Document:

<PAGE>

                                                                    EXHIBIT 10.7

                            RECOURSE PROMISSORY NOTE

$800,000.00                                                       April 11, 2001

         FOR VALUE RECEIVED, Scott C. Verges, who resides at Berkeley,
California (hereinafter referred to as "Borrower"), hereby promises to pay to
the order of Burnham Pacific Properties, Inc., a Maryland corporation with its
principal place of business in San Diego, California (hereinafter referred to as
the "Company"), the principal amount of Eight Hundred Thousand Dollars
($800,000.00) subject to the terms and conditions set forth herein.

         1.       PURPOSE AND AUTHORITY. This Promissory Note (the "Note") is
entered into pursuant to the terms of that certain Executive Retention Agreement
entered into between the Company and Borrower as of April 11, 2001 (the
"Retention Agreement") in order to encourage Borrower to continue his employment
with the Company and to exert his best efforts toward the completion of the
liquidation of the Company. Capitalized terms used but not defined herein shall
have the meanings given to them in the Retention Agreement.

         2.       PAYMENT.

                  (a)      The entire principal balance and other charges as may
         be due hereunder shall be due and payable within five (5) days
         following the Borrower's termination of employment with the Company and
         its subsidiaries if such employment terminates prior to the Termination
         Date pursuant to a Voluntary Termination (the "Maturity Date")

                  (b)      Notwithstanding the foregoing, the full amount of
         this Note will be automatically forgiven (i) upon the Termination Date
         if Borrower remains in employment with the Company and its subsidiaries
         until the Termination Date or (ii) upon Borrower's termination of
         employment with the Company and its subsidiaries if the Borrower's
         employment is terminated prior to the Termination Date pursuant to an
         Involuntary Termination.

         3.       INTEREST. The Note will bear no interest, subject to Section 5
below.

         4.       PREPAYMENT. Borrower may prepay the whole or any part of the
principal amount of this Note from time to time without premium or penalty.

         5.       DEFAULT. The failure by Borrower to pay the entire outstanding
balance of this Note on or before the Maturity Date shall constitute a default
under this Note (a "Default"). Upon the occurrence of a Default interest will
accrue on the unpaid principal balance at the rate of one and one-half percent
(1 1/2 %) per month compounded monthly. Following a Default the outstanding
balance hereof and all accrued and unpaid interest, together with all reasonable
costs of collection and/or enforcement of the Note, including reasonable
attorney's fees, shall at the option of the Company become immediately due and
payable.

<PAGE>

         6.       RECOURSE. The Company and Borrower agree that Borrower shall
have personal liability for the Note.

         7.       MODIFICATION. Neither this Note nor any provision hereof may
be modified, altered, or amended in any manner or form except by an agreement in
writing, executed by a duly authorized officer of the Company and Borrower,
which writing shall make specific reference hereto.

         8.       SEVERABILITY. If for any reason any provision or provisions
hereof are determined to be invalid, unenforceable or contrary to any existing
or future law, such invalidity or unenforceability shall not impair the
operation or affect those portions of this Note which are valid.

         9.       USURY, ETC. All agreements between Borrower and the Company
are hereby expressly limited so that in no contingency or event whatsoever,
whether by reason of Maturity of the indebtedness or otherwise, shall the amount
paid or agreed to be paid to the holder for the use, forbearance or detention of
the indebtedness evidenced hereby exceed the maximum amount which the holder is
permitted to receive under applicable law. If, from any circumstances
whatsoever, fulfillment of any provision of this Note, at the time performance
of such provision shall be due, shall involve payments exceeding such amount,
then the obligation to be fulfilled shall automatically be reduced to the limit
of such maximum amount, and if from any circumstances the holder should ever
receive as interest an amount which would exceed such maximum amount, such
amount which would be excessive interest shall be applied to the reduction of
the principal balance evidenced hereby and not to the payment of interest. As
used herein, the term "applicable law" shall mean the law in effect as of the
date hereof; PROVIDED, HOWEVER, that in the event that there is a change in the
law which results in a higher permissible rate of interest, then this Note shall
be governed by such new law as of its effective date. This provision shall
control every other provision of this Note.

         10.      GOVERNING LAW. The execution, delivery and performance of this
Note shall be governed by, construed, and enforced in accordance with the laws
of the State of California.

         11.      WAIVERS. The failure of the Company at any time to exercise
any option or right hereunder shall not constitute a waiver of the Company's
right to exercise such option or right at any other time.

         IN WITNESS WHEREOF, this Note has been executed and delivered as a
sealed instrument as of the date first set forth above.

                                                  /s/ Scott C. Verges
                                                  -------------------------
                                                  Scott C. Verges

Executed, sealed and delivered in the presence of:

/s/ Penny Evans
-------------------
Name of Witness:

                                       2<PAGE>
                                                                    EXHIBIT 10.1

          ----------------------------------------------------------------------

                     SHARE EXCHANGE AND PURCHASE AGREEMENT
                                 BY AND BETWEEN
                          BRIT INSURANCE HOLDINGS PLC
                                      AND
                                 EBIX.COM, INC.

          ----------------------------------------------------------------------

                                 MARCH 30, 2001

                                     B-1-1
<PAGE>

    THIS AGREEMENT dated as of the 30th day of March, 2001, is made and entered
into by and between BRiT Insurance Holdings plc, a company organized under the
laws of England and Wales with registered number 03121594, whose registered
office is at 55 Bishopsgate, London EC2N 3AS, United Kingdom ("BRiT"), and
ebix.com, Inc., a company incorporated in Delaware and having its principal
office at 1900 East Golf Road, Schaumburg, Illinois, United States ("ebix").
Capitalized terms not otherwise defined herein have the meanings ascribed to
them in Section 1.1.

                                    RECITALS

        (A) BRiT wishes to acquire a certain number of shares of common stock,
    par value $.10 per share (the "SHARES"), of ebix;

        (B) ebix wishes to acquire a certain number of shares of common stock,
    par value $.01 per share (the "IBS SHARES"), of Insurance Broadcast
    Systems, Inc. ("IBS"); and

        (C) BRiT and ebix have mutually agreed that BRiT shall purchase and ebix
    shall issue and sell to BRiT, up to 6,944,000 Shares in consideration for
    which BRiT shall pay a cash sum of up to US$ 7,000,000 and shall transfer to
    ebix such number of IBS Shares as is determined in accordance with
    Section 2.3 hereof, such transactions to occur in two tranches as set forth
    below.

    NOW THEREFORE, in consideration of the mutual covenants and agreements set
forth in this Agreement, and for other good and valuable consideration, the
receipt of which and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

1.  DEFINITIONS

1.1   In this Agreement the following words and expressions shall have the
     following meanings unless the context requires otherwise:

    (a) "AFFILIATE" means any person that directly or indirectly, through one or
       more intermediaries, controls or is controlled by or is under common
       control with the person specified;

    (b) "AGREEMENT" means this Share Exchange and Purchase Agreement;

    (c) "APPROVAL TRANSACTIONS" has the meaning set forth in Section 6.5;

    (d) "AUDITED FINANCIAL STATEMENTS" has the meaning set forth in
       Section 4.8;

    (e) "BALANCE SHEET DATE" has the meaning set forth in Section 4.8;

    (f) "BRiT" has the meaning set forth in the Recitals;

    (g) "BRIT WARRANTIES" means the representations and warranties under
       Article 5 of this Agreement;

    (h) "BUSINESS DAY" means each day other than a Saturday or Sunday on which
       banks are generally open for business in London, England and New York
       City;

    (i) "CLAIM NOTICE" means written notification pursuant to Section 9.02(a) of
       a Third Party Claim as to which indemnity under Section 9.01 is sought by
       an Indemnified Party, enclosing a copy of all papers served, if any, and
       specifying the nature of and basis for such Third Party Claim and for the
       Indemnified Party's claim against the Indemnifying Party under
       Section 9.01, together with the amount or, if not then reasonably
       ascertainable, the estimated amount, determined in good faith;

    (j) "CLOSING DATES" means the First Closing Date and the Second Closing Date
       and "Closing Date" means either the First Closing Date or the Second
       Closing Date, as the context requires;

                                     B-1-2
<PAGE>
    (k) "COMMON STOCK" means the common stock, par value $.10 per share, of
       ebix;

    (l) "CUT-OFF DATE" means, with respect to any representation, warranty,
       covenant or agreement contained in this Agreement, the date on which such
       representation, warranty, covenant or agreement ceases to survive as
       provided in Section 11.11, as applicable;

    (m) "DISPUTE PERIOD" means the period ended 30 calendar days following
       receipt by an Indemnifying Party of either a Claim Notice or an Indemnity
       Notice;

    (n) "ebix" has the meaning set forth in the Recitals;

    (o) "ebix SUBSIDIARIES" has the meaning set forth in Section 4.3;

    (p) "ebix WARRANTIES" means the representations, warranties and undertakings
       under Article 4 of this Agreement;

    (q) "EXCHANGE ACT" has the meaning set forth in Section 4.8;

    (r) "FIRST CLOSING" means the closing of the transactions contemplated
       herein pursuant to Section 3.2;

    (s) "FIRST CLOSING CONDITIONS" means the conditions set out in Article 7 of
       this Agreement;

    (t) "FIRST CLOSING DATE" means the date on which the First Closing occurs
       (which date shall not be later than April 20, 2001 without the prior
       written agreement of the Parties);

    (u) "FORM 10-K" has the meaning set forth in Section 4.7;

    (v) "FORM 10-Qs" has the meaning set forth in Section 4.7;

    (w) "FORM 8-Ks" has the meaning set forth in Section 4.7;

    (x) "FRAMEWORK AGREEMENT" means the agreement to be negotiated and entered
       into between BRiT and ebix pursuant to Section 6.11;

    (y) "GAAP" has the meaning set forth in Section 4.8;

    (y) "IBS" has the meaning set forth in the Recitals;

    (z) "IBS SHARES" has the meaning set forth in the Recitals;

    (aa) "INDEMNIFIED PARTY" means any person against whom a claim for
       indemnification is being asserted under any provision of Article 9;

    (bb) "INDEMNITY NOTICE" means written notification pursuant to
       Section 9.02(b) of a claim for indemnity under Article 9 by an
       Indemnified Party, specifying the nature of and the basis for such claim,
       together with the amount or, if not then reasonably ascertainable, the
       estimated amount, determined in good faith, of such claim;

    (cc) "INTELLECTUAL PROPERTY" has the meaning set forth in Section 4.12;

    (dd) "LOSS" means any and all damages, fines, penalties, deficiencies,
       losses and expenses (including without limitation interest, court costs,
       reasonable fees of attorneys, accountants and other experts or other
       reasonable expenses of litigation or other proceedings or of any claim,
       default or assessment);

