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On-Demand Insurance Solutions


INVESTOR PRESENTATION Maxim Group Growth Conference – March 26, 2012

5 Concourse Parkway

Suite 3200

Atlanta, GA 30328

Phone (678) 281 2020

Fax (678) 281 2019 w w w . E B I X . c o m

Steven N. Barlow, VP – Investor Relations

Direct: 678 281 2043 | Cell: 404 395 2908

[email protected]


Disclaimer

This Investor Presentation has been prepared by Ebix, Inc. (“Ebix”) for investors, solely for informational purposes.

The information contained herein has been prepared to assist prospective investors in making their own evaluation of the Company and

does not purport to be all-inclusive or to contain all of the information a prospective or existing investor may desire. In all cases, interested

parties should conduct their own investigation and analysis of the Company and the data set forth in this information. Ebix makes no

representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations

(expressed or implied) regarding information contained in, or for any omissions from, this information or any other written or oral

communications transmitted to the recipient in the course of its evaluation of the Company.

This Information includes certain statements and estimates provided by the Company with respect to the projected future performance of

the Company. Such statements, estimates and projections reflect various assumptions by management concerning possible anticipated

results, which assumptions may or may not be correct. No representations are made as to the accuracy of such statements, estimates or

projections. Prospective investors will be expected to have conducted their own due diligence investigation regarding these and all other

matters pertinent to investment in the Company.

This presentation may contain statements that are not historical facts, referred to as “forward looking statements.” The corporation’s actual

future results may differ materially from those suggested by such statements, depending on various factors including those described in

filings made with the SEC.

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On-Demand Insurance Solutions 3

Ebix Introduction

Ebix, Inc. (the “Company”) was founded in 1976 as Delphi Systems, Inc., a California corporation. In December 2003 the Company changed its name to

Ebix, Inc. The Company is listed on the NASDAQ Global Market & is a part of the Russell 2000 Index, Standard & Poor's Small Cap 600 GICS Application

Software Sub-Industry Index and Dow Jones Internet Services Index and Dow Jones Internet Composite Index.

Ebix, Inc. is a leading provider of On-Demand software and e-commerce solutions to the insurance industry. Ebix provides end to end solutions ranging

from infrastructure exchanges, carrier systems, agency systems and Business Process Outsourcing services to custom software development for all entities

involved in the insurance industry and financial industries. Ebix powers multiple exchanges across the world in the field of life, annuity, health and property

& casualty insurance, while conducting in excess of $100 billion in insurance premiums on its platforms.

Ebix’s goal is to be the leading backend powerhouse of insurance transactions in the world. The Company’s technology vision is to focus on convergence

of all insurance channels, processes and entities in a manner such that data can seamlessly flow once a data entry has been made.

With a recurring revenue base in excess of 80% , Ebix strives to work collaboratively with clients to develop innovative technology strategies and solutions

that address specific business challenges. Ebix combines the newest technologies with its capabilities in consulting, systems design and integration, IT and

business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations.

The Company has its headquarters in Atlanta, Georgia, and has domestic operations in San Diego, Los Angeles, Walnut Creek, Hemet, Pittsburgh, Park

City, Salt Lake City, Herndon, Miami, Lynchburg, Columbus, Portland, New York and Dallas. The Company also has offices in eight other countries namely

Australia, Brazil, New Zealand, Singapore, Canada, China, Japan and India. Through its various SaaS based software platforms, Ebix employs 1,426 insurance

& technology professionals providing products, support and consultancy to thousands of customers on six continents across 50+ countries.

Ebix’s focus on quality has enabled its development unit in India to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute’s

Capability Maturity Model Integrated (CMMI). Ebix has also earned ISO 9001:2000 certification for both its development and call center units in India. Its

vast customer base includes hundreds of carriers and hundreds of thousands of brokers, and in addition to a few hundred corporate clients. This includes

an impressive blue-chip account base consisting of the nation’s largest and most respected insurance companies as well as a large community of insurance

professionals.

