Symbility’s first US-based client extends their contract for an additional five year period.
TORONTO, ONTARIO–(Marketwire – March 17, 2008) – Symbility Solutions Inc., a wholly owned subsidiary of Automated Benefits Corp. (TSX VENTURE:AUT), is pleased to announce the extension of their existing contract with Farmers Mutual of Nebraska (FMNE) for an additional five year period.
FMNE has been an active user of the mobile claims software solution for over two years and has experienced a dramatic increase in adjuster efficiency due to the savings in time and energy that the software affords.
“We are extremely pleased to extend the contract of Farmers Mutual of Nebraska for a variety of reasons. First and foremost, continuing this contract confirms that our clients are benefiting from our product and are committed to the technology that we provide,” states Boris Znebel, President of Symbility Solutions. “With this contract we will also see minimum guaranteed revenue of more than $750,000 over the course of the five years, based on FMNE’s current usage of the system.”
Farmers Mutual of Nebraska, of Lincoln, Nebraska, was founded in 1891. FMNE is a property and casualty insurer, focusing on home, automobile and farm coverage for their clients. Having built their business and reputation on offering prompt, fair and quality claims service, FMNE has become one of the 100 largest mutual companies in the United States.
“We’re very pleased with what we’ve been able to accomplish with Symbility’s mobile claims software,” says John Fenton, Vice President of Claims for Farmers Mutual. “Our commitment to Symbility is ongoing and this renewal represents our belief that both Symbility and its technology represent the future in mobile claims.”
For more information on Symbility Solutions, visit www.symbilitysolutions.com or call 1.866.SYMBILITY.
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, Automated Benefits Inc. and Symbility Solutions Inc.
Symbility Solutions Inc. is in the business of automating insurance claims. Its award-winning mobile claims solutions are designed to increase the speed and accuracy of damage claims processing by allowing claims adjusters, carriers, and restoration contractors to process claims on-site, resulting in increased customer satisfaction levels. Handwritten notes and post-inspection data entry are eliminated. Complete mobility provides the means to access key information on location and instantly settle claims up to three times faster and with greater accuracy, thereby reducing adjusting expenses and lowering indemnity.
Automated Benefits Inc. provides a software solution for the adjudication of health and dental claims. This software adjudicates claims in real time, providing clients with the highest level of flexibility available along with complete disclosure on the plan’s financial performance. Autoben enables their clients to provide an additional level of value-added service in a very cost effective manner. The Autoben software supports the adjudication of health and dental claims through local insurance brokers for over 35,000 employees across Canada.
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Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Automated Benefits Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Automated Benefits Corp.
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