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Adjudicare Signs Agreement with First TPAAC Member(July 17, 2012)
TORONTO, ONTARIO -- (Marketwire) -- 07/17/12 -- Automated Benefits Inc. ("Adjudicare"), a wholly-owned subsidiary of Automated Benefits Corp. (TSX VENTURE:AUT); providers of a web-based software solution that enable insurance brokers and third party administrators across Canada to adjudicatehealth and dental claims on behalf of their group benefit clients, is pleased to announce the formalization of a multi-year agreement with Automated Administration Services Inc. ("AAS"). Considered a pioneer in the TPA marketplace, a charter member of the Third Party Administrators' Association of Canada (TPAAC), and member of its' board of directors since its inception, AAS has a strong market reputation of providing innovative benefit plan designs to their valued clients since 1985.
After a thorough evaluation process, AAS who have an extensive history of developing their own successful third party administration software concluded that the Adjudicare platform was the health and dental adjudication system of choice for their organization.
"We are excited to partner with the Adjudicare team, who have proven to be an innovative, flexible and committed partner that will help us address the ever changing needs of the TPA and general Canadian health insurance industry," states Keith Foot, President, AAS. "We believe that adding their application to our current tools will give us the competitive-edge needed to continue to grow our business."
"We are extremely excited to be working with the AAS team in developing a long-term strategic partnership," states Richard Adair, President, Adjudicare. "With Keith's expertise and active involvement in TPAAC, he will be instrumental in helping our organization develop and execute a roll-up strategy to provide access to industry knowledge, best practices and infrastructure to our valued partners."
About Automated Benefits Corp.
Automated Benefits Corp. (TSX VENTURE:AUT) a progressive software company dedicated to developing applications for the insurance industry. The organization currently has two platforms: Adjudicare and Symbility.
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.
Symbility Solutions is an innovative, easy-to-use, cloud-based claims processing and estimating technology that optimizes claims performance for 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.
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Lucy De Oliveira
Director of Marketing
(416) 359-9339, ext. 1007
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