Symbility Solutions (TSX-V:SY, StockForum), Toronto-based provider of cloud-based and smartphone/tablet-enabled claims technology for the property and casualty and health sectors, announced today that the company had signed a definitive agreement with Canadian Benefit Professionals (“CBP”) for providing Symbility Health's Adjudicare Platform.
Symbility Health's Mobile Claims application, Adjudicare(R), is expected to service CBP's network of over 200 brokers in seven provinces while optimizing the claims process by operating in real time.
According to the news release, CBP brokers will have greater efficacy in client information management with adaptable and broad plan designs.
VP Group Benefits, Canadian Benefit Professionals, Sheila King, commented on the achievement, “Symbility Health's best-of-breed adjudication platform will enable us to achieve this goal through its versatility and multifaceted services.”
King continued, “We are especially excited to offer our clients the convenience of online submission through the use of the Mobile Claims application.”
Richard Adair, Symbility president and COO, added, “Our advanced adjudication platform and mobile technology solutions will offer Canadian Benefit Professionals Inc. the ideal toolkit to provide a wider range of health benefits services to the communities they serve.”
He went on, “Additionally, Canadian Benefit Professionals Inc. will be able to minimize manual intervention and any potential errors in claims processing thanks to our ground-breaking Mobile Claims application.”
Then concluded, “It is my pleasure to welcome Canadian Benefit Professionals Inc. to our network.”
Symbility was in the news recently when the company signed a contract with CodeBlue.
Shares rose 9.23% throughout the day to $0.355 per share due to the news.
Currently there are 208.5m outstanding shares with a market cap of $74.0 million.