Symbility, Wayne Insurance Group Sign Multi-Year Deal
October 08, 2015
Symbility recently announced that Wayne Insurance Group would use its claims software as part of a multi-year agreement. Wayne will primarily use Symbility’s Claims Connect and Mobile Claims applications, with the latter being used extensively to generate claims estimates out in the field.
Wayne Insurance Group is a Wooster, Ohio-based company that owns three separate insurance companies: Wayne Mutual Insurance Company, Washington Mutual Insurance Association, and Marion Mutual Insurance Association. Through these companies customers can obtain farm, home, mobile home, vehicle, dwelling, and umbrella insurance policies.
Toronto-based Symbility Solutions develops cloud-based claims solutions for the property and health insurance industries. Software is priced based on the customer’s computing environment.
There are two pricing options available with Symbility software: pay per transaction, or get a subscription. The transaction option is more cost effective for an office that only processes an occasional claim. The subscription plan is better for companies that process numerous claims on a regular basis.
Claims Connect is a workflow management solution that facilitates collaboration through rights-based access, allowing estimators, adjusters, contractors, and policyholders to see what is going on with a claim and enter information during its lifecycle. It ensures that each claim follows the right steps, is handled consistently, and that settlements are accurate and timely.
Mobile Claims is an estimating solution accessible from a PC or mobile device. The diagram-based estimating tool allows adjusters to include photos, diagrams, voice and handwritten notes, and measurements in a claim.
The announcement follows a trend of positive business for Symbility. The deal with Wayne Insurance Group follows a similar deal with German insurance company Rainbow International Systemzentrale Deutschland GmbH last month. The company also made the 2015 PROFIT 500 list, a list of fastest growing Canadian companies similar to the Inc. 5000. For the past five years, Symbility has had revenue growth of 506 percent.
This news is also good for policyholders, because it is another example of technology advancing in the insurance industry. This will result in claims being processed faster and those affected by damage or loss to their property to make repairs or get replacements much faster.
Edited by Kyle Piscioniere