    (ee) "MATERIAL ADVERSE EFFECT" on a specified entity means a material
       adverse effect on the financial condition, operating results or business
       of the entity and its subsidiaries taken as a whole;

    (ff) "PARTIES" means named parties to this Agreement, and "PARTY" means
       either of them;

                                     B-1-3
<PAGE>
    (gg) "REGISTRATION RIGHTS AGREEMENT" means the registration rights agreement
       to be entered into between BRiT and ebix pursuant to the terms of this
       Agreement substantially in the form attached hereto as Exhibit A;

    (ii) "RESALE REGISTRATION STATEMENT" means any registration form under the
       Securities Act pursuant to which ebix can register the Shares with the
       SEC to permit public resales of the Shares by BRiT in the United States
       from time to time;

    (jj) "SEC" has the meaning set forth in Section 4.7;

    (kk) "SEC DOCUMENTS" has the meaning set forth in Section 4.7;

    (ll) "SECOND CLOSING" means the closing of the transactions contemplated
       herein pursuant to Section 3.3;

    (mm)"SECOND CLOSING DATE" has the meaning set forth in Section 3.4;

    (nn) "SECOND CLOSING CONDITIONS" means the conditions set out in Article 8
       of this Agreement;

    (oo) "SECURITIES ACT" has the meaning set forth in Section 4.8;

    (pp) "SHARES" has the meaning set forth in the Recitals;

    (qq) "THIRD PARTY CLAIM" has the meaning set forth in Section 9.02(a); and

    (rr) "TRANSACTION AGREEMENTS" means the Share Exchange and Purchase
       Agreement and the Registration Rights Agreement.

1.2   Unless the context of this Agreement otherwise requires, (a) words of
     either gender include the other gender; (b) words using the singular or
     plural number also include the plural or singular number, respectively;
     (c) the terms "hereof", "herein", "hereby" and derivative or similar words
     refer to this entire Agreement; (d) the terms "Article" or "Section" refer
     to the specified Article or Section of this Agreement and (e) the
     expressions "ebix," "BRiT" and "IBS" shall, where the context permits,
     include their respective successors and permitted assigns. All accounting
     terms used herein and not expressly defined herein shall have the meanings
     given to them under U.S. GAAP.

2.  PURCHASE AND SALE

2.1   Subject to satisfaction of the First Closing Conditions and on the terms
     set forth in this Agreement, at the First Closing ebix shall issue and sell
     to BRiT, and BRiT shall purchase from ebix, 2,240,000 of the Shares, and in
     consideration therefor BRiT shall make a cash payment to ebix in the amount
     of US$ 2,800,000.

2.2   Subject to satisfaction of the Second Closing Conditions and on the terms
     set forth in this Agreement, at the Second Closing ebix shall issue and
     sell to BRiT, and BRiT shall purchase from ebix, 4,704,000 of the Shares,
     and in consideration therefor: (a) BRiT shall make a cash payment to ebix
     in the amount of US$ 4,200,000; and (b) BRiT shall transfer to ebix all of
     the right, title and interest in such number of IBS Shares as provided for
     by Section 2.3.

2.3   The number of IBS Shares to be transferred to ebix pursuant to
     Section 2.2 shall be calculated as follows:

       Z = (.28 X I)

    where Z equals the number of IBS Shares to be transferred and I equals the
    number of IBS Shares outstanding on the date of this Agreement. Such number
    of IBS Shares shall be adjusted (and appropriate deliveries shall be made as
    promptly as reasonably practicable, if necessary because of such adjustment,
    after the Second Closing Date) to account for any stock splits, stock

                                     B-1-4
<PAGE>
    dividends, reclassifications, recapitalizations and similar events, the
    record date for which occurs after the date of this Agreement and prior to
    the Second Closing Date or the record date for which occurred prior to the
    date of this Agreement unless the payment date also occurred prior to the
    date hereof.

3.  CLOSINGS

3.1   The Closings shall take place at the offices of Sonnenschein Nath &
     Rosenthal, Chicago, Illinois, or such other place as the Parties may
     mutually agree on the respective Closing Dates at 12:00 noon local time.

3.2   Subject to Article 7, on the First Closing Date:

    (a) ebix shall issue to BRiT and deliver as provided in
       Section 3.2(b)(iii) below the Shares specified in Section 2.1, credited
       as fully paid and nonassessable;

    (b) ebix shall deliver or caused to be delivered to BRiT:

        (i) a certificate dated the First Closing Date and executed by the
            President and Chief Executive Officer of ebix, substantially in the
            form and to the effect of Exhibit B hereto;

        (ii) a certificate dated the First Closing Date and executed by the
             Secretary of ebix, substantially in the form and to the effect of
             Exhibit C hereto;

       (iii) duly issued share certificate(s) in the name of BRiT in respect of
             the Shares specified in Section 2.1;

        (iv) the Registration Rights Agreement, duly executed by ebix;

        (v) an opinion from Sonnenschein Nath & Rosenthal, counsel to ebix,
            dated the First Closing Date, substantially in the form and to the
            effect of Exhibit D hereto; and

        (vi) all other documents required to be delivered by ebix pursuant to
             the Transaction Documents at or prior to the First Closing; and

    (c) BRiT shall deliver or caused to be delivered to ebix:

        (i) a certificate dated the First Closing Date and executed by the Chief
            Executive Officer of BRiT, substantially in the form and to the
            effect of Exhibit E hereto;

        (ii) a certificate dated the First Closing Date and executed by the
             Secretary of BRiT, substantially in the form and to the effect of
             Exhibit F hereto;

       (iii) U.S.$2,800,000 in immediately available funds by wire transfer to
             such account or accounts as specified by ebix in a written notice
             delivered to BRiT at least two full business days prior to the
             First Closing Date;

        (iv) the Registration Rights Agreement, duly executed by BRiT;

        (v) an opinion from Dorsey & Whitney, counsel to BRiT, dated the First
            Closing Date, substantially in the form and to the effect of
            Exhibit G hereto; and

        (vi) all other documents required to be delivered by BRiT at or prior to
             the First Closing.

3.3   Subject to Article 8, on the Second Closing Date:

    (a) ebix shall issue and sell to BRiT the Shares specified in Section 2.2,
       credited as fully paid and nonassessable;

                                     B-1-5
<PAGE>
    (b) ebix shall deliver or caused to be delivered to BRiT:

        (i) a certificate dated the Second Closing Date and executed by the
            President and Chief Executive Officer of ebix, substantially in the
            form and to the effect of Exhibit B hereto;

        (ii) a certificate dated the Second Closing Date and executed by the
             Secretary of ebix, substantially in the form and to the effect of
             Exhibit C hereto;

       (iii) duly issued share certificate(s) in the name of BRiT in respect of
             the Shares specified in Section 2.2;

        (iv) an opinion from Sonnenschein Nath & Rosenthal, counsel to ebix,
             dated the Second Closing Date, substantially in the form and to the
             effect of Exhibit D hereto; and

        (v) all other documents required to be delivered by ebix at or prior to
            the Second Closing;

    (c) BRiT shall transfer to ebix and deliver as provided in
       Section 3.3(d) (iii) below the number of IBS Shares specified in
       Section 2.3; and

    (d) BRiT shall deliver or caused to be delivered to ebix:

        (i) a certificate dated the Second Closing Date and executed by the
            Chief Executive Officer of BRiT, substantially in the form and to
            the effect of Exhibit E hereto;

        (ii) a certificate dated the Second Closing Date and executed by the
             Secretary of BRiT, substantially in the form and to the effect of
             Exhibit F hereto;

       (iii) the number of IBS Shares determined in accordance with Section 2.3
             to be sold to ebix on the Second Closing Date issued in the name of
             ebix;

        (iv) U.S.$4,200,000 in immediately available funds by wire transfer to
             such account or accounts as specified by ebix in a written notice
             delivered to BRiT at least two full business days prior to the
             Second Closing Date;

        (v) an opinion from Dorsey & Whitney LLP, counsel to BRiT, dated the
            Second Closing Date, substantially in the form and to the effect of
            Exhibit G hereto; and

        (vi) all other documents required to be delivered by BRiT at or prior to
             the Second Closing.

3.4   The "SECOND CLOSING DATE" shall be the Business Day notified by BRiT to
     ebix in writing that is at least five days subsequent to the date that is
     the later of (i) the date of the execution and delivery by the Parties of
     the Framework Agreement (as contemplated by Section 6.11) and (ii) the date
     on which ebix has obtained requisite approval from its stockholders of the
     Approval Transactions (as contemplated by Section 6.5) (but no more than
     ten days after the later of such events if the other conditions to such
     Second Closing have been satisfied or waived); PROVIDED THAT such date
     shall not be later than June 29, 2001, unless otherwise consented to by
     BRiT (in its sole discretion) at the written request of ebix.

4.  REPRESENTATIONS AND WARRANTIES OF EBIX

    Ebix hereby represents and warrants to BRiT that, except as disclosed in its
    SEC Documents (as defined herein) filed with the SEC from January 1, 2000 to
    the date hereof or as otherwise disclosed to BRiT in the Disclosure Schedule
    attached hereto,which Schedule shall specifically identify the relevant
    section hereof:

4.1   ORGANIZATION, GOOD STANDING AND QUALIFICATION. ebix is a corporation duly
     organized, validly existing and in good standing under the laws of the
     State of Delaware. ebix has all requisite corporate power and authority to
     own and operate its properties and assets, to execute and

                                     B-1-6
<PAGE>
     deliver this Agreement and the other Transaction Agreements, to issue, sell
     and deliver the Shares (subject, in the case of the Second Closing, to
     obtaining approval of ebix's stockholders and completion of such other
     actions as are necessary to amend ebix's Certificate of Incorporation to
     adequately increase the number of authorized shares of Common Stock to
     permit the issuance of the Shares at the Second Closing), to carry out the
     provisions of this Agreement and the other Transaction Agreements (subject,
     in the case of the Second Closing, to obtaining approval of ebix's
     stockholders and completion of such other actions as are necessary to amend
     ebix's Certificate of Incorporation to adequately increase the number of
     authorized shares of Common Stock to permit the issuance of the Shares at
     the Second Closing) and to carry on its business as presently conducted and
     as presently proposed to be conducted. ebix is duly qualified and is
     authorized to do business and is in good standing as a foreign corporation
     in each jurisdiction where the failure to be so qualified would have a
     material adverse effect on ebix's business as now conducted.

