TORONTO, ONTARIO–(March 3, 2013) – Adjudicare®, a division of Symbility Solutions Inc.® (TSX VENTURE:SY)(OTCQX:ATBEF), is pleased to announce that the Third Party Administrators’ Association of Canada (TPAAC) has created a new Provisional Membership category which will be of benefit for our network of Third Party Administrators (TPAs) and other, generally smaller, TPAs.
TPAAC is a non-profit association, which includes some of the largest Third Party Administrators in Canada, and represents the interests of its members to the insurance industry and the various Provincial and Federal Government regulatory bodies. TPAAC mission is to create a financially strong Third Party Administration industry and to establish guidelines and uniform standards required to preserve the integrity of the industry and protect its consumers.
“One of our strategic objectives is to promote the maintenance and improvement of the qualifications and standards of the TPA industry in Canada,” states Mike McClenahan, President of TPAAC. “As a technology provider, Adjudicare is facilitating new entrants into the TPA market and both our organizations have a mutual desire to ensure that these new and existing partners follow best practices, growing not only their business but ensuring the future of the industry.”
“We are pleased to be aligned with an organization of TPAAC’s caliber and to have worked with them to create this new membership level for our valued customers to participate in. As members of TPAAC, our partners will be able to stay ahead of regulatory and taxation changes. TPAAC members also have access to E&O and bond coverage that protects them while administering health and dental claims,” states Richard Adair, President of Adjudicare. “This new association with TPAAC shows our deep commitment to bringing thought leadership and innovative solutions to the interest our clients.”
About Symbility Solutions Inc.
Symbility Solutions (TSX VENTURE:SY)(OTCQX:ATBEF) is a global software company dedicated to developing applications for the insurance industry. The organization currently has two product family brands: Adjudicare® and Symbility®.
Adjudicare is an advanced, practical web-based software solution used by a network of Employee Benefits Brokers and Third-Party Administrator partners across Canada in the adjudication of health and dental claims. Adjudicare’s rules-based engine and leading-edge features ensure that claims are precisely adjudicated and paid in real-time, giving our partners’ customers optimum flexibility, along with transparent disclosure on the benefit plan’s financial performance.
The Symbility platform is a cutting-edge, easy-to-use, cloud-based claims processing and estimating technology that optimizes claims performance for the Property & Casualty insurance industry. Relying on the most extensive and defendable property cost data developed by Marshall & Swift/Boeckh (“MSB”), our collaborative workflow management, mobile estimating, claims triage solutions and analytical services allow insurers to reduce costs while delivering a market-leading claims experience. Symbility Claims solutions, used in conjunction with MSB’s Underwriting Solutions, means property insurers now have a dynamic, market-driven enterprise solution. Providing a virtual feedback loop between claims and underwriting systems, this enterprise solution allows insurers to manage property risks more proactively and effectively.
All trade names are the property of their respective owners.