TORONTO, ONTARIO--(Marketwired - April 2, 2014) - Symbility Solutions Inc. (TSX VENTURE:SY), a global software company dedicated to developing cloud-based applications for the property and health insurance industries, is pleased to announce the signing of twenty-one domestic and international customer contracts in the first quarter of 2014.
These agreements represent new business for Symbility in Canada, USA, UK and Germany, including a number of different insurers, independent adjusting firms, contractors and other P&C supply chain vendors for the Property Division, and new third-party administrators for Symbility Health. The contracts range in duration from one to five years and the combined annual net new contract value (ACV)1 of these agreements is $1.3 million, with a total contract value (TCV)2 of $4.5 million.
"We are very encouraged by the momentum we are experiencing in our sales efforts and the fact that these accounts include insurance carriers and every facet of the supply chain in multiple countries," stated James Swayze, CEO, Symbility Solutions. "Considering the new products we have launched earlier this year and the growth in our pipeline of opportunities, I am very confident in our ability to convert sales opportunities into new contracts at an increasing rate to fuel our revenue growth into next year."