4.2   AUTHORIZATION; BINDING OBLIGATIONS. All actions on the part of ebix and
     its officers, directors and stockholders necessary for the authorization,
     execution and delivery of this Agreement and the other Transaction
     Agreements, the performance of all obligations of ebix hereunder and
     thereunder and the authorization, sale, issuance and delivery of the Shares
     pursuant hereto have been taken (subject, in the case of the Second
     Closing, to obtaining approval of ebix's stockholders and completion of
     such other actions as are necessary to amend ebix's Certificate of
     Incorporation to adequately increase the number of authorized shares of
     Common Stock to permit the issuance of the Shares at the Second Closing and
     to amend ebix's by-laws to increase the size of its Board of Directors).
     This Agreement and each Transaction Agreement have been duly executed and
     delivered by ebix and (assuming the due authorization, execution and
     delivery hereof and thereof by BRiT) this Agreement and each Transaction
     Agreement is a valid and binding obligation of ebix enforceable in
     accordance with its terms, except (a) as limited by applicable bankruptcy,
     insolvency, reorganization, moratorium or other laws of general application
     affecting enforcement of creditors' rights and (b) general principles of
     equity that restrict the availability of equitable remedies. The sale of
     the Shares is not subject to any preemptive or similar rights or rights of
     first refusal that have not been properly waived or complied with.

4.3   SUBSIDIARIES. Set forth on the Disclosure Schedule hereto, is a list of
     all entities in which ebix beneficially owns, directly or indirectly, 50%
     or more of the outstanding stock or other equity interests (collectively,
     the "EBIX SUBSIDIARIES") as of the date of this Agreement. Each ebix
     Subsidiary has been duly organized and is validly existing under the laws
     of its jurisdiction of organization, is not in liquidation or receivership,
     and has the power and authority (corporate or other) to own its properties
     and conduct its business as described in the SEC Documents (as defined
     below); and each ebix Subsidiary is duly qualified to do business as a
     foreign corporation in each jurisdiction where the failure to be so
     qualified would have a material adverse effect on ebix's business as now
     conducted. All of the issued and outstanding capital stock of each ebix
     Subsidiary has been duly authorized and validly issued and is fully paid
     and non-assessable; and the capital stock or equity interests of each ebix
     Subsidiary owned by ebix, directly or through subsidiaries, is owned free
     from liens, encumbrances and defects other than as set forth in the SEC
     Documents or which would not have a material adverse effect on ebix.

4.4   CAPITALIZATION. As of the date hereof the authorized capital stock of ebix
     consists solely of (a) 20,000,000 shares of Common Stock, of which
     11,382,182 shares are issued and outstanding, and 2,000,000 shares of
     Preferred Stock of which no shares are issued and outstanding and 322,383
     shares have been previously issued and then redeemed or reacquired and
     cannot be reissued. Except as set forth on the Disclosure Schedule, as set
     forth above or as described or expressly contemplated by the SEC Documents
     (as defined herein), as of the date hereof there

                                     B-1-7
<PAGE>
     are no outstanding rights (including without limitation, preemptive rights)
     warrants or options to acquire, or instruments convertible into or
     exchangeable for, any material number of shares of Common Stock or any
     other class of shares or equity interest in ebix or any of its
     subsidiaries, or any contract, commitment, agreement, understanding or
     arrangement of any kind relating to the issuance of any material number of
     shares of capital stock of ebix or any ebix Subsidiary, any such
     convertible or exchangeable securities or any such rights, warrants or
     options. As of the date hereof, each issued share of Common Stock is duly
     authorized, validly issued, fully paid and non-assessable.

4.5   VALIDLY ISSUED SHARES. When issued in compliance with the provisions of
     this Agreement, the Shares will be validly issued, fully paid and
     non-assessable and will be free of any restrictions, limits, claims, liens
     or other encumbrances; PROVIDED, HOWEVER, that the Shares will be subject
     to restrictions on transfer under state and/or federal securities laws as
     set forth herein or as otherwise required by such laws at the time a
     transfer is proposed.

4.6   CONSENTS AND APPROVALS; NO VIOLATIONS. Except for the filings, permits,
     authorizations, consents and approvals as may be required under federal
     and/or state securities laws, laws of England and Wales and applicable
     regulations of the NASDAQ Stock Market or otherwise set forth in the
     Disclosure Schedule, none of the execution, delivery or performance of this
     Agreement or the other Transaction Agreements by ebix, the consummation by
     ebix of the transactions contemplated hereby or thereby or compliance by
     ebix with any of the provisions hereof will (a) conflict with or result in
     any breach of any provision of the Certificate of Incorporation or bylaws
     of ebix (except the need to amend the by-laws to increase the size of the
     ebix Board and to amend the Certificate of Incorporation to adequately
     increase the number of shares of Common Stock to permit the issuance of the
     Shares at the Second Closing) or of any ebix Subsidiary, (b) except as
     noted in subclause (a) require any filing with, or permit, authorization,
     consent or approval of, any governmental entity, (c) result in a violation
     or breach of, or constitute (with or without due notice or lapse of time or
     both) a default (or give rise to any right of termination, cancellation or
     acceleration) under, any of the terms, conditions or provisions of any
     note, bond, mortgage, indenture, lease, license, contract, agreement or
     other instrument or obligation to which ebix or any of the ebix
     Subsidiaries is a party or by which any of them or any of their respective
     properties or assets may be bound or (d) violate any order, writ,
     injunction, decree, statute, rule or regulation applicable to ebix, any of
     the ebix Subsidiaries or any of their properties or assets, excluding from
     the foregoing clauses (b), (c) and (d) such violations, breaches or
     defaults which would not, individually or in the aggregate, have a material
     adverse effect on ebix's ability to consummate the transactions or a
     Material Adverse Effect on ebix.

4.7   SEC DOCUMENTS. ebix has made available to BRiT, prior to the date hereof,
     copies of its Annual Report on Form 10-K for the fiscal year ended
     December 31, 1999 ("FORM 10-K"), its Quarterly Reports on Form 10-Q for the
     fiscal quarters ended March 31, 2000, June 30, 2000 and September 30, 2000
     (the "FORM 10-QS"), the Current Reports on Form 8-K filed since January 1,
     2000 (the "FORM 8-KS"), and all other registration statements, reports and
     proxy statements filed by ebix with the Securities and Exchange Commission
     ("SEC") on or after January 1, 2000 (the Form 10-K, the Form 10-Qs, the
     Form 8-Ks and such registration statements, reports and proxy statements,
     are collectively referred to herein as the "SEC DOCUMENTS"). Each of the
     SEC Documents, as of its respective date (or if amended or superseded by a
     filing prior to the date of this Agreement, then on the date of such
     filing), did not, and each of the registration statements, reports and
     proxy statements filed by ebix with the SEC after the date hereof and prior
     to the respective Closings, will not, as of the date thereof (or if amended
     or superseded by a filing prior to the date of such Closing, then on the
     date of such filing), contain any untrue statement of a material fact or
     omit to state a material fact

                                     B-1-8
<PAGE>
     necessary in order to make the statements made therein, in light of the
     circumstances under which they were made, not misleading. ebix is not a
     party to any material contract, agreement or other arrangement which was
     required to have been filed as an exhibit to the SEC Documents that is not
     so filed.

4.8   FINANCIAL STATEMENTS. ebix has made available to BRiT copies of its
     audited financial statements (the "AUDITED FINANCIAL STATEMENTS") for the
     fiscal year ended December 31, 1999, and its unaudited financial statements
     for the nine-month period ended September 30, 2000 (the "BALANCE SHEET
     DATE") (collectively, the Audited Financial Statements and such unaudited
     financial statements are the "FINANCIAL STATEMENTS"). Since the Balance
     Sheet Date, ebix has duly and timely filed with the SEC all registration
     statements, reports and proxy statements required to be filed by it under
     the Securities Exchange Act of 1934, as amended (the "EXCHANGE ACT"), and
     the Securities Act of 1933, as amended (the "SECURITIES ACT"). The audited
     and unaudited consolidated financial statements of ebix included in the SEC
     Documents filed prior to the date hereof fairly present, in conformity with
     United States generally accepted accounting principles ("GAAP") (except as
     permitted by Form 10-Q) applied on a consistent basis (except as may be
     indicated in the notes thereto), the consolidated financial position of
     ebix and its consolidated subsidiaries as at the dates thereof and the
     consolidated results of their operations and cash flows for the periods
     then ended (subject to normal year end audit adjustments in the case of
     unaudited interim financial statements).

4.9   ABSENCE OF CERTAIN CHANGES. Since the Balance Sheet Date and other than in
     the ordinary course or as set forth in the Disclosure Schedule, there has
     not been:

    (a) any declaration, setting aside or payment of any dividend or other
       distribution of the assets of ebix or any ebix Subsidiary with respect to
       any shares of capital stock of ebix or any ebix Subsidiary or any
       repurchase, redemption or other acquisition by ebix or any ebix
       Subsidiary of a material number of the outstanding shares of ebix's
       capital stock;

    (b) any damage, destruction or loss, whether or not covered by insurance,
       except for such occurrences that have not resulted, and are not expected
       to result in a Material Adverse Effect on ebix;

    (c) any waiver by ebix or any ebix Subsidiary of a valuable right or of a
       material debt owed to it, except for such waivers that have not resulted
       and are not expected to result, in a Material Adverse Effect on ebix;

    (d) any material change or amendment to, or any waiver of any material
       rights under a material contract or arrangement by which ebix or any ebix
       Subsidiary or any of their respective, assets or properties is bound or
       subject, except for changes, amendments, or waivers that are expressly
       provided for or disclosed in this Agreement or that have not resulted,
       and are not expected to result, in a Material Adverse Effect on ebix;

    (e) any material change by ebix in its accounting principles, methods or
       practices or in the manner it keeps its accounting books and records,
       except any such change required by a change in GAAP; or

    (f) any other event or condition of any character, except for such events
       and conditions described or contemplated in the SEC Documents or that
       have not resulted, and are not expected to result, either individually or
       collectively, in a Material Adverse Effect on ebix.

4.10  MATERIAL OBLIGATIONS. ebix has no material liability or obligation of a
     type that would be required by GAAP to be reflected on the balance sheet of
     ebix if prepared on the date hereof, either accrued, absolute contingent or
     otherwise (individually or in the aggregate), except (a) the liabilities
     and obligations set forth in the Financial Statements and (b) liabilities
     and obligations

                                     B-1-9
<PAGE>
     which have been incurred subsequent to September 30, 2000, in the ordinary
     course of business which have not been, either in any case or in the
     aggregate, material.

4.11  MATERIAL CONTRACTS AND COMMITMENTS.

    (a) To the best of ebix's knowledge, all of the material contracts,
       agreements and instruments to which ebix or any of the ebix Subsidiaries
       is a party are valid, binding and in full force and effect in all
       material respects, subject to laws of general application relating to
       bankruptcy, insolvency and the relief of debtors and rules of law
       governing specific performance, injunctive relief or other equitable
       remedies.

