Last C$0.37 CAD
Change Today +0.01 / 2.78%
Volume 27.8K
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As of 1:41 PM 04/16/14 All times are local (Market data is delayed by at least 15 minutes).

symbility solutions inc (SY) Snapshot

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52 Week High
07/29/13 - C$0.51
52 Week Low
03/6/14 - C$0.26
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symbility solutions inc (SY) Details

Symbility Solutions Inc. provides cloud-based and smartphone/tablet-enabled claims technology solutions for the property and casualty, and health insurance industries in the United States, Canada, and internationally. The company operates in two segments, Symbility Property and Symbility Health. Its solutions for property and casualty insurance industry include Symbility Mobile Claims, a mobile estimating solution to enhance adjuster and third-party contractor productivity; and Symbility Claims Connect, a workflow management solution that enables end-to-end collaboration across the claims processing environment, and analysis of claims processing performance metrics. The company’s solutions for property and casualty insurance industry also comprise Symbility Inside Adjuster, a triage solution, which allows desk adjusters to prioritize, route for follow-up, or settle claims; and Symbility Reporting/Analytics Services consists of analytics and change management services. It also provides Adjudicare, a Web-based software solution used by a network of employee benefits brokers and third-party administrator partners in the adjudication of health and dental claims. The company was formerly known as Automated Benefits Corp. and changed its name to Symbility Solutions Inc. in September 2012. Symbility Solutions Inc. was incorporated in 1999 and is headquartered in Toronto, Canada.

117 Employees
Last Reported Date: 03/28/14
Founded in 1999

symbility solutions inc (SY) Top Compensated Officers

Chief Executive Officer, Non-Independent Dire...
Total Annual Compensation: C$250.0K
President and Chief Operating Officer
Total Annual Compensation: C$220.0K
Founder and Chief Technology Officer
Total Annual Compensation: C$193.3K
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: C$133.3K
Senior Vice President of Global Sales and Mar...
Total Annual Compensation: C$40.0K
Compensation as of Fiscal Year 2012.

symbility solutions inc (SY) Key Developments

Symbility Solutions Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Symbility Solutions Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the period, the company reported revenue of CAD 5,471,000 compared with CAD 4,656,000 for the same period last year. Loss before finance costs, net and income tax expense was CAD 1,365,000 compared with CAD 765,000 for the same period last year. Net loss and comprehensive loss for the period was CAD 1,347,000 or CAD 0.01 Basic and diluted per share compared with CAD 761,000 for the same period last year. Adjusted LBITDA was CAD 460,000 compared with adjusted EBITDA CAD 161,000 for the same period last year. For the full year, the company reported revenue of CAD 21,894,000 compared with CAD 16,537,000 for the same period last year. Loss before finance costs, net and income tax expense was CAD 4,791,000 compared with CAD 3,395,000 for the same period last year. Net loss and comprehensive loss for the period was CAD 4,687,000 or CAD 0.02 basic and diluted per share compared with CAD 3,393,000 or CAD 0.02 basic and diluted per share for the same period last year. Adjusted LBITDA for the twelve month period ending December 31, 2013 was CAD 137,000 compared to adjusted EBITDA of CAD 831,000 in 2012.

Symbility Solutions Announces Board Changes

Symbility Solutions Inc. announced that CoreLogic has completed its acquisition of Decision Insight Information Group's 29.4% indirect ownership of Symbility Solutions, contemporaneous with their purchase of Marshall & Swift/Boeckh (MSB) and DataQuick Information Systems. Concurrent with the CoreLogic transaction will be the appointment of James L. Balas, Senior Vice President Finance and Controller of CoreLogic, to the company's Board of Directors. In his role at CoreLogic, Mr. Balas is responsible for leading the accounting, tax, financial reporting, and SEC reporting functions for CoreLogic. Symbility Solutions announced that Nehal Raj of TPG Capital will resign from the Board of Directors.

Symbility Solutions Inc. Introduces New Water Mitigation Module

Symbility Solutions Inc. has introduced a new Water Mitigation Module, available through Symbility's mobile estimating application Mobile Claims on all of its supported platforms including PCs, tablets and iOS/Android smartphones. Symbility's Water Mitigation Module enables contractors and restoration professionals to capture water mitigation data onsite, while validating equipment usage and drying methodology to the industry standard Institute of Inspection Cleaning and Restoration Certification ("IICRC") S500. This module offers contractors a new level of efficiency by creating estimates during the restoration process. The Water Mitigation Module is designed to increase accuracy by guiding the user to designate the appropriate amount and type of equipment to deal with the water emergency. It has strict adherence to the IICRC S-500 water mitigation guidelines that supports an effective and scientific structural dryout of water losses. It automatically calculates the amount of equipment needed (based on the S-500 standards), as water technicians enter the moisture and equipment readings throughout the drying process. By creating the estimate while the drying equipment is placed and removed, the Water Mitigation Module eliminates the need for reconciliation between the drying log and the estimate; and ensures mitigation and restoration companies, policyholders and insurance carriers that they are using an industry-based structural dryout supported and upheld in a court of law.


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