TORONTO, ONTARIO--(Marketwired - May 28, 2013) - Symbility Solutions Inc.® (TSX VENTURE:SY)(OTCQX:ATBEF), in collaboration with Marshall & Swift/Boeckh (MSB), have signed an agreement to cooperate in the development of building next-generation, cloud-based applications to serve the property and preservation estimating industry.
As part of this agreement, Symbility will leverage its agile development capabilities and build on their expertise in creating leading-edge, cloud-based claims estimating technology, while influenced by MSB's deep understanding and knowledge of the property restoration and real estate industry. This market-driven property and preservation estimating solution will deliver enhanced features that streamline workflow management and facilitate effective collaboration between field service companies, contractors, and real estate asset owners.
"Leveraging Symbility's powerful and flexible software for repair estimating creates a unique opportunity to deliver MSB's industry leading data into the property and preservation workflow," said Steven Brewer, Senior Vice President, Product Strategy, Marshall & Swift/Boeckh. "Together, we will deliver an end-to-end workflow solution for the major participants in property and preservation which will automate manual processes, validate repair cost estimates and create new ways to collaborate."
"Symbility initially joined forces with MSB in an effort to create a best-of-breed solution for the property claims industry by combining our workflow and property estimating technologies with MSB's expertise in cost data," stated Richard Adair, President and COO, Symbility Solutions. "Today, we are very proud to deliver on the promise to expand outside of the insurance vertical into the property and preservation industry. We look forward to taking advantage of our synergies and continue to provide our users with innovative, cloud-based claims estimating solutions."
About Marshall & Swift/Boeckh (MSB)
Marshall & Swift/Boeckh (MSB), a Decision Insight Information Group™ company, is the leading provider of building cost information, residential and commercial analytics solutions and book of business management services for the property insurance companies, financial services organizations and government entities. MSB offers the industry's most extensive and validated underwriting and claims property data. Throughout eight decades of experience, MSB has compiled a strong track record of consistently developing innovative property solutions, analyzing their clients' operations and providing them with the assistance needed to dramatically improve their business results. This track record continues today as they serve as the hub for all of their clients' property needs and work tirelessly to help them maximize their profitability and achieve a competitive advantage.
About Symbility Solutions Inc.
Symbility Solutions (TSX VENTURE:SY)(OTCQX:ATBEF) is a global software company dedicated to developing applications for the insurance industry. The organization currently has two product family brands: Symbility ® and Adjudicare ® .
The Symbility platform is a leading-edge, easy-to-use, cloud-based claims processing and estimating technology that optimizes claims performance for the Property & Casualty insurance industry. Relying on the most extensive and defendable property cost data developed by Marshall & Swift/Boeckh ("MSB"), our collaborative workflow management, mobile estimating, claims triage solutions and analytical services allow insurers to reduce costs while delivering a market-leading claims experience. Symbility Claims solutions, used in conjunction with MSB's Underwriting Solutions, means property insurers now have a dynamic, market-driven enterprise solution. Providing a virtual feedback loop between claims and underwriting systems, this enterprise solution allows insurers to manage property risks more proactively and effectively. Symbility Mobile Claims is now available as a free Android ™, iPad ® and iPhone ® application.
Adjudicare is an advanced, practical cloud-based software solution used by a network of Employee Benefits Brokers, Third-Party Administrator partners, plan members and plan sponsors across Canada in the adjudication of health and dental claims. Adjudicare's rules-based engine and leading-edge features ensure that claims are precisely adjudicated and paid in real-time, giving our partners' customers optimum flexibility, along with transparent disclosure on the benefit plan's financial performance. Member and administrator portals, as well as Adjudicare's centralized database, are all available on the same cloud-based platform and can be accessed seamlessly anytime by any user. Adjudicare UnionPro is the only web-based Hour Banking product to provide unions a worry-free solution to track their members' hour banking, benefit plan eligibility, and contribution data.
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