    (b) Except as set forth in the Disclosure Schedule, there are no material
       agreements, understandings or proposed transactions between ebix or any
       of the ebix Subsidiaries and any of its officers, directors, affiliates
       or any affiliate thereof. There are no agreements, understandings,
       instruments, contracts, proposed transactions, judgments, orders, writs
       or decrees to which ebix is a party or by which ebix or any of the ebix
       Subsidiaries is bound which involve (i) the license of any patent,
       copyright, trade secret or other proprietary right to or from ebix or any
       ebix Subsidiary, (ii) provisions materially restricting or negatively
       affecting the development, manufacture or distribution of ebix's or its
       Subsidiaries products or services or (iii) indemnification by ebix or any
       ebix Subsidiary with respect to infringements of proprietary rights.

    (c) Except as contemplated by the Registration Rights Agreement, ebix has no
       agreement or commitment to register shares of its capital stock with the
       SEC other than as set forth on the Disclosure Schedule.

4.12  INTELLECTUAL PROPERTY.

    (a) ebix (including, for purposes of Section 4.12, the ebix Subsidiaries)
       owns, or is licensed to use, all trademarks, service marks, trade names,
       copyright, internet domain names, trade secrets, information, proprietary
       rights and processes (the "INTELLECTUAL PROPERTY") necessary for its
       business as now conducted and, to ebix's knowledge, as proposed to be
       conducted without any conflict with or infringement of the rights of
       others. ebix owns no patents and has no pending patent applications. ebix
       is not obligated to make any material payments by way of royalties, fees
       or otherwise to any owner or licensor of any patent, trademark, trade
       name, copyright or other intangible asset, with respect to the use
       thereof or in connection with the conduct of its business, or otherwise.
       ebix has not granted any third party any option, license or other right
       of any kind to the Intellectual Property. ebix does not license any
       technology from any third party other than for internal use and other
       than such licenses arising from the purchase of "off the shelf" or
       standard products. Except as set forth on the Disclosure Schedule, ebix
       owns or has the unrestricted right to use all trade secrets, including
       know-how, customer lists, inventions, designs, processes, computer
       programs and technical data necessary to the development, operation and
       sale of all products and services sold or proposed to be sold by it, free
       and clear of any rights, liens or claims of others. Except as set forth
       in the Disclosure Schedule, ebix has no knowledge of any violation or
       infringement by a third party of any of ebix's rights in the Intellectual
       Property. Except as set forth in the Disclosure Schedule, ebix has not
       received any communications alleging that ebix has violated or, by
       conducting its business as proposed, would violate any of the patents,
       trademarks, service marks, trade names, copyrights or trade secrets or
       other proprietary rights of any other person or entity, nor is ebix aware
       of any basis for any such violation. ebix is not aware, without special
       or specific investigation, that any of its employees, officers,
       consultants or contractors are obligated under any contract (including
       licenses, covenants or commitments of any nature) or other agreement, or
       subject to any judgment, decree or order of any court or administrative
       agency, that would interfere with the use of his or her best efforts to
       promote the interests of

                                     B-1-10
<PAGE>
       ebix or that would conflict with ebix's business as conducted or as
       proposed to be conducted. Neither the execution nor delivery of this
       Agreement, nor the carrying on of ebix's business by the employees of
       ebix, nor the conduct of ebix's business as proposed, will conflict with
       or result in a breach of the terms, conditions or provisions of, or
       constitute a default under, any contract, covenant or instrument under
       which any of such employees, officers, consultants or contractors is, to
       the best of ebix's knowledge, without special or specific investigation,
       now obligated. ebix has taken reasonable security measures to protect the
       Intellectual Property.

    (b) Each employee (including independent contractors, if any) and each
       officer of ebix has executed an employee confidential information and
       invention agreement. Such proprietary information agreements constitute
       valid and binding obligations of ebix and such persons, enforceable in
       accordance with their respective terms, subject to the laws of general
       application relating to bankruptcy, insolvency and the relief of debtors
       and rules of law governing specific performance, injunction relief or
       other equitable remedies. ebix has no knowledge, without special or
       specific investigation, that any of its employees is obligated under any
       contract (including licenses, covenants or commitments of any nature) or
       other agreement or subject to any judgment, decree or order of any court
       of administrative agency, that would interfere with the use of his or her
       best efforts to promote the interests of ebix or that would conflict with
       ebix's business as currently conducted. ebix has no reason to believe it
       is or will be necessary to utilize any inventions of any of its employees
       made prior to their employment by ebix except for any such inventions
       that are in the public domain.

4.13  TITLE TO PROPERTIES AND ASSETS; LIENS, ETC.

    (a) Each of ebix and the ebix Subsidiaries has good and marketable title to
       all properties and assets and has good title to all its leasehold
       interests necessary for its business as currently conducted in all
       material respects, in each case subject to no mortgage, pledge, lien,
       lease (in the case of owned properties), encumbrance or charge, other
       than (i) the lien of current taxes not yet due and payable, and
       (ii) possible minor liens and encumbrances which do not in any case
       materially detract from the value of the property subject thereto or
       materially impair the operations of ebix, and which have not arisen
       otherwise than in the ordinary course of business.

    (b) The buildings, equipment and other tangible assets of ebix and the ebix
       Subsidiaries used by ebix and the ebix Subsidiaries in the conduct of
       their business are, in all material respects, in good condition and
       repair, ordinary wear and tear excepted, and are adequate and suitable
       for the purposes for which they are currently being used.

4.14  COMPLIANCE WITH OTHER INSTRUMENTS, NONE BURDENSOME, ETC. None of ebix or
     the ebix Subsidiaries is in violation of any term of its Certificate of
     Incorporation or bylaws, as each are amended to date, or in any material
     respect of any term or provision of any material mortgage, indebtedness,
     indenture, contract, agreement, instrument, judgment or decree, and none of
     ebix or the ebix Subsidiaries is in violation of any law, order, statute,
     rule or regulation applicable to ebix or the ebix Subsidiaries except for
     such violations that have not and would not result in a Material Adverse
     Effect on ebix. The execution, delivery and performance of and compliance
     with this Agreement and the other Transaction Agreements, and (subject, in
     the case of the Second Closing, to obtaining approval of ebix's
     stockholders and completion of such other actions as are necessary to amend
     ebix's Certificate of Incorporation to adequately increase the number of
     authorized shares of Common Stock to permit the issuance of the Shares at
     the Second Closing) the issuance of the Shares have not resulted and will
     not, based upon facts as they exist today, result (a) in any violation of,
     or conflict with, or constitute a default under, ebix's Certificate of
     Incorporation or bylaws, as amended to date (except the need to amend the
     by laws to increase the size of the ebix Board), or (b) in any material
     violation of, conflict with or default under any

                                     B-1-11
<PAGE>
     of its agreements, nor result in the creation of, any mortgage, pledge,
     lien, encumbrance or charge upon any of the material properties or assets
     of ebix and the ebix Subsidiaries.

4.15  LITIGATION, ETC. Except as set forth in the Disclosure Schedule, there are
     no actions, suits, proceedings or investigations pending against ebix, the
     ebix Subsidiaries or their properties before any court or governmental
     agency (nor, to the best knowledge of the executive officers of ebix after
     inquiry of all of the vice presidents of ebix, is there any threat
     thereof), which could reasonably be expected to have a Material Adverse
     Effect on ebix or materially adversely affect the consummation of the
     transactions contemplated hereby). To the best knowledge of the executive
     officers of ebix after inquiry of all of the vice presidents of ebix, there
     is no reasonable basis for any specific claim that could reasonably be
     expected to result in a Material Adverse Effect and that is probable of
     assertion. Ebix is not a party or subject to the provisions of any order,
     writ, injunction, judgment or decree of any court or government agency or
     instrumentality. There is no action, suit, proceeding or investigation by
     ebix currently pending or which ebix intends to initiate.

4.16  BROKERS OR FINDERS. ebix has not engaged any brokers, finders or agents,
     and BRiT has not incurred, and will not incur, directly or indirectly, as a
     result of any action taken by ebix, any liability for brokerage or finders'
     fees or agents' commissions or any similar charges in connection with the
     Agreements. In the event that the preceding sentence is in any way
     inaccurate, ebix hereby agrees to indemnify and hold harmless BRiT from any
     liability for any commission or compensation in the nature of a finder's
     fee (and the costs and expenses of defending against such liability or
     asserted liability) for which BRiT or any of its officers, partners,
     employees or representatives is responsible.

4.17  TAX RETURNS AND PAYMENTS. ebix has timely filed all tax returns (federal,
     state and local) required to be filed by it. All such tax returns are true
     and correct in all material respects. All taxes shown to be due and payable
     on such returns, any assessments imposed, and all other taxes due and
     payable by ebix on or before each Closing have been paid or will be paid
     prior to the time they become delinquent. Ebix has not been advised
     (a) that any of its returns, federal, state or other, have been or are
     being audited as of the date hereof, or (b) of any deficiency in assessment
     or proposed judgment to its federal, state or other taxes. Ebix has no
     knowledge of any liability for any tax to be imposed upon its properties or
     assets as of the date of each Closing that is not adequately provided for.

4.18  EMPLOYEE MATTERS. Except as set forth in the Disclosure Schedule, neither
     ebix nor any ebix Subsidiary has employment contracts with any of its
     employees not terminable at will. ebix does not have any collective
     bargaining agreements with any of its employees and no labor union
     organizing activity is pending or threatened with respect to ebix. Ebix
     does not have any Employee Benefit Plan as defined in the United States
     Employee Retirement Income Security Act of 1974.

4.19  INSURANCE. ebix has in full force and effect fire and casualty insurance
     policies, with extended coverage, sufficient in amount (subject to
     reasonable deductibles) to allow it to replace any of its or its
     Subsidiaries properties material to its business that might be damaged or
     destroyed.

4.20  LEGENDS. ebix agrees that the certificates for the IBS Shares shall bear
     the following legend:

           THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
           REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
           AS AMENDED (THE "SECURITIES ACT"), OR WITH ANY STATE
           SECURITIES COMMISSION, AND MAY NOT BE TRANSFERRED OR
           DISPOSED OF BY THE HOLDER IN THE ABSENCE OF REGISTRATION
           WHICH IS EFFECTIVE UNDER THE

                                     B-1-12
<PAGE>
           SECURITIES ACT AND APPLICABLE STATE LAWS AND RULES, OR,
           UNLESS, IMMEDIATELY PRIOR TO THE TIME SET FOR TRANSFER,
           SUCH TRANSFER MAY BE EFFECTED WITHOUT VIOLATION OF THE
           SECURITIES ACT AND OTHER APPLICABLE STATE LAWS AND RULES.