The Company has received numerous awards and recognition from its industry, the media, and by customers including being ranked thrice in the top 5

fastest growing companies in the world. Ebix was ranked 4th Fastest Growing Technology Company in 2011 by FORTUNE. In the year 2010

FORTUNE ranked Ebix the 3rd Best Investment and the 3rd Fastest Growing Company. FORTUNE also ranked Ebix in 2009 the 2nd

Best Investment and the 4th Fastest Growing Company.

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Unique Differentiation Enhances Ebix’s Leadership Opportunity

Ebix’s exchanges power transactions between hundreds of thousands of brokers and insurance companies. Ebix’s Life exchange processes

close to 15 million life sales illustrations every year. Ebix’s annuity exchange powers in excess of $40 billion in premiums annually in the

United States. Ebix Exchange in Australia powers the majority of the electronic property & casualty insurance transactions. Ebix’s On-

Demand CRM solution is used by 100,000 plus users in the United States alone. With the aggregation of a large community of insurance

companies and brokers on its exchanges, Ebix is seen as a vehicle to insurance markets by these entities. Companies not using Ebix

exchanges risk losing access to the aggregated markets that Ebix could offer them access to.

Ebix has a global reach and insurance domain knowledge. Ebix powers businesses in more than 50 countries today across six continents.

Ebix has a global footprint with in excess of 30+ offices today world-wide.

Ebix provides a multi-national broker or carrier a common code base world-wide, unlike any other software player in the insurance

industry that addresses these markets. Ebix systems are multi-lingual, multi-currency and work in French, Portuguese, Spanish, Japanese,

Chinese and English.

With fully owned offshore facilities in India, Ebix has the ability to reduce the cost structure of acquired companies and increase their

efficiency. Ebix’s centers in India have Carnegie Mellon’s highest CMMI 5 rating and that establishes the quality of Ebix’s operations to any of

its prospective customers.

Experienced Executive Management Team with Domain Expertise and Industry Recognition. Ebix’s team includes subject matter and

domain experts with a deep understanding of the insurance industry spanning a thousands of years of experience amongst them. Its

infrastructure and experienced executive management team is highly capable of sustaining its leadership and developing Ebix into an even

larger organization.

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Summary Highlights

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The company’s technology vision is to focus on convergence of all insurance channels, processes and entities in a manner that data can

seamlessly flow once a data entry has been made. The company intends to do that by designing products and services that are

pioneering and at least a few years ahead of its competition. The company believes that profitability and revenue growth must go hand in

hand.

With no competitors who can match the completeness of its vision or its distinct advantages, Ebix is ideally positioned to seize an

enormous “green field” opportunity. Continually cited for the high quality of its offering, Ebix has built an outstanding reputation among a

large, impressive customer base. With a strong recurring, Software as a Service model, Ebix is positioned to be a leading player in the

Global insurance software industry.

Ebix Mission

Ebix’s goal is to be the largest insurance software services player in the world.

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INSURANCE MARKETPLACE CONVERGENCE


What would EBIX rather be?

DELTA or Hartsfield-Jackson Atlanta International Airport?

OR

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Competitive Advantages

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•Deep domain Insurance industry expertise

•De facto industry standards creator

•First-mover status, created barriers to entry

•Worldwide Blue-chip clients

•Infrastructure play

•Aggregation of tens of thousands of distribution entities

•Comprehensive set of insurance solutions from the front office to the back office

•Network Effect

•Strong focus on innovation and R&D, high quality, low cost, CMMI Level 5 Certified development units

in India.


