Symbility Solutions (TSX: V.SY, Stock Forum) continued to cement their global footprint as a provider of cloud-based and smartphone/tablet-enabled claims technology when the company announced today that it signed a Master Services Agreement with a top insurance provider for Symbility's complete set of cloud-based products and services across the insurance company's global locations.
According to the news release, the agreement included the provision of Claims Connect®, Mobile Claims®, Desk Adjuster™ and Video Connect™ products to enhance and improve their claim management and settlement processes.
Company CEO, James Swayze, commented on the landmark contract, “It gives us great pleasure to announce our contract with a major brand in the global insurance arena.”
He went on to explain, “We have been dedicated to expanding our international footprint and capabilities over the past two years to serve the needs of multinational organizations. We now have five hosting facilities globally with two more planned in the first quarter of 2015, which will give us coverage on five continents.”
Then added, “Our products offer over a dozen language selections which can be changed on the fly to accommodate the user, as well as having every applicable currency in the regions we operate since our technology is built using a single code base.”
And finally summed up, “Our platform will not only enable our new customer to view their global claims performance through a consistent lens but they will also have the agility and configurability to expand into new regions making us a true worldwide partner and supplier to assist our customer's growth.”
Symbility Solutions was in the news recently when the Toronto-based company announced signing a contract with Belgian insurer, Argenta, at the end of November.
Shares rose 16.67% on the news to $0.42 per share.
Currently there are 209.9m outstanding shares with a market cap of $88.2 million.