Symbility Solutions Ranks on Deloitte's 2012 Technology Fast 500(TM) List of Fastest Growing Companies in North America
(Marketwire Via Acquire Media NewsEdge) TORONTO, ONTARIO -- (Marketwire) -- 11/21/12 --
Symbility Solutions Inc.® (TSX VENTURE: SY), provider of cloud-based claims technology using the most comprehensive data for the property and casualty insurance industry, today announced for the first time in the company's history, it has been listed on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
"As the insurance industry shifts its focus toward operational efficiency, Symbility's products are gaining traction for their ease of data collection and the significant improvements to our customers workflow which is fueling our growth," states James Swayze, Chief Executive Officer, Symbility Solutions Inc. "Our addition to the Fast 500 is a testament to the effort of our growing team and the service levels we provide to our customers. We are confident that this momentum will continue for Symbility and we will be a part of this esteemed group for many years to come."
"The 2012 Technology Fast 500™ winners are true leaders who leverage their entrepreneurship and technological innovation to achieve strong growth," said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Their commitment and leadership continue to transform the technology sector."
About Deloitte's 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies - both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Symbility Solutions Inc.
Symbility Solutions (TSX VENTURE: SY) is a progressive software company dedicated to developing applications for the insurance industry. The organization currently has two product family brands: Symbility® and Adjudicare®.
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.
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.
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Symbility Solutions Inc.
Lucy De Oliveira
(416) 359-9339, ext. 1007
Source: Symbility Solutions Inc.
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