TORONTO, ON--(Marketwired - July 12, 2016) - Symbility Health Inc., a division of Symbility Solutions Inc. (TSX VENTURE: SY), today announced that it has signed an agreement with Microtrends Computing Services Inc., to directly distribute and support a fully web-based customized version of the FlexTPA product suite, called Symbility Health's AdminCare™.
Tightly integrated into Symbility Health's Adjudicare®, Symbility Health AdminCare™ will enable Symbility Health's nation-wide network of Third-Party Administrators (TPA), Third-Party Payers (TPP) and Brokers access to the industry's leading group benefits administration solution, and our robust claims adjudication platform. With single sign-on capability, our customers will avoid replication of key data elements from one system to another and be able to manage various aspects of employee group benefits with greater efficiency, effectiveness, and lower cost of ownership.
"Our collaboration with Symbility Health will provide the industry with a fully integrated group benefits administration and adjudication management solution. This combined platform eliminates the hassles that come with the administration component that TPA and TPP business owners face today," commented Costas Sourgoutsidis, President, Microtrends Computing Services Inc. "With Symbility's strong presence and reputation in the Canadian group benefits adjudication industry, we expect to see increased adoption in the market."
With AdminCare™, Symbility Health will deliver to its customers a best-in-class solution that allows them:
- Access to a bilingual benefit management solution that easily manages their benefit programs and drive administration efficiencies.
- Full admission for Plan Administrators and Members to access authorized information and functionality as determined by the TPA/TPP.
- Sophisticated security layer that permits customers to customize access to all information and functions.
- Ability to make sound financial processes throughout the organization, handling everything from Automatic Benefit Billing, right through to Carrier Remittances and Broker Commissions.
- Advanced reporting and analytics to understand the business -- eliminating the need to guess potential costs and profitability.
- Streamlined financial processes by integrating benefit billing information into existing accounting systems.
"The fact that we are integrating with a leading provider of group benefits administration is testament to Symbility's dedication to innovation and best-in-class technology solutions," stated Shannon McShane-Reed, president of Symbility Health. "There is no doubt that the addition of this leading administration capability to our robust cloud-based claims adjudication and management platform will generate tremendous efficiency gains for our customers."
ABOUT MICROTRENDS COMPUTING SERVICES INC.
Microtrends has been in business for over 25 years, delivering innovative software solutions for the Group Benefits, Travel Insurance, Recruiting and Hospitality Sectors. Our FlexTPA Benefits Administration System empowers TPAs to deliver exceptional administrative services to their group insurance clientele. Our bilingual, web-based application manages every operational facet, from complex plan design and member enrollment through to sophisticated billing generation, user audit and insurance carrier integration. With FlexTPA, administrators can finally take control of their business and truly build valued connections to their customers. flextpa.com
Symbility (TSX VENTURE: SY) believes in creating world-class experiences that simplify business and improve lives. With a history in modernizing insurance claims solutions for the property and health industries, Symbility has established itself as a partner that puts security, efficiency and customer experience first. Symbility PROPERTY™ brings smarter thinking to property insurance. Symbility HEALTH™ helps benefits professionals build their brands and businesses. Our strategic services team, Symbility INTERSECT™ empowers a variety of businesses with smarter mobile and IoT product development strategy, design thinking and engineering excellence. With our three segments pushing industries forward, Symbility proves that change for the better is entirely possible. symbilitysolutions.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All trade names are the property of their respective owners.