Symbility Solutions Inc.

Symbility Solutions Inc.

October 04, 2012 17:00 ET

Symbility Expands Sales Leadership Team To Support Strategic Growth

TORONTO, ONTARIO--(Marketwire - Oct. 4, 2012) - 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 the addition of John Burega, as the company's Senior Vice President, Global Sales & Marketing and the promotion of Jeff Brinkman, to Vice President, US Sales.

Mr. Burega will be responsible for driving the company's sales initiatives and implementing Symbility's long-term strategic business plan internationally, including expansion into new geographic markets. His duties also include focusing the worldwide marketing efforts to ensure consistent and strategic alignment of the Symbility brand. With over 20 years of experience in the Technology and IT Services industry, he most recently co-founded WOBILO Inc., a global technology provider of social games focused on the lottery and charity marketplace. Prior to this, Mr. Burega held the position of Vice President and General Manager for Compuware for over a decade where he was instrumental in building multiple business units for the corporation and managed operations in several jurisdictions including Canada, USA, and Europe.

Mr. Brinkman will oversee sales and business development efforts for Symbility in the USA. His duties also include building and maintaining relationships between major partners and key industry professionals in order to develop new business prospects. He was a key contributor in the acquisition of Marshall & Swift/Boeckh ("MSB") claims division, effectively combining the two sales units. Prior to Symbility, Mr. Brinkman worked for Servpro Industries as the Senior Key Accounts Manager, leading a team responsible for Servpro's largest insurance company accounts. In May of this year, Mr. Brinkman was elected the inaugural Chairman of the Property Industry Conference ("PIC"), a forum created to foster collaboration between various segments of the property insurance industry.

"We are very focused on building additional resources to our sales and marketing efforts to capitalize on our current momentum," states James Swayze, CEO, Symbility Solutions Inc. "John Burega brings tremendous depth to our global operations and comes highly recommended by our board of directors. Jeff Brinkman has earned an expanded role in our largest market because of the success he has achieved and the respect he has gained with our customers, prospects, and peer organizations."

Commensurate with his appointment, the Corporation granted Mr. Burega 1,500,000 stock options on October 3, 2012, at an exercise price of $0.45. Two thirds of these options vest upon achievement of specific performance targets where one third have time-based vesting. Mr. Brinkman was granted both stock options and Restricted Shares as previously announced. The stock options awarded comply with the Company's Stock Option Plan.

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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