A major manufacturing firm
A claim filed during the 3rd year of the Ebix services for $15 Million
Fire at one of the production facilities.
Ebix had been consistently tracking compliance for all the insureds at the firm and working towards the optimum compliance rate for three years. When the claim was filed, the client was able to extract the complaint COIs for all of the parties responsible for the loss. The client then effectively mitigated and managed the claim in the court of law.
Impressed with the benefits of the Ebix RCS service, the CFO of the manufacturing firm made it mandatory that all 3rd party vendors/suppliers doing business with the firm have to get their COIs reviewed and processed by Ebix. Now no payments are made to any vendor until their COIs are reviewed and approved by the Ebix system.
In year three, the firm’s ROI is impressive. These positive numbers could have been negative instead—without the Ebix tracking service and the compliant COIs.