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Symbility Forges Strategic Alliance with Wipro

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Symbility Forges Strategic Alliance with Wipro

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June 03, 2010
By Madhubanti Rudra
TMCnet Contributor

Symbility Solutions has forged a strategic alliance with Wipro limited.

A wholly owned subsidiary of Automated Benefits Corporation, Symbility Solutions is known for its suit of property insurance claims automation solutions, while Wipro (News - Alert) Limited is a globally renowned provider of integrated business, technology and process solutions. Both the alliance partners seek to leverage the expertise of their ally to develop claiming solutions, that would help boost up North America's insurance sector.


Automated Benefits Corp., headquartered in Toronto, Ontario, is a software company dedicated to developing applications for the insurance industry. The Corporation currently has two subsidiaries, Automated Benefits Inc. and Symbility Solutions Inc.

The Bangalore, India based Wipro Technologies (News - Alert) aspires to develop best-of-breed solutions by integrating Symbility's product capabilities.

"This strategic partnership will leverage Symbility's product capabilities and Wipro's domain and technical capabilities to provide insurers of North America a competitive edge in adjusting property claims. With a continued focus on the ever-changing needs of their client base, Wipro and Symbility will be able to provide the best of breed solutions to enable their customer reduce claims cycle times, enhance customer service and improve customer retention," Ajoy Menon, Global Insurance Head at Wipro Technologies, observed. 

Symbility Solutions product line boasts of solutions that are designed to automate property insurance claims through its complementary components.

Symbility Claims Connect is the collaborative workflow management tool that gives every claim participant real-time access to the claims they are working on.

Symbility Inside Adjuster is an integrated application designed to streamline the first notice of loss process for the faster settlement of claims.  

The company is known for its award-winning Symbility Mobile Claims software, which helps increases speed, efficiency and accuracy by allowing on-site claims processing. In a nutshell, Symbility software solutions speed up claim processing mechanism in the insurance industry by giving users the mobility, speed and control needed to effectively and quickly move onto the next claim.

It will be relevant to mention here that in one of his recent addresses at 2010 PLRB Claims Conference, Symbility's CEO James Swayze observed that insurers face an uphill battle when it comes to claims management. He cited results of a JD Power & Associates study that revealed 46% decline in client satisfaction scores for property claims between 2004 and 2008, and a rising claims process cycle time that averages 18.6 days to close.

Swazye however, pointed out that integration of technologies might be the way to simplify the claiming process and increase the customers' satisfaction level.

Symbility seeks to leverage Wipro's system integration know how to expand its customer base.

"Wipro has a successful track record of system integration across industries including some of the leading property and casualty insurers of North America. Partnering with a multibillion dollar company like Wipro will allow Symbility to leverage their existing relationships into greater business opportunities," Symbility's Executive Vice President Richard Adair, stated.

 


Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Alice Straight

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