Autoben announces the release of version 2.16 and the issuance of additional common shares
TORONTO, ONTARIO–(Marketwire – Feb. 25, 2008) – Automated Benefits Inc. (AUTOBEN), a wholly owned subsidiary of Automated Benefits Corp. (TSX VENTURE:AUT), is proud to announce the release of version 2.16 of the Autoben software solution.
“With the introduction of these new features, Autoben is moving into a bigger arena,” states John Jackson, President of Automated Benefits. “The improved capabilities of our software will give Autoben the same functionality as larger insurance companies. It will allow our clients to add larger volumes of business to the software, increasing the number of certificates, users and claims that our software handles.”
Recent improvements to the software include:
– Multiple dental procedures may now be entered at one time.
– Weekly Indemnity benefit claims processing is now offered.
– Coordination of Benefits (COB) functionality now includes the ability to track second payor status.
– Lagged Fee Guide functionality allows division level management, for terms up to five years.
“Every improvement we make to our software is driven by market demand,” cites John Jackson. “Our intent is to grow our clientele, increase our volumes on the software and maintain our position as the market leader in claims adjudication software.”
Additionally, Automated Benefits Corp. also announces that it issued 189,476 Common Shares with a deemed value of $0.19 per share for an aggregate value of $36,000 to the independent directors of Automated Benefits Corp. for services provided to the Corporation for 2006 and 2007. Each independent director receives $5,000 per annum, and an additional $1,500 is payable to the chairman of each of the Compensation Committee and the Audit Committee of the Corporation. The issuance of the 189,476 Common Shares to the directors was approved by the TSX Venture Exchange on February 20, 2008 and the shares were issued on February 22, 2008.
For more information on AUTOBEN, visit. www.autoben.com or call 1.877.944.7100.
About Automated Benefits Corp.
Automated Benefits Corp. (www.autoben.com), headquartered in Toronto, Ontario, is a software company dedicated to developing software applications for the insurance industry. The corporation currently has two subsidiaries, Automated Benefits Inc. and Symbility Solutions Inc.
AUTOBEN 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.