Industry & Market Overview – EBIX’s footprint addresses the most strategic needs in the insurance industry

Property & Casualty (P&C)

Business Process Outsourcing

Risk Management

Life and Annuity

Software Development Services

• Custom Product Development

• Strategic Consulting

• Business Process Management

• Systems Integration

• IT Outsourcing

Health and Employee Benefits

• Managers, Claims Administrators, TPAs, Healthcare, Carriers and Safety Professionals • Worker’s Compensation Injury Reporting Service • Claims Management and Compliance • Incident and Loss Notice Reporting • Managed Care Tracking • Loss and Risk Analysis

• Enterprise Solutions for Carriers, Brokers, Agents, MGA’s, TPA’s • Back-office Administration Systems • Broker/Agency Management • CRM • Research, Quoting, Underwriting • Policy Production • Accounting • Claims Processing • Insurance Certificate Creation/Management

• CRM • Sales Automation • Enrollment • Eligibility • Online Quoting • Benefit Portals • Content Management • Claims Handling • Claims Accounting • Claims Adjudication • COBRA, HSA, FSA Administration • Interactive Educational Resources • Health Content and Health Information

Exchange

• Enterprise CRM Solutions • Agency Management • Research, Quote and Illustrate • eApp Exchange • eSignature • Policy Delivery • Post Issue Policy Servicing

• Insurance Certificate Creation & Issuance

• Certificate Tracking • Back-office & Compliance • Claims Validation • Claims Processing • Health - Enrollment Services • Health – Claims Adjudication

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Market Position - Ebix Exchange

•Seamless end-to-end On Demand Insurance Solutions to enable convergence of life, annuity, health, property &

casualty insurance entities conducting in excess of $100 billion in insurance premiums annually

•Utilities based revenue structure

•Largest insurance exchanges in the world

•First end-to-end health & benefits network in the US providing a complete range of functionality for all industry

constituents - Carriers, Agents, General Agents, Employers, Employees et al.

•Transacts 95% of P&C Insurance e-commerce business in Australia

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Reduces time from the first client contact

to policy issuance

Global application

Audit tracking

Compliance & regulation

Labor savings

Multiple data entry points are reduced

to one

Time savings

Accuracy

Ebix Exchange

An insurance exchange is an e-commerce B2B

marketplace which connects insurance carriers,

brokers and related third parties to a single

common network seamlessly from end to end.

Value proposition

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SaaS - Straight Through Processing

Every time data is exchanged - Ebix generates revenue

Broker

Financial Advisor

Dozens of

Carriers

EBIX EXCHANGE

Quotes Generated

TERMS AGREED

with 1 carrier

Compliance

billing/money settlement

1 1

3

2

4

Front-end

System

e-application

e-signatures

$ Transaction

Back-end Systems $ Transaction

$ Subscription $ Subscription

$ Transaction

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Channel Diversity

The Insurance Exchange Channel

Multiple exchanges across the world in the fields of life, annuity, health, property & casualty insurance conducting in excess of $100

billion in insurance premiums

EbixExchange Revenue Split in 2011

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31% 22% 19% 16% 9% 3%

Health Benefits P&C Customer Relationship Management Annuities Life Insurance Workers Compenstation & Risk Management


Can be integrated into Ebix Exchanges

Global clients, mostly in US &

Europe

Subscription revenue &

professional fees from

customized development

Highly configurable for the world’s top super brokers

Used by brokers in over

50 countries

Multi-currency, multi-language

Market Position - P&C Channel

SaaS based end-to-end back-end system sold

across the world to large insurance carriers &

brokers to automate their entire business

including policy processing, claims, sales

management, general ledger etc.

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Market Position - BPO (Business Process Optimization)

Single largest global provider. Over 1000 clients in 26 different industry verticals. More than 80 Fortune 500 companies

Value Proposition

Client Benefits

Pricing

• Deliver insurance certificates faster and more accurately than in - house systems which are mostly paper based.

• Create standard business process to ensure consistent, timely and accurate certificate generation and tracking

for management.

