Symbility Sees Success and Growth in Insurtech and Beyond

TORONTO, ONTARIO — (March 28, 2017) Symbility Solutions Inc., (“Symbility”) (TSX.V: SY), announced todaytheir completion of another insurtech project for their fourth insurance brand of 2017 – this on the heels of the successful deployment of a First Notice of Loss (FNOL) application for a major global carrier in late 2016.

Through Symbility’s services division, Symbility Intersect, the company is experiencing significant growth in their scope of projects and new product offerings focused in the Fintech and Insurtech industries. Some of Symbility’s other projects includes helping one of Canada’s top auto insurers build the country’s first mobile auto claims submission experience, working with a global leader in HR and Benefits to launch 24 projects in three years through their product discovery and prototyping process, and creating an API for one of Canada’s top banks that connects to over 160 international banks allowing for easy and safe currency transfers.

“Regardless of the industry, one of the big challenges that we find large organizations are facing in regards to taking advantage of the opportunities that mobile and IoT offer, is being back-end ready,” said Paul Crowe, CEO, Symbility Intersect. “From API development to microservices architecture strategy, our team supporting these areas is consistently growing and always finding new and better solutions. Helping our clients modernize their legacy back-ends has a real organizational impact for them, while also enabling the rest of our mobile, web, and IoT development teams to bring innovative ideas to the table.”

Symbility’s expertise in designing data-driven UI/UX and adaptable infrastructure has made the company a much sought after partner for many organizations. While approximately 75 percent of Symbility’s service division’s revenue is made up of Fintech and Insurtech clients, their track record in bringing new and exciting innovation to current clients is quickly catching the eye of many players in other verticals as well, including retail, QSRs, mobile gaming, and even with some promising startups.

“The impact that we are seeing in our clients’ businesses never ceases to amaze me,” said James Swayze, CEO, Symbility Solutions. “We’ve built an incredible team here that does everything from leading edge UI builds to creating backend technology that works now and can be easily adapted in the future, it’s no wonder that we’re seeing organizations from all over wanting to partner with us. We’re incredibly excited about what the future holds for both us and our partners.”

 Caution Regarding Forward-Looking Information

This press release may contain forward-looking statements with respect to the Corporation, its products and operations.  These statements generally can be identified by use of forward looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance of the Corporation discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations, and the factors described under “Risk Factors” in the Management’s Discussion and Analysis and Annual Information Form of the Corporation which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Corporation and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Corporation has no obligation to update such statements.

About Symbility

Symbility (TSX.V: 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

 

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FOR FURTHER INFORMATION, PLEASE CONTACT: 

James R. Swayze

Chief Executive Officer

(647) 775- 8603 

jswayze@symbilitysolutions.com

Blair R. Baxter

Chief Financial Officer

(647) 775-8608 

bbaxter@symbilitysolutions.com

 

Lucy De Oliveira
Global Marketing Director
(647) 775-8607 

ldeoliveira@symbilitysolutions.com

 

Babak Pedram

Investor Relations

(416) 644-5081

bpedram@virtusadvisory.com