Fiduciary Exchange LLC (FIDx) is building a well-established annuity marketplace system into its new insurance exchange program.
FIDx announced earlier this week that it has integrated the Ebix product marketplace into its own insurance exchange system.
(Related: FIDx Opens Annuity Supermarket)
FIDx is a Berwyn, Pennsylvania-based organization that opened the Ix insurance exchange program in June. The exchange has started by giving advisors access to annuities from many different life insurers.
Ebix is a Johns Creek, Georgia-based company that provides technology services for companies in the insurance industry and other industries. One arm of Ebix, AnnuityNet, has been running an order-entry system for annuity transactions since 1998.
Rich Romano, the chief technology officer at FIDx, said in a statement about the new FIDx-Ebix alliance that FIDx will bring Ebix annuity marketplace technology to the FIDx platform.
FIDx plans to continue to expand its offerings and integrate with top insurance platforms, Romano said.
FIDx said the Ix program now puts annuity sales on par with sales of mutual funds, exchange-traded funds, and separately managed accounts.
— Read AnnuityNet Changes Name, Hopes To Expand Scope, on ThinkAdvisor.