Users report same-day payment on claims using integrated product solution
TORONTO, ONTARIO–(February 10, 2015) Symbility Solutions and VIP Software today announce a strategic partnership that revolutionizes claims settlement for the property and casualty insurance industry. Symbility Claims Connect® from Symbility Solutions and Bill Audit Pro™ from VIP Software now integrate seamlessly to enable automated claims workflow — from estimating to invoicing — with users receiving notification of payment in as quickly as the same day a claim is generated.
“By seamlessly integrating VIP Software’s Bill Audit Pro with our claims estimating technologies, customers now have the ability to automate estimating, billing and auditing into one simple process. Insurance carriers can close claims quickly, with more accuracy and less manual labor, while independent adjusters get paid faster,” commented James Swayze, CEO, Symbility Solutions. “We look forward to offering our shared customers innovative solutions that will dramatically increase the efficiency, processing, communication and claims settlement cycle, which translates into cost savings to carriers.”
Upon independent adjusters (IAs) creating estimates in Symbility Claims Connect, an invoice is submitted directly to Bill Audit Pro, where it’s audited through a pre-customized rules engine. The seamless process expedites the cycle time to IAs being paid and insurers closing pending claims, in effect reducing their loss ratio. Reporting capabilities enable insurers to manage and evaluate vendor relationships; and give IAs a tool to demonstrate their business performance.
“VIP Software’s partnership with Symbility drives such high value to our shared customer base of P&C insurers and independent adjusters, with users reporting payment in less than a day. Of most significance to insurers, this innovative solution lets them demonstrate scalability in CAT situations, thereby more easily obtaining reinsurance,” said James Makris, CEO, VIP Software. “This partnership makes business sense as our companies share a scalable yet controlled growth strategy with a commitment to client retention.”
Learn more about Symbility Claims Connect at www.symbilitysolutions.com and Bill Audit Pro at www.vipsoftware.com.
About VIP Software
VIP Software is a SaaS company with products that service the property and casualty insurance industry by enabling secure and seamless claims and policy workflow with third-party contributors through a single, collaborative platform. VIP Software’s SaaS offering is differentiated by: a competitively-unique, customer-driven pricing model that encourages growth in written premiums; regulatory-compliant hosting through a world-class provider of cloud and managed infrastructure; and uninterrupted 24/7 service and support that insure business continuity and scalability during CAT situations. For more information visit vipsoftware.com.
About Symbility Solutions Inc.
Symbility Solutions® (TSX.V: SY) is a global provider of cloud-based and smartphone/tablet-enabled claims technology for the property and health insurance industries. Designed to be flexible and easy-to-use, Symbility Solutions’ two product suites, Symbility Property™ and Symbility Health™, empower insurers to collaborate across the entire claims processing workflow and reduce costs while delivering a market-leading claims experience. For more information please visit www.symbilitysolutions.com or follow Symbility on Twitter at @symbility and on LinkedIn at symbility-solutions.
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