4.22  PURCHASE FOR OWN ACCOUNT. The IBS Shares to be acquired by ebix are being
     acquired for investment for ebix's own account, not as a nominee or agent,
     and not with a view to the public resale or distribution thereof within the
     meaning of the Securities Act, and ebix has no present intention of
     selling, granting any participation in, or otherwise distributing the same.

4.23  RESTRICTED SECURITIES. ebix hereby acknowledges and agrees with BRiT that
     the IBS Shares have not been registered under the Securities Act and may
     not be offered or sold except pursuant to a registration statement or
     pursuant to an exemption from the registration requirements of the
     Securities Act. Ebix further agrees that it has not entered and will not
     enter into any contractual arrangement with respect to the distribution or
     delivery of the Shares, other than pursuant to Rule 144 under the
     Securities Act or in another transaction that does not require registration
     under the Securities Act. Ebix is familiar with Rule 144 under the
     Securities Act, as presently in effect, and understands the resale
     limitations imposed thereby and by the Securities Act.

5.  REPRESENTATIONS AND WARRANTIES OF BRIT

    BRiT hereby represents and warrants to ebix that:

5.1   ORGANIZATION, GOOD STANDING AND QUALIFICATION. BRiT is a corporation duly
     organized and validly existing under the laws of England and Wales and is
     not in liquidation or receivership. The memorandum and articles of
     association of BRiT comply with the requirements of applicable English law
     and are in full force and effect. To the best knowledge of BRiT, IBS is a
     corporation duly organized, validly existing and in good standing under the
     laws of the State of Delaware. BRiT has all requisite corporate power and
     authority to execute and deliver this Agreement and the other Transaction
     Documents to transfer the IBS Shares subject to the terms and conditions of
     this Agreement and to carry out the provisions of this Agreement and the
     other Transaction Documents.

5.2   AUTHORIZATION; BINDING OBLIGATIONS. All actions on the part of BRiT and
     its officers, directors and shareholders necessary for the authorization,
     execution and delivery of this Agreement and the other Transaction
     Agreements, the performance of all obligations of BRiT hereunder and
     thereunder has been taken or will be taken prior to each Closing. This
     Agreement and the other Transaction Documents have been duly executed and
     delivered by BRiT, and (assuming the due authorization, execution and
     delivery hereof by ebix) this Agreement is a valid and binding obligation
     of BRiT enforceable in accordance with its terms, except (a) as limited by
     applicable bankruptcy, insolvency, reorganization, moratorium or other laws
     of general application affecting enforcement of creditors' rights and
     (b) general principles of equity that restrict the availability of
     equitable remedies.

5.3   CAPITALIZATION. To the best knowledge of BRiT, the shares constituting the
     issued share capital of IBS have been duly authorized and validly issued,
     are credited as fully paid and non-assessable and are not subject to
     preemptive or similar rights. For purposes of determining the calculation
     of IBS Shares pursuant to Section 2.3 only, BRiT hereby represents and
     warrants that the total number of issued and outstanding shares of common
     stock, par value $0.01 per share, of IBS as of the date hereof, is
     13,976,939.

5.4   GOOD TITLE. BRiT has good and valuable title to the IBS Shares, free from
     all restrictions, limits, claims, liens, charges, encumbrances, pledges and
     other third party rights.

                                     B-1-13
<PAGE>
5.5   CONSENTS AND APPROVALS; NO VIOLATIONS. None of the execution, delivery or
     performance of this Agreement and the other Transaction Agreements by BRiT,
     the consummation by BRiT of the transactions contemplated hereby and
     thereby or compliance by BRiT with any of the provisions hereof or thereof
     will (a) conflict with or result in any breach of any provision of the
     certificate of incorporation or memorandum and articles of association of
     BRiT, (b) require any filing with, or permit, authorization, consent or
     approval of, any governmental entity, (c) result in a violation or breach
     of, or constitute (with or without due notice or lapse of time or both) a
     default (or give rise to any right of termination, cancellation or
     acceleration) under, any of the terms, conditions or provisions of any
     note, bond, mortgage, indenture, lease, license, contract, agreement or
     other instrument or obligation to which BRiT or any of its material
     subsidiaries is a party or by which any of them or any of their respective
     properties or assets may be bound or (d) violate any order, writ,
     injunction, decree, statute, rule or regulation applicable to BRiT, any of
     its material subsidiaries or any of their properties or assets, excluding
     from the foregoing clauses (b), (c) and (d) such violations, breaches or
     defaults which would not, individually or in the aggregate, have a material
     adverse effect on BRiT's ability to consummate such transactions.

5.6   BROKERS OR FINDERS. BRiT has not engaged any brokers, finders or agents,
     and ebix has not, and will not, incur, directly or indirectly, as a result
     of any action taken by BRiT, any liability for brokerage or finders' fees
     or agents' commissions or any similar charges in connection with this
     Agreement or the other Transaction Agreements. In the event that the
     preceding sentence is in any way inaccurate, BRiT agrees to indemnify and
     hold harmless ebix from any liability for any commission or compensation in
     the nature of a finder's fee (and the costs and expenses of defending
     against such liability) for which ebix or any of its officers, directors,
     employees or representatives, is responsible.

5.7   RESTRICTED SECURITIES. BRiT hereby acknowledges and agrees with ebix that
     the Shares have not been registered under the Securities Act and may not be
     offered or sold except pursuant to a registration statement or pursuant to
     an exemption from the registration requirements of the Securities Act. BRiT
     further agrees that it has not entered and will not enter into any
     contractual arrangement with respect to the distribution or delivery of the
     Shares, other than (a) pursuant to the Registration Rights Agreement,
     (b) pursuant to Rule 144 under the Securities Act or (c) pursuant to any
     other transaction that does not require registration under the Securities
     Act. BRiT is familiar with Rule 144 under the Securities Act, as presently
     in effect, and understands the resale limitations imposed thereby and by
     the Securities Act.

5.8   LEGENDS. BRiT agrees that the certificates for the Shares shall bear the
     following legend:

           THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
           REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
           AS AMENDED (THE "SECURITIES ACT"), OR WITH ANY STATE
           SECURITIES COMMISSION, AND MAY NOT BE TRANSFERRED OR
           DISPOSED OF BY THE HOLDER IN THE ABSENCE OF REGISTRATION
           WHICH IS EFFECTIVE UNDER THE SECURITIES ACT AND APPLICABLE
           STATE LAWS AND RULES, OR, UNLESS, IMMEDIATELY PRIOR TO THE
           TIME SET FOR TRANSFER, SUCH TRANSFER MAY BE EFFECTED
           WITHOUT VIOLATION OF THE SECURITIES ACT AND OTHER
           APPLICABLE STATE LAWS AND RULES.

6.  COVENANTS

    Each of the Parties covenants and agrees as follows.

                                     B-1-14
<PAGE>
6.1   APPOINTMENT OF DIRECTORS. BRiT shall, (i) for so long as it maintains
     beneficial ownership of 10% or more of ebix's issued and outstanding
     Shares, have the right to designate one person for appointment or election
     as a member of the Board of Directors of ebix, and (ii) for so long as it
     maintains beneficial ownership of 20% or more of ebix's issued and
     outstanding Shares, have the right (but not the obligation) to designate
     two persons for appointment or election as members of the Board of
     Directors of ebix, each such designee to be reasonably acceptable to ebix.
     If such right is exercised, ebix shall use its reasonable best efforts to
     have such designee(s) promptly appointed or elected as member(s) of the
     ebix Board of Directors unless such appointment or election would result in
     BRiT designees holding more than the number of directorships to which
     BRiT's beneficial ownership of Shares entitles it hereunder.
     Notwithstanding the foregoing, BRiT shall not exercise its right under this
     Section 6.1 prior to consummation of the Second Closing.

6.2   CONFIDENTIAL INFORMATION. Each Party agrees that (a) all information
     received by it pursuant to this Agreement and (b) any other information
     that is disclosed by the other Party to it and is identified by the other
     Party as being confidential or proprietary, shall be considered
     confidential information. Each Party further agrees that it shall hold all
     such confidential information in confidence and shall not disclose any such
     confidential information except to its officers, directors, employees and
     advisers who are advised that by accepting such confidential information
     they are agreeing to be bound by the provisions of this Section 6.2 except
     as required by law, regulation (including the Nasdaq Marketplace Rules) or
     applicable process, PROVIDED THAT to the extent possible the other Party
     shall have been provided with reasonable notice and the opportunity to seek
     a protective order to the extent possible prior to such disclosure, other
     than to its counsel or accountants nor shall it use such confidential
     information for any purpose other than its investment in the other Party;
     PROVIDED, HOWEVER, that a party shall not be so obligated to hold in
     confidence and not to disclose confidential information that (a) was known
     to the public prior to its disclosure to such Party, (b) becomes known to
     the public through no fault of such Party, (c) is disclosed to such Party
     on a non-confidential basis by a third party having a legal right to make
     such disclosure.

6.3   NO SOLICITATION. Each Party agrees that for a period of 18 months after
     the date of this Agreement, it will not, directly or indirectly, solicit
     for employment or hire any officer, director or employee of the other Party
     or any of its subsidiaries or divisions with whom such Party has had
     contact or who became known to it in connection with its consideration of
     the transaction contemplated hereby, except that such Party shall not be
     precluded from hiring any such employee who (a) initiates discussions
     regarding such employment without any direct or indirect solicitation by
     such Party or (b) has been terminated by the other Party or its
     subsidiaries prior to commencement of employment discussions with such
     Party. The term "solicit for employment" shall not be deemed to include
     general solicitations of employment not specifically directed towards
     employees of a Party.

6.4   REGULATORY AND OTHER APPROVALS. Each Party will take all commercially
     reasonable steps necessary or desirable, and proceed diligently and in good
     faith and use all commercially reasonable efforts, as promptly as
     practicable, (a) to obtain all consents, approvals or actions of, to make
     all filings with and to give all notices to the relevant governmental or
     regulatory authorities or any other person (including but not limited to
     parties to material loan agreements, leases and other contracts) that are
     required to consummate the transactions contemplated hereby and in the
     other Transaction Agreements, (b) provide such other information and
     communications to such governmental or regulatory authority or other person
     as such governmental or regulatory authority or other person may request
     and (c) provide reasonable cooperation to the other Party in obtaining all
     consents, approvals or actions of, making all requisite filings and giving
     notices to, governmental or regulatory authorities or other persons. Each
     Party shall provide prompt

                                     B-1-15
<PAGE>
     notification to the other when any such consent, approval, action, filing
     or notice is obtained, taken, made or given, as applicable, and will advise
     the other Party promptly of any communication from any such governmental or
     regulatory authorities or other persons.

