TORONTO, ONTARIO--(Marketwire - March 18, 2013) - Symbility Solutions Inc.® (TSX VENTURE:SY)(OTCQX:ATBEF) ("Company"), provider of cloud-based claims technology using the most comprehensive data for the property and casualty insurance industry, today announced it has appointed two new Directors to the Company's Board of Directors -- Richard M. Hurwitz former Chief Executive Officer and Chairman of the Board of Pictometry International Corp. and Tony Reisz, Chief Executive Officer for Decision Insight Information Group ("DIIG") and Marshall & Swift/Boeckh ("MSB").
"We are very pleased to have Rick Hurwitz and Tony Reisz join the board. Each of these individuals brings vast experience and industry knowledge which will serve Symbility well," commented G. Scott Paterson, Chairman of the board of directors of Symbility Solutions. "We are looking forward to their contributions as we continue to drive for long-term shareholder value."
Richard M. Hurwitz's proven track-record of building high growth technology-based service companies spans more than 25 years and includes extensive experience in business building, general management, and capital raising with financial service and technology companies in the U.S. and abroad. As the CEO of Pictometry from 2010-2013, and Chairman of its board prior to that, Mr. Hurwitz successfully led its transformation from an image content company to a provider of geospatial solutions. Mr. Hurwitz has served the insurance industry in various capacities throughout his career. Today, Mr. Hurwitz manages a portfolio of operating assets around the United States and serves as a Director at the investment management complex of Manning & Napier, Inc. He is a former member of the NASD's District 4 Committee.
As the recently appointed CEO of DIIG and MSB, Tony Reisz oversees a portfolio of businesses that provide essential property information, solutions and services to insurance, financial, legal and real estate professionals throughout the United States, Canada and Europe. Prior to joining DIIG and MSB, Mr. Reisz spent over a decade providing transformative executive leadership to firms in the Information Technology and Property and Casualty Insurance industries. As President and CEO of Ontario Systems, he led the organization through one of its most innovative periods by dramatically revamping its entire product suite-garnering a host of industry awards in the process. During Mr. Reisz's time as President of Insurity, he led a complete restructuring of the organization, including new product development, diversifying revenue sources, realigning the product portfolio and repositioning its place in the market through a comprehensive rebranding process.
The Corporation announces the resignation of Timothy Stanley and Christopher Cartwright as Directors, effective immediately. The management and board thank Mr. Stanley and Mr. Cartwright for their service as Directors and wish them success in their future endeavors.
About Symbility Solutions Inc.
Symbility Solutions (TSX VENTURE:SY)(OTCQX:ATBEF) is a global 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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