TORONTO, ONTARIO–(Marketwire – June 23, 2009) – Automated Benefits Corp. (the “Corporation”) (TSX VENTURE:AUT) is pleased to announce the appointment of Richard Adair to executive vice president of Symbility Solutions Inc. in addition to his role as chief financial officer and chief operating officer of Automated Benefits Corp. In his role as EVP of Symbility, Mr. Adair will focus on coordinating activities with Symbility’s partner in the United Kingdom, Innovation Group plc.
As Symbility and Innovation Group continue to expand their partnership outside of North America, there was a recognized need to focus additional resources on the emerging European market. The Corporation appointed Mr. Adair to spearhead these efforts and concentrate on new client acquisition and product development for Europe, beginning in the UK market. Commensurate with his appointment as executive vice president, Automated Benefits Corp. granted Mr. Adair 500,000 stock options on June 11, 2009, vesting in three equal tranches with one-third vesting immediately, one-third vesting in 12 months, and one-third vesting in 24 months, at an exercise price of $0.185.
“With the increased growth we are experiencing through our Innovation Group partnership in Europe, it was time to dedicate some senior resources to the effort not only as a further commitment to the partnership but to show the confidence that we have in the market,” states James Swayze, CEO of Symbility Solutions Inc. “Richard’s operational strengths will lend tremendous value to the partnership by having him on the ground in the UK for a period each month while helping augment the Innovation Group sales effort.”
For more information on Automated Benefits Corp., visit www.automatedbenefits.com.
About Automated Benefits Corp.
Automated Benefits Corp., 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, based in Toronto, Ontario, automates property insurance claims through its two complementary components. Its award-winning mobile claims solution is an estimating tool that increases speed, efficiency and accuracy by allowing on-site claims processing. Symbility.NET is the collaborative workflow management tool that gives every claim participant real-time access to the claims they are working on. The Symbility solution gives users the mobility, speed and control they need to effectively and quickly move onto their next claim.
Automated Benefits Inc. provides the Adjudicare 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. Automated Benefits Inc. enables their clients to provide an additional level of value-added service in a very cost effective manner. The Adjudicare software supports the adjudication of health and dental claims through local insurance brokers across Canada.
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