6.5   MEETING OF EBIX STOCKHOLDERS. ebix shall take all action necessary in
     accordance with applicable law, the Marketplace Rules of the Nasdaq Stock
     Market and its organizational documents to convene its annual meeting of
     stockholders to consider and vote upon the approval of, among other items,
     the transactions contemplated by this Agreement to the extent required by
     applicable law or the Marketplace Rules of the Nasdaq Stock Market (the
     "APPROVAL TRANSACTIONS"). The Parties agree that the amendment to ebix's
     Certificate of Incorporation to be included in the Approval Transactions
     shall be in form and substance satisfactory to BRiT. The Board of Directors
     of ebix shall recommend that its stockholders vote in favor of such
     approval unless the Board of Directors concludes, upon receipt of an
     opinion of counsel, that such recommendation is inconsistent with its
     fiduciary duty, and ebix shall take all lawful action to solicit such
     approval, including, without limitation, timely mailing of a proxy
     statement and forms of proxy in connection with the vote of ebix's
     stockholders with respect to the Approval Transactions (the "PROXY
     STATEMENT"). The meeting of the stockholders of ebix shall be held as soon
     as reasonably practicable. In connection therewith, ebix shall promptly
     prepare and file with the SEC as soon as practicable the Proxy Statement
     and necessary forms of proxy. BRiT shall have the right to review and
     approve the Proxy Statement prior to ebix filing the Proxy Statement with
     the SEC (which approval shall not be unreasonably withheld or delayed).
     ebix shall cause the Proxy Statement to comply in all material respects
     with the applicable provisions of the Exchange Act. ebix shall use its best
     efforts to cause the Proxy Statement to be mailed to its stockholders as
     soon as practicable after the Proxy Statement shall have been approved for
     release to such stockholders by the SEC.

6.6   LISTING APPLICATION. ebix shall promptly prepare and submit to the Nasdaq
     Stock Market a listing notification form covering the Shares.

6.7   PUBLICITY. Subject to the respective legal obligations of BRiT and ebix
     (including requirements of stock exchanges and other similar regulatory
     bodies), the initial press release relating to this Agreement and all press
     releases or public statements thereafter with respect to the transactions
     contemplated hereby shall be joint press releases or statements, and BRiT
     and ebix shall consult with each other in making any filings relating to
     this Agreement with any governmental or regulatory authorities or with any
     securities exchange.

6.8   CONDUCT OF BUSINESS; ISSUANCE OF CAPITAL.

    (a) Until the Second Closing Date (i) ebix shall conduct its business only
       in the ordinary course (except to the extent pertaining to matters
       specifically disclosed in the Disclosure Schedule) and (ii) shall not
       issue any shares of its capital stock or securities convertible into its
       capital stock (except pursuant to the exercise of options, warrants and
       other convertible securities in existence on the date hereof and except
       for grants of options and exercise of options granted to employees of
       ebix after the date hereof of which ebix has provided BRiT notice)
       without the express written consent of BRiT. Without limiting the
       generality of the foregoing, until the Second Closing Date, ebix shall
       use commercially reasonable best efforts to (x) keep available the
       services of its key officers and employees in all material respects,
       (y) maintain its assets and properties in good working order and
       condition, ordinary wear and tear excluded, and (z) maintain the good
       will of its key customers and suppliers.

    (b) ebix agrees that it shall not, without the prior written consent of
       BRiT, issue any shares of Common Stock or securities convertible into
       shares of Common Stock if, after such issuance, the number of authorized
       and issued shares of Common Stock (assuming exercise or conversion of all
       securities convertible into Common Stock) exceeds 30,000,000.

                                     B-1-16
<PAGE>
       Notwithstanding the foregoing, such consent right of BRiT shall terminate
       if BRiT holds less than 15% of the issued and outstanding shares of
       Common Stock, after, as the case may be:

        (i) the Second Closing Date; or

        (ii) termination of the rights and obligations of the Parties to effect
             the Second Closing in accordance with Section 10.2 hereof.

6.9   FULFILLMENT OF CONDITIONS. Each Party shall take all commercially
     reasonable steps necessary or desirable to proceed diligently and in good
     faith to satisfy each condition to its obligations under this Agreement and
     the other Transaction Agreements and will not and will not permit any
     subsidiary to, take any action or fail to take any commercially reasonable
     action which action or failing could reasonably be expected to result in
     the non-fulfillment of any such condition.

6.10  EXCHANGE ACT FILINGS. Until June 1, 2002 ebix shall use its reasonable
     best efforts to file with the SEC in a timely manner all reports and other
     documents required to be filed by ebix under the Exchange Act, the
     Securities Act and all applicable rules or regulations promulgated by the
     SEC thereunder and to use its reasonable best efforts to cooperate with
     every request by the SEC in connection therewith. ebix agrees to use its
     best efforts to ensure that it is able to file the Resale Registration
     Statement with the SEC on July 2, 2001, as provided for in the Registration
     Rights Agreement.

6.11  FRAMEWORK AGREEMENT. As soon as practicable after the date of this
     Agreement, each of the Parties will use its commercially reasonable best
     efforts to negotiate and enter into a framework or similar agreement (the
     "Framework Agreement") pursuant to which ebix will review BRiT's e-commerce
     strategy and provide services related thereto.

6.12  STANDSTILL. BRiT agrees that, without the prior consent of the Board of
     Directors of ebix, BRiT and its Affiliates (collectively, "BRiT Group")
     will not, by purchase or otherwise, acquire "beneficial ownership" (as that
     term is defined and used in Regulation 13D under the Exchange Act) of any
     Common Stock of ebix if, upon giving effect to such acquisition, Brit Group
     would own 49% or more of the outstanding Common Stock.

7.  FIRST CLOSING CONDITIONS

7.1   BRiT's obligations to consummate at the First Closing are, unless waived
     by BRiT, subject to the fulfillment of the following conditions:

    (a) the ebix Warranties shall have been true and correct in all material
       respects at and as of the date hereof and shall be true in all material
       respects at and as of the time of the First Closing (except to the extent
       such warranties refer specifically to an earlier date) with the same
       force and effect as though made at and as of that time;

    (b) the performance of, or compliance with, all agreements, obligations and
       conditions contained in this Agreement that are required to be performed
       or complied with by ebix at or prior to the First Closing Date and all
       the approvals and consents necessary to complete the transactions
       described herein (including any consents of governmental or regulatory
       authorities) that are required to have been obtained by ebix at or prior
       to the First Closing Date having been obtained by ebix;

    (c) ebix shall have filed a "Notification Form: Listing of Additional
       Shares" with the Listing Qualifications department at the Nasdaq Stock
       Market, Inc.;

    (d) the delivery by ebix to BRiT of the items referred to in Section 3.2;

    (e) all consents, approvals and actions of, filings with and notices to any
       governmental or regulatory authority necessary to permit the Parties to
       perform their respective obligations

                                     B-1-17
<PAGE>
       under this Agreement and the other Transaction Agreements with respect to
       the transaction to be consummated at the First Closing Date shall have
       been duly obtained, made or given and shall be in full force and effect,
       and all terminations or expirations of waiting periods imposed by any
       governmental or regulatory authority necessary for consummation of the
       transactions contemplated by this Agreement and the other Transaction
       Agreements at or prior to the First Closing Date shall have occurred;

    (f) BRiT shall have received an undertaking from Robin Raina in the form of
       Exhibit H;

    (g) ebix shall have timely filed its Annual Report on Form 10-K for the year
       ended December 31, 2000 with the SEC in accordance with the rules under
       the Exchange Act; and

    (h) ebix shall have either (i) terminated the Stockholder Rights Agreement,
       dated March 23, 1998, between ebix and Chase Mellon Shareholder Services,
       LLC (the "Rights Plan") or (ii) amended the Rights Plan such that BRiT
       shall not at any time be deemed to be an "Acquiring Person" thereunder.

7.2   ebix's obligations to consummate at the First Closing are, unless waived
     by ebix, subject to the fulfillment of the following conditions:

    (a) the BRiT Warranties shall have been true and correct in all material
       respects at and as of the date hereof and shall be true in all material
       respects at and as of the time of the First Closing (except to the extent
       such warranties refer specifically to an earlier date) with the same
       force and effect as though made at and as of that time;

    (b) the performance of, or compliance with, all agreements, obligations and
       conditions contained in this Agreement that are required to be performed
       or complied with by BRiT at or prior to the First Closing Date and all
       the approvals and consents necessary to complete the transactions
       described herein (including any consents of governmental or regulatory
       authorities) have been obtained at or prior to the First Closing Date
       having been obtained by BRiT;

    (c) the delivery by BRiT to ebix of those items referred to in Section 3.2;
       and

    (d) all consents, approvals and actions of, filings with and notices to any
       governmental or regulatory authority necessary to permit the Parties to
       perform their respective obligations under this Agreement and the other
       Transaction Agreements with respect to the transaction to be consummated
       at the First Closing Date shall have been duly obtained, made or given
       and shall be in full force and effect, and all terminations or
       expirations of waiting periods imposed by any governmental or regulatory
       authority necessary for consummation of the transactions contemplated by
       this Agreement and the other Transaction Agreements at or prior to the
       First Closing Date shall have occurred.

8.  SECOND CLOSING CONDITIONS

8.1   BRiT's obligations to consummate the Second Closing are, unless waived by
     BRiT, subject to the fulfillment of the following conditions:

    (a) the ebix Warranties shall have been true and correct in all material
       respects at and as of the date hereof and shall be true in all material
       respects at and as of the time of the Second Closing (except to the
       extent such warranties refer specifically to an earlier date) with the
       same force and effect as though made at and as of that time;

    (b) the performance of, or compliance with, all agreements, obligations and
       conditions contained in this Agreement, and the Framework Agreement, if
       entered into between the Parties prior to the Second Closing Date, that
       are required to be performed or complied with by ebix at or

                                     B-1-18
<PAGE>
       prior to the Second Closing Date and all the approvals and consents
       necessary to complete the transactions described herein (including any
       consents of governmental or regulatory authorities and the affirmative
       vote by ebix stockholders in favor of the Approval Transactions) that are
       required have been obtained at or prior to the Second Closing Date having
       been obtained by ebix;

    (c) the delivery by ebix to BRiT of those items referred to in Section 3.3;

    (d) all consents, approvals and actions of, filings with and notices to any
       governmental or regulatory authority necessary to permit the Parties to
       perform their respective obligations under this Agreement and the other
       Transaction Agreements with respect to the transaction to be consummated
       at the Second Closing Date shall have been duly obtained, made or given
       and shall be in full force and effect, and all terminations or
       expirations of waiting periods imposed by any governmental or regulatory
       authority necessary for consummation of the transactions contemplated by
       this Agreement and the other Transaction Agreements at or prior to the
       Second Closing Date shall have occurred;

    (e) ebix shall have executed and delivered to BRiT the Framework Agreement;

    (f) the Common Stock shall have remained listed on the Nasdaq Smallcap
       Market; and

    (g) ebix shall have delivered to BRiT evidence reasonably satisfactory to
       BRiT as to Approval Transactions in accordance with Rule 4350 of the
       Nasdaq Marketplace Rules, the Exchange Act and Delaware law.