• Compliance

• Litigation mitigation

• Renewal tracking

• Subscription and Transaction based

• Accuracy

• Time savings

• Labor savings (regular and overtime)


Summary Highlights

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Operating Cash Flow

~ Operating Income

80% + Recurring Revenues

First mover advantage

in our markets

Sustainable 40 %

Operating Margins

Strong Balance Sheet

Strong free Cash Flow Generation

Directors, Executive officers

own 13.2% of the

company

Large untapped market

potential


Summary Highlights

2007 2008 2009 2010 2011

Revenues (in million $) 42.8

74.7

+ 75 %

97.7

+ 31 %

132.2

+ 35 %

169.0

+ 28 %

Net Income (in million $) 12.7

27.3

+115 %

38.8

+ 42 %

59.0

+ 52 %

71.4

+ 21 %

Diluted EPS (in $) 0.40

0.76

+ 90 %

1.03

+ 14 %

1.51

+ 47 %

1.75

+ 16 %

Operating Margins 30% 37% 40% 40% 41%

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Revenue Breakdown 2011

17

77% 11% 9% 3%

Exchanges

Brokers

BPO

Carrier/Insurer

65% 18% 17%

Subscription

Transaction

Professional Services

71% 29%

Americas

International


The Last Dozen Years

• In 1999 Ebix had $19.0 million in Net Losses.

• In 2011 Ebix had $71.4 million of Net Income.

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($20)

($10)

$0

$10

$20

$30

$40

$50

$60

$70

$80

($19) ($11)

$0.10 $0.50 $1.70 $2.60 $4.30 $6.00

$12.70

$27.31

$38.80

$59.00

$71.37

1999 2000

2001 2002

2003 2004

2005 2006

2007 2008

2009 2010 2011


20062007

20082009

20102011

$29.25 $42.84

$74.75

$97.72

$132.20

$168.96

$6.00 $12.70

$27.30 $38.80

$59.00 $71.37

$0.21 $0.40

$0.76 $1.03

$1.51 $1.75

Sales (in millions) Net Income (in millions) Diluted EPS

*Diluted earnings per share reflects two 3-for-1 stock splits, namely the 3-for-1 stock split effective October 9, 2008 and the 3-for-1 stock split effective January 5, 2010

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Consistent Growth and Profitability


Operating Income and Operating Cash Flow

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20062007

20082009

20102011

$6,712 $12,801

$29,264

$39,256

$52,507

$68,748

$4,375

$15,039

$26,825

$33,877

$52,779

$71,286 Operating Income (in thousands) Operating cash flows (in thousands)


Recurring Income Streams with Consistent Growth in Margins

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Q3-10Q4-10

Q1-11Q2-11

Q3-11Q4-11

$16.7

$15.9

$15.2

$22.3

$16.5 $17.3

39% 39%

39%

44%

42%

38%

Net Income (in Millions) Operating Margins


Free Cash Flow

2008 2009 2010 2011

Operating Cash Flow

$26,825

$33,877

$52,779

$71,286

Capital spending 615 3,129 1,754 2,829

Free Cash Flow

$26,210 $30,748 $51.025 $68,457

Uses of cash

Acquisitions $72,541 $44,035 $18,151 14,797

Stock repurchases 24,426 505 10,650 63,659

Repayment of debt (44,459) (383) 26,144 (15,971)

(in thousands)

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Healthy Balance Sheet with Improving Metrics & Liquidity

Balance Sheet Metrics

2008 2009 2010 2011

Net Debt (in thousands) $31,639 $32,072 $5,878 $21,849

Current Ratio 0.47 0.62

1.56

1.28

Cash Balance (in thousands) $9,475 $19,227 $23,397 $25,201

Working Capital (in thousands) $(28,330) $(28,582) $21,697 $14,038

Debt/TTM EBITDA 1.53 0.96 0.52 0.62

Debt to equity ratio 0.75 0.31 0.15 0.15

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Global Footprint – 32 + offices across the Globe

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