Automated Benefits Corp.
TSX VENTURE : AUT

Automated Benefits Corp.

April 19, 2011 08:02 ET

Automated Benefits Announces Contract Renewal With ESI Canada

TORONTO, ONTARIO--(Marketwire - April 19, 2011) - Automated Benefits Inc., a wholly-owned subsidiary of Automated Benefits Corp. (TSX VENTURE:AUT), is proud to announce the renewal of a five-year contract with ESI Canada ("ESI"), a wholly owned subsidiary of Express Scripts, Inc., a Fortune 100 company.

Express Scripts, headquartered in St. Louis, Missouri, is one of America's largest Pharmacy Benefit Managers ("PBM"), providing pharmacy benefits for millions of consumers nationwide through employers, government, union and health plans.

ESI provides Automated Benefits Inc. with PBM services which enable employees to use electronic drug cards at the pharmacy to pay for drug claims under their group benefits plan. These claims are then processed through Automated Benefits Inc.'s adjudication software ("Adjudicare") along with other non-electronic claims to ensure seamless administration of the employee's health and dental plan by Third Party Administrators ("TPAs").

"We are pleased that Automated Benefits Inc. has chosen to continue to work with ESI", says Mark Murphy, Vice President Finance, Clinical & Customer Services of ESI Canada. "We are very proud of our relationship forged over the past five years and look forward to the continued success of our partnership."

Richard Adair, Chief Financial Officer/Chief Operating Officer of Automated Benefits Inc., said, "In the fall of 2010, we undertook an extensive evaluation of the Canadian market by inviting a series of vendors to participate in a formal Request for Proposal process to provide PBM services to Automated Benefits Inc. After completing our review, we were pleased to find that ESI best supports our value proposition of giving TPAs control of the claims adjudication process at a price which enables our partners to remain competitive."

For more information on the Adjudicare product, visit www.adjudicare.com or call 1.866.647.1147.

About Automated Benefits Corp.

Automated Benefits Corp., headquartered in Toronto, Canada, is a software company dedicated to developing applications for the insurance industry in North America and Europe. The Corporation currently has two platforms: Symbility and Adjudicare.

Symbility automates property insurance claims through its three complementary software components which afford users the mobility, speed and control needed to efficiently and quickly move onto the next claim. Symbility Claims Connect is the collaborative workflow management tool that gives every claim participant real-time access to the claims they are working on. Symbility Inside Adjuster is an integrated application designed to streamline the first notice of loss process which leads to faster settlement of claims. Symbility Mobile Claims software is an estimating tool that increases speed, efficiency and accuracy by allowing on-site claims processing.

Adjudicare is web-based software solution which enables insurance brokers and third party administrators across Canada to adjudicate health and dental claims on behalf of their clients. Adjudicare's software accommodates flexible plan designs and real-time payment of claims which allows our partners to provide a high level of service while managing the costs of these group benefit plans.

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Contact Information

  • Automated Benefits Inc.
    Richard D. Adair
    Chief Financial Officer/Chief Operating Officer
    (416) 359-9339, ext. 1002
    radair@adjudicare.com

    Automated Benefits Inc.
    James R. Swayze
    Chief Executive Officer
    (416) 359-9339, ext. 1003
    jswayze@adjudicare.com