• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Ebix Becomes the Only Insurance Software Services Company Worldwide to Receive Carnegie Mellon's Highest CMMI Level 5 Certification

Posted on: Wednesday, 14 December 2005, 09:00 CST

Ebix, Inc. (NASDAQ: EBIX), a leading international developer and supplier of software and e-commerce solutions to the insurance industry, today announced that it has achieved the coveted SEI- CMMI Level 5 certification, the highest level of the Capability Maturity Model Integrated (CMMI) of the Software Engineering Institute (SEI) at Carnegie Mellon University. Ebix is the only global insurance software services player in the world to have this unique certification.

CMMI Level 5 is the highest certification of software engineering excellence that can be achieved. CMMI levels are increasingly used by IT groups of companies to evaluate the potential for their software services suppliers to produce quality products on time and within budget.

"Achieving Level 5 acknowledges Ebix's ability to offer the highest possible value to customers by providing better requirement specification, more powerful design evaluation, and enhanced quantitative project management techniques," Ebix President and Chief Executive Officer Robin Raina, stated. "As the framework assesses an organization's ability to develop solutions tailored to the business end-user, the Level 5 certification attests to Ebix's deep capabilities in architecting end-to-end, process-driven business solutions for our clients."

Mr. Raina added, "We are proud of achieving the CMMI Level 5 certification, and being the first global insurance software services player to get there. It demonstrates the passion that every Ebix employee has in adopting the latest techniques and frameworks to offer our valued customers the highest standards of quality, reliability and timeliness. As a result, customer projects are safer in our hands."

The CMMI framework goes a step beyond CMM and is a set of frameworks that integrate the existing CMM frameworks together to enable further process improvement. Using the CMMI framework, organizations benefit from improved internal business processes that increase quality, productivity and decrease cycle times, while stimulating learning and growth.

Ebix has also previously earned the ISO 9001:2000 certification for its quality practices in 2003.

About Carnegie Mellon University's CMMI Ratings

The Software Engineering Institute is a federally funded research and development center sponsored by the U.S. Department of Defense and operated by Carnegie Mellon University, which developed the CMMI maturity ratings. The assessments enable customers to determine reliable, low-risk suppliers of products and solutions. SEI ratings are earned through a detailed evaluation process that includes an extensive review and analysis of engineering and software development processes, documentation, measurement systems and quality assurance tools that are used by a company or organization. Additional information about the SEI's Capability Maturity Model Integration is available at http://www.sei.cmu.edu

The Software Engineering Institute (SEI) appraisal, known as the Capability Maturity Model Integration (CMMI), is an industry-recognized standard for benchmarking process integration and improvement in software engineering practices. The certification process is recognized as a best practice in the software industry worldwide. Achieving a CMMI Level 5 appraisal provides insight into a company's ability to execute on proposed projects, thereby reducing risk and required oversight by the customer.

About Ebix

A CMMI 5 Company, Ebix, Inc. is a leading international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial industries.

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.

With bases in Singapore, Australia, the US, New Zealand, India and Canada, Ebix employs insurance and technology professionals who provide products, support and consultancy to more than 3,000 customers on six continents. Ebix's focus on quality has enabled it 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. For more information, visit the Company's Web site at www.ebix.com.

Safe Harbor for Forward-Looking Statements under the Private Securities Litigation Reform Act of 1995 -- This press release contains various forward-looking statements and information that are based on management's beliefs, as well as assumptions made by, and information currently available to management, including statements regarding future economic performance and financial condition, liquidity and capital resources, acceptance of the Company's products by the market and management's plans and objectives. The Company has tried to identify such forward looking statements by use of words such as "expects,""intends,""anticipates,""plans,""believes,""will,""should," and similar expressions, but these words are not the exclusive means of identifying such statements. Such statements are subject to various risks, uncertainties and other factors which could cause actual results to vary materially from those expressed in, or implied by, the forward looking statements. Such risks, uncertainties and other factors include the extent to which the Company's new products and services can be successfully developed and marketed, the integration and other risks associated with recent and future acquisitions, the willingness of independent insurance agencies to outsource their computer and other processing needs to third parties, the Company's ability to continue to develop new products to effectively address market needs in an industry characterized by rapid technological change, the Company's dependence on the insurance industry (and in particular independent agents), the highly competitive and rapidly changing automation systems market, the Company's ability to effectively protect its applications software and other proprietary information, the Company's ability to attract and retain quality management, and software, technical sales and other personnel, the potential negative impact on the Company's outsourcing business in India from adverse publicity and possible governmental regulation, the risks of disruption of the Company's Internet connections or internal service problems, the possibly adverse effects of a substantial increase in volume of traffic on the Company's website, mainframe and other servers, possible security breaches on the Company's website and the possible effects of insurance regulation on the Company's business. Certain of these, as well as other, risks, uncertainties and other factors, are described in more detail in Ebix's periodic filings with the Securities and Exchange Commission, including the company's annual report on form 10-K for the year ended December 31, 2004, included under "Item 1. Business--Risk Factors." Except as expressly required by the federal securities laws, the Company undertakes no obligation to update any such factors or to publicly update any of the forward-looking statements contained herein to reflect future events or developments or changed circumstances or for any other reason.

Source: Business Wire

More News in this Category