8.2   ebix's obligations to consummate the Second Closing are, unless waived by
     ebix, subject to the fulfillment of the following conditions:

    (a) the ebix Warranties shall have been true and correct in all material
       respects at and as of the date hereof and shall be true in all material
       respects at and as of the time of the Second Closing (except to the
       extent such warranties refer specifically to an earlier date) with the
       same force and effect as though made at and as of that time;

    (b) the performance of, or compliance with, all agreements, obligations and
       conditions contained in this Agreement and the other Transaction
       Agreements that are required to be performed or complied with by BRiT at
       or prior to the Second Closing Date and all the approvals and consents
       necessary to complete the transactions described herein (including any
       consents of governmental or regulatory authorities) that are required to
       have been obtained at or prior to the Second Closing Date) having been
       obtained by BRiT;

    (c) all consents, approvals and actions of, filings with and notices to any
       governmental or regulatory authority necessary to permit the Parties to
       perform their respective obligations under this Agreement and the other
       Transaction Agreements with respect to the transaction to be consummated
       at the Second Closing Date shall have been duly obtained, made or given
       and shall be in full force and effect, and all terminations or
       expirations of waiting periods imposed by any governmental or regulatory
       authority necessary for consummation of the transactions contemplated by
       this Agreement and the other Transaction Agreements at or prior to the
       Second Closing Date shall have occurred;

    (d) the delivery by BRiT to ebix of those items referred to in Section 3.3;
       and

    (e) the stockholders of ebix shall have approved the Approval Transactions.

                                     B-1-19
<PAGE>
9.  INDEMNIFICATION

9.1   INDEMNIFICATION.

    (a) Subject to paragraph (c) of this Section and the other Sections of this
       Article 9, ebix shall indemnify BRiT in respect of, and hold it harmless
       from and against, any and all Losses suffered, incurred or sustained by
       it or to which it becomes subject, resulting from any misrepresentation,
       breach of warranty or breach of any covenant or agreement on the part of
       ebix contained in this Agreement.

    (b) Subject to paragraph (c) of this Section and the other Sections of this
       Article 9, BRiT agrees to indemnify ebix in respect of, and hold it
       harmless from and against, any and all Losses suffered, incurred or
       sustained by it or to which it becomes subject, resulting from any
       misrepresentation, breach of warranty or breach of any covenant or
       agreement on the part of BRiT contained in this Agreement.

    (c) Notwithstanding anything to the contrary contained in this Agreement, no
       amounts of indemnity shall be payable as a result of any claim arising
       under paragraphs (a) or (b) of Section 9.01:

        (i) unless, until and then only to the extent that the Indemnified Party
            thereunder has suffered, incurred, sustained or become subject to
            Losses referred to in such paragraph in excess of $100,000 in the
            aggregate, but then only to the extent of any such excess up to a
            maximum aggregate indemnification pursuant to each of Section 9.01
            (a) or Section 9.01 (b) of $2,800,000 prior to consummation of the
            Second Closing, and, after consummation of the Second Closing, an
            additional $4,200,000, for an aggregate of $7,000,000 thereafter;

        (ii) with respect of any claim for indemnification thereunder, unless
             the Indemnified Party has given the Indemnifying Party a Claim
             Notice or Indemnity Notice, as applicable, with respect of such
             claim, setting forth in reasonable detail the specific facts and
             circumstances pertaining thereto, (y) as soon as practical
             following the time at which the Indemnified Party discovered or
             reasonably should have discovered such claim (except to the extent
             the Indemnifying Party is not prejudiced by any delay in the
             delivery of such notice) and (z) in any event prior to the
             applicable Cut-off Date; or

       (iii) with respect to any Loss as to which the Indemnified Party had a
             reasonable opportunity, but failed, in good faith to mitigate such
             Loss, including but not limited to its failure to use commercially
             reasonable efforts to recover under a policy of insurance or under
             a contractual right of set-off or indemnity.

9.2   METHOD OF ASSERTING CLAIMS. All claims for indemnification by any
     Indemnified Party under Section 9.01 will be asserted and resolved as
     follows.

    (a) In the event that any claim or demand in respect of which an
       Indemnifying Party might seek indemnity under Section 9.01 is asserted
       against or sought to be collected from such Indemnified Party by a person
       other than ebix, BRiT or any Affiliate of ebix or BRiT (a "THIRD PARTY
       CLAIM"), the Indemnified Party shall deliver a Claim Notice with
       reasonable promptness to the Indemnifying Party. The Indemnifying Party
       will notify the Indemnified Party as soon as practicable within the
       Dispute Period whether the Indemnifying Party disputes its liability to
       the Indemnified Party under Section 9.01 and whether the Indemnifying
       Party desires, at its sole cost and expense, to defend the Indemnified
       Party against such Third Party Claim.

        (i) If the Indemnifying Party notifies the Indemnified Party within the
            Dispute Period that the Indemnifying Party desires to defend the
            Indemnified Party with respect to the Third Party Claim pursuant to
            this Section 9.02(a), then the Indemnifying Party will have the

                                     B-1-20
<PAGE>
            right to defend, at the sole cost and expense of the Indemnifying
            Party, such Third Party Claim by all appropriate proceedings, which
            proceedings will be vigorously and diligently prosecuted by the
            Indemnifying Party to a final conclusion or will be settled at the
            discretion of the Indemnifying Party (with the consent of the
            Indemnified Party, which consent will be unreasonably withheld). The
            Indemnifying Party will have full control of such defense and
            proceedings, including (except as provided in the immediately
            preceding sentence) any settlement thereof; PROVIDED, HOWEVER, that
            the Indemnified Party may, at the sole cost and expense of the
            Indemnified Party, at any time prior to the Indemnifying Party's
            delivery of the notice referred to in the first sentence of this
            clause (i), file any motion, answer or other pleadings or take any
            other action that the Indemnified Party reasonably believes to be
            necessary or appropriate to protect its interests and not
            prejudicial to the Indemnifying Party (it being understood and
            agreed that, except as provided in clause (ii) below, if an
            Indemnified Party takes any such action that is prejudicial and
            causes a final adjudication that is adverse to the Indemnifying
            Party, the Indemnifying Party will be relieved of its obligations
            hereunder with respect to the portion of such Third Party Claim
            prejudiced by the Indemnified Party's action); and PROVIDED FURTHER
            THAT, if requested by the Indemnifying Party, the Indemnified Party
            will, at the sole cost and expense of the Indemnifying Party,
            cooperate with the Indemnifying Party and its counsel in contesting
            any Third Party Claim that the Indemnifying Party elects to contest,
            or, if appropriate and related to the Third Party Claim in question,
            in making any counterclaim against the Person asserting the Third
            Party Claim, or any cross-complaint against any Person (other than
            the Indemnified Party or any of its Affiliates). The Indemnified
            Party may participate in, but not control, any defense or settlement
            of any Third Party Claim controlled by the Indemnifying Party
            pursuant to this clause (i), and except as provided in the preceding
            sentence, the Indemnified Party will bear its own costs and expenses
            with respect to such participation. Notwithstanding the foregoing,
            the Indemnified Party may take over the control of the defense or
            settlement of a Third Party Claim at any time if it irrevocably
            waives its right to indemnity under this Article IX with respect to
            such Third Party Claim.

        (ii) If the Indemnifying Party fails to notify the Indemnified Party
             within the Dispute Period that the Indemnifying Party desires to
             defend the Third Party Claim pursuant to Section 9.02(a), or if the
             Indemnifying Party gives such notice but fails to prosecute
             vigorously and diligently or settle the Third Party Claim, or if
             the Indemnifying Party fails to give any notice whatsoever within
             the Dispute Period, then the Indemnified Party will have the right
             to defend, at the sole cost and expense of the Indemnifying Party,
             the Third Party Claim by all appropriate proceedings, which
             proceedings will be vigorously and diligently prosecuted by the
             Indemnified Party to a final conclusion or will be settled at the
             discretion of the Indemnified Party (with the consent of the
             Indemnifying Party, which consent will not be unreasonably
             withheld). The Indemnified Party will have full control of such
             defense and proceedings, including (except as provided in the
             immediately preceding sentence) any settlement thereof; provided,
             however, that if requested by the Indemnified Party, the
             Indemnifying Party will, at the sole cost and expense of the
             Indemnifying Party, cooperate with the Indemnified Party and its
             counsel in contesting any Third Party Claim which the Indemnified
             Party is contesting, or, if appropriate and related to the Third
             Party Claim in question, in making any counterclaim against the
             person asserting the Third Party Claim, or any cross-complaint
             against any person (other than the Indemnifying Party or any of its
             Affiliates). Notwithstanding the foregoing provisions of this
             clause (ii), if the Indemnifying Party has notified the Indemnified
             Party within the Dispute Period that the Indemnified Party disputes
             its liability hereunder to the Indemnified Party with respect to
             such Third Party Claim and if such dispute is

                                     B-1-21
<PAGE>
             resolved in favor of the Indemnifying Party in the manner provided
             in clause (iii) below, the Indemnifying Party will not be required
             to bear the costs and expenses of the Indemnified Party's defense
             pursuant to this clause (ii) or of the Indemnifying Party's
             participation therein at the Indemnified Party's request, and the
             Indemnified Party will reimburse the Indemnifying Party in full for
             all reasonable costs and expenses incurred by the Indemnifying
             Party in connection with such litigation. The Indemnifying Party
             may participate in, but not control, any defense or settlement
             controlled by the Indemnified Party pursuant to this clause (ii),
             and the Indemnifying Party will bear its own costs and expenses
             with respect to such participation.

       (iii) If the Indemnifying Party notifies the Indemnified Party that it
             does not dispute its liability to the Indemnified Party with
             respect to the Third Party Claim under Section 9.01 or fails to
             notify the Indemnified Party within the Dispute Period whether the
             Indemnifying Party disputes its liability to the Indemnified Party
             with respect to such Third Party Claim, the Loss in the amount
             specified in the Claim Notice will be conclusively deemed a
             liability of the Indemnifying Party under Section 9.01 and the
             Indemnifying Party shall pay the amount of such Loss to the
             Indemnified Party on demand. If the Indemnifying Party has timely
             disputed its liability with respect to such claim, the Indemnifying
             Party and the Indemnified Party will proceed in good faith to
             negotiate a resolution of such dispute, and if not resolved through
             negotiations within the Dispute Period, such dispute shall be
             resolved by litigation in a court of competent jurisdiction.

