insurance platform, besides helping us provide an end-to-end fulfilment solution to banks on our lending, wealth management, asset management and credit card processing solutions for banks and financial institutions,” Raina, who is also chairman of the Ebix board, said.

AssureEdge serves about 34 large corporate businesses in the finance, telecom, entertainment and ecommerce sectors. The company plans to expand its employee base to 2,500 by the end of the fiscal year. Additionally, the newly acquired business is also Ebitda positive with a margin of 30%, Ebix said in the statement.