Insurance software specialist Ebix has acquired Telstra's general insurance technology operation, Telstra eBusiness Services - which includes transaction platform Sunrise Exchange - for $50 million.

Ebix has renamed the business EbixExchange Australia. It's understood Telstra eBusiness Services CEO Brendan Tobin and several other senior executives were not offered positions in the new company.

The core product of the business is Sunrise Exchange, which connects insurers and brokers to process insurance policies online.

MD Leon d'Apice says Ebix plans to extend the services to include online claims, settlements and negotiated risk facilities, but will retain existing Sunrise brands.