    (b) In the event any Indemnified Party should have a claim under
       Section 9.01 against the Indemnifying Party that does not involve a Third
       Party Claim, the Indemnified Party shall deliver an Indemnity Notice with
       reasonable promptness to the Indemnifying Party.

    (c) In the event of any claim for indemnity under Section 9.01(a) or (b),
       each of the Parties agrees to give the other Party reasonable access to
       its books, records and employees in connection with the matters for which
       indemnification is sought to the extent such Party reasonably deems
       necessary in connection with its rights and obligations under this
       Article 9.

9.3   EXCLUSIVITY. To the extent permitted by law, the indemnities set forth in
     this Article 9 shall be the exclusive remedies of BRiT and ebix for any
     misrepresentation, breach of warranty or breach of any covenant or
     agreement contained in this Agreement, and the parties shall not be
     entitled to a rescission of this Agreement or to any further
     indemnification rights or claims of any nature whatsoever in respect
     thereof, all of which the parties hereto hereby waive.

10  TERMINATION

10.1  TERMINATION. This Agreement may be terminated, and the transactions
     contemplated hereby may be abandoned: (a) at any time before the First
     Closing, by mutual written consent of the Parties; (b) at any time before
     the First Closing by either Party in the event that any order or law
     becomes effective restraining, enforcing or otherwise prohibiting or making
     illegal the consummation of any of the transactions contemplated by this
     Agreement or the other Transaction Agreements; (c) by ebix by giving
     written notice to BRiT at any time prior to the First Closing (i) in the
     event BRiT has breached any material representation, warranty or covenant
     contained in the Agreement in any material respect, ebix has notified BRiT
     of the breach, and the breach has continued without cure for a period of
     five business days after the notice of breach, or (ii) if the First Closing
     shall not have occurred on or before April 20, 2001 by reason of the
     failure of any condition precedent under 7.2 hereof (unless the failure
     results primarily from ebix itself breaching any representation, warranty
     or covenant contained in this Agreement); or (d) by BRiT by giving written
     notice to ebix at any time prior to the First

                                     B-1-22
<PAGE>
     Closing (i) in the event ebix has breached any material representation,
     warranty or covenant contained in the Agreement in any material respect,
     BRiT has notified ebix of the breach, and the breach has continued without
     cure for a period of five business days after the notice of breach, or
     (ii) if the First Closing shall not have occurred on or before April 20,
     2001 by reason of the failure of any condition precedent under 7.1 hereof
     (unless the failure results primarily from BRiT itself breaching any
     representation, warranty or covenant contained in this Agreement).

10.2  TERMINATION AFTER FIRST CLOSING. The rights and obligations pertaining to
     transactions contemplated by the Second Closing may be terminated and the
     transactions contemplated thereby may be abandoned: (a) at any time before
     the Second Closing, by mutual written consent of the Parties; (b) at any
     time before the Second Closing by either Party in the event that any order
     or law becomes effective prohibiting or making illegal the consummation of
     any of the transactions contemplated to be consummated at the Second
     Closing; (c) by ebix by giving written notice to BRiT at any time prior to
     the Second Closing (i) in the event BRiT has breached any material
     representation, warranty or covenant contained in the Agreement in any
     material respect, ebix has notified BRiT of the breach, and the breach has
     continued without cure for a period of five business days after the notice
     of breach, or (ii) if the Second Closing shall not have occurred on or
     before June 29, 2001 by reason of the failure of any condition precedent
     under 8.2 hereof (unless the failure results primarily from ebix itself
     breaching any representation, warranty or covenant contained in this
     Agreement); or (d) by BRiT by giving written notice to ebix at any time
     prior to the Second Closing (i) in the event ebix has breached any material
     representation, warranty or covenant contained in the Agreement in any
     material respect, BRiT has notified ebix of the breach, and the breach has
     continued without cure for a period of five business days after the notice
     of breach, or (ii) if the Second Closing shall not have occurred on or
     before June 29, 2001 by reason of the failure of any condition precedent
     under 8.1 hereof (unless the failure results primarily from BRiT itself
     breaching any representation, warranty or covenant contained in this
     Agreement).

10.3  EFFECT OF TERMINATION. If this Agreement is validly terminated pursuant to
     Section 10.1, this Agreement will forthwith become null and void and there
     will be no liability or obligation on the part of either Party, except as
     further provided in this Section 10.3 and except that the provisions
     relating to expenses in Section 11.1 and confidentiality in Section 6.2
     will continue to apply. Notwithstanding any other provisions of this
     Agreement to the contrary, (i) upon termination of this Agreement pursuant
     to Section 10.1(b) ebix will remain liable to BRiT for any breach of
     Section 6.9 of this Agreement by ebix existing at the time of such
     termination and BRiT will remain liable to ebix for any breach of
     Section 6.9 of this Agreement by BRiT existing at the time of such
     termination and (ii) upon termination of this Agreement pursuant to
     Section 10.1(c) or (d), the Parties will remain liable for any breach of
     this Agreement giving rise to such termination. If the rights and
     obligations pertaining to transactions contemplated by the Second Closing
     are validly terminated pursuant to Section 10.2, such rights and
     obligations will forthwith become null and void and there will be no
     liability or obligation related thereto on the part of either Party except
     that, in the event of such termination pursuant to Sections 10.2 (c) or
     (d), the Parties will remain liable for any breach of this Agreement giving
     rise to such termination.

11. MISCELLANEOUS

11.1  Except as otherwise expressly provided in this Agreement, each Party shall
     pay its own costs and expenses incurred in connection with the preparation,
     negotiation and settlement of this Agreement, whether or not the
     transactions contemplated hereby are consummated. Notwithstanding the
     foregoing, if ebix terminates the Agreement pursuant to Section 10.1(c) or

                                     B-1-23
<PAGE>
     if BRiT terminates the Agreement pursuant to Section 10.01(d), the
     non-terminating Party shall pay to the terminating Party all out-of-pocket
     costs and expenses incurred in by the terminating Party in connection with
     the negotiation, execution and delivery of this Agreement and the other
     Transaction Agreements and in furtherance of the transactions contemplated
     hereby and thereby.

11.2  All fees and duties (if any) relating to the issue of the Shares shall be
     borne by ebix. Capital duty and all other fees and duties (if any) relating
     to the transfer of the IBS Shares shall be borne by BRiT.

11.3  Any notice, demand or other communication given or made under this
     Agreement shall be in writing and delivered or sent to the relevant Party
     at its address or facsimile number set out below (or such other address or
     facsimile number as the addressee has by five days' prior written notice
     specified to the other Party):

<TABLE>
<CAPTION>

    <S>             <C>
    To BRiT:        BRiT Insurance Holdings plc
                    55 Bishopsgate
                    London EC2N 3AS
                    United Kingdom
                    Fax: +44 (20) 7984 8525
                    Attention: Peter Goddard

    Copies to:      Dorsey & Whitney
                    21 Wilson Street
                    London EC2M 2TD
                    United Kingdom
                    Fax: +44 (20) 7588 0555
                    Attention: George Hagerty, Esq.

    To ebix:        ebix.com, Inc.
                    Five Concourse Parkway
                    Suite 3200
                    Atlanta, Georgia 30328
                    Fax: +1 (678) 281-2019
                    Attention: Robin Raina

    Copies to:      Sonnenschein Nath & Rosenthal
                    Suite 8000 Sears Tower
                    233 South Wacker Drive
                    Fax: +1 (312) 876 7934
                    Attention: Dennis Newman, Esq.
</TABLE>

    Any notice, demand or other communication so addressed to the relevant Party
    shall be deemed to have been delivered: (a) if given or made by letter, when
    actually delivered to the relevant address; and (b) if given or made by
    facsimile, on the first business day following transmission if telephonic
    advice of such transmission is given on such first business day and a
    machine-printed confirmation of receipt is received by the sender.

11.4  Each Party undertakes to the other Party to execute or procure to be
     executed all such documents and to do or procure to be done all such other
     acts and things as may be reasonable and necessary to give both Parties the
     full benefit of this Agreement.

11.5  This Agreement shall be binding on and inure solely to the benefit of ebix
     and BRiT and their respective successors and assigns. Neither Party shall
     assign any of its rights hereunder without the prior consent of the other
     Party, which consent shall not be unreasonably withheld.

                                     B-1-24
<PAGE>
11.6  The exercise of or failure to exercise any right or remedy of any breach
     of this Agreement shall not, except as provided herein, constitute a waiver
     by such Party of any other right or remedy it may have in respect of that
     breach.

11.7  Except as provided in Section 9.03, any right or remedy conferred by this
     Agreement on any Party for breach of this Agreement by the other Party
     (including without limitation the breach of any representations and
     warranties) shall be in addition and without prejudice to all other rights
     and remedies available to it in respect of that breach.

11.8  This Agreement constitutes the entire agreement between the Parties with
     respect to its subject matter (neither Party having relied on any
     representation or warranty made by the other Party which is not contained
     in this Agreement) and no variation of this Agreement shall be effective
     unless made in writing and signed by all of the Parties.

11.9  This Agreement supersedes all and any previous agreements, arrangements or
     understanding between the Parties relating to the matters referred to in
     this Agreement and all such previous agreements, arrangements or
     understanding (if any) shall cease to have any effect from the date hereof.

11.10 If at any time any provision of this Agreement is or becomes illegal, void
     or unenforceable in any respect, the remaining provisions hereof shall in
     no way be affected or impaired thereby.

11.11 The representations and warranties of the Parties contained in the
     Agreement will survive the respective Closings until June 1, 2002, except
     with respect to the representations and warranties contained in Sections
     4.2, 4.4, 4.5, 4.6, 5.2, 5.3, 5.4, 5.5 and 5.6, which shall survive
     indefinitely.

11.12 This Agreement may be executed in any number of counterparts, each of
     which will be deemed to be an original, but all of which together will
     constitute one and the same document.

12. GOVERNING LAW

12.1  This Agreement shall be governed by and construed in accordance with the
     laws of the state of New York, without reference to its conflict of laws
     provisions.

                                     B-1-25
<PAGE>
    IN WITNESS WHEREOF, this Agreement has been executed and delivered by the
duly authorized officer of each party hereto as of the date first above written.

BRIT INSURANCE HOLDINGS PLC
By:
----------------------------
Name: M. Scales
Title:  Director
By:
----------------------------
Name: A. Holland
Title:  Director
EBIX.COM, INC.
By:
----------------------------
Name: Richard J. Baum
Title:  Senior Vice President--Finance & Administration,
     Chief Financial Officer and Secretary

                                     B-1-26

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