Pilot Companies Represent 100,000 Claims Per Year
WATERLOO, Ontario, Jan. 13 2006 — Automated Benefits Corp. (TSX Venture: AUT) is pleased to announce that it’s wholly owned subsidiary, Symbility Solutions Inc. (“Symbility”), has begun software pilot programs with two U.S.-based insurance carriers. These two companies process in aggregate approximately 100,000 claims per year.
The pilot programs are expected to be completed prior to the end of Q1 and are being carried out in the mid-west and western United States. They include training of claims adjustors and independent contractors who will interact with the Symbility mobile claims system. The advanced property claims estimation system incorporates hand-held, pen-based computers transmitting wirelessly over the Symbility.net communication hub.
“With over 15 million claims per annum, the demand in the U.S. for a proven mobile claims estimation solution appears very strong and we believe is a tremendous opportunity for Symbility,” said James Swayze, CEO of Automated Benefits and Symbility. “Symbility has successfully converted all previous insurance company pilots into five-year contracts and will continue to work effectively with new potential U.S. insurance partners to achieve long term contracts.”
Symbility recently established a new U.S. sales team to prepare for their expansion into the market and joined the Microsoft Insurance Value Chain (IVC) partner program.
About Automated Benefits Corp. and Symbility Solutions
Automated Benefits Corp. (www.autoben.com), headquartered in Toronto, Ontario, is a software company dedicated to developing applications for the insurance industry. The corporation currently has two subsidiaries, Autoben and Symbility.
Symbility Solutions (www.symbilitysolutions.com) has developed a mobile claims system focusing principally on residential and commercial property claims estimation for use by insurance company adjusters and independent contractors. Symbility has offices in Waterloo, Ontario and Montreal, Quebec. Autoben is focused on the employee benefit segment of the life insurance industry. Located in Edmonton, Alberta, Autoben provides claims management software for health and dental plans in addition to insurance products for employer groups. The proprietary software of Autoben, ABI, assists in reducing the cost of employee benefits programs by allowing local adjudication and administration to over 23,000 employees across Canada.