TORONTO, Nov. 7, 2017 /CNW/ - Symbility Solutions' (TSX.V: SY) ("Symbility") Australasian reseller CoreLogic, have signed a contract with Vero Insurance, part of Suncorp New Zealand, to assist them in automating their claims process, and improving the claims experience for their customers.
Symbility's data-driven, cloud-based claims assessment and management workflow platform will benefit all participants in Vero's claim process - the insurer, its supplier networks and the policyholder.
"Major events like the Kaikoura and Canterbury earthquakes have shown how vital insurance is for safeguarding New Zealanders homes and financial wellbeing," said Jimmy Higgins, Executive General Manager for Claims at Vero.
"We're committed to being there in the moments that matter, to get our customers' homes repaired as quickly as possible, and Symbility will help us achieve this."
Head of Insurance NZ at CoreLogic, Richard Deakin, noted that Symbility integrates completely into an insurer's existing system to create a single source of truth for a claim throughout the entire process.
"From first notice of loss, to the assessment process to remediation, Symbility vastly improves efficiencies and delivers a better outcome for customers who need to make a claim on their house insurance," said Mr Deakin.
"Often the biggest cause of frustration amongst policyholders is not knowing where the claim is at or what the outcome is likely to be, something often remembered very clearly at renewal time. Symbility turns this all on its head, instead offering full visibility of the claim to all participants."
Jimmy Higgins said Vero was looking for a solution that was easy to use but that also allowed assessment and pricing accuracy, improved management of the claims process, reduced revisits and variations.
"We trialled Symbility and were delighted with the way it improved outcomes for our customers, so we're looking forward to seeing the very real benefits it will have for our claims handling process, and for our customers."
"We're excited to have signed our first contract in New Zealand with Vero Insurance, a key player in the industry," said James Swayze, CEO of Symbility Solutions. "Symbility is focused on making the claims process easier and better for everyone involved. Vero has recognized this and by working closely with our partners at CoreLogic they will gain operational efficiencies that will benefit their team, their network, and their policyholders."
ABOUT VERO INSURANCE
Vero Insurance is a leading intermediated general insurer. Vero distributes its products through a large broker and adviser network, as well as its partnerships with some of New Zealand's leading financial institutions. It is focused on creating value for our customers and business partners by making it easier to do business.
Vero is part of Suncorp New Zealand, a leading general and life insurance business. Suncorp New Zealand is part of Suncorp Group - a general insurance, banking, life insurance and superannuation business with brands in Australia and New Zealand. The Group has relationships with nine million customers. Suncorp Group Limited is a Top 20 ASX-listed company with A$96 billion in assets.
Vero Insurance New Zealand Limited has been given an A+ insurer financial strength rating by Standard & Poor's.
CoreLogic Asia Pacific is a wholly owned subsidiary of CoreLogic (NYSE: CLGX) , which is the largest property data and analytics company in the world. CoreLogic provides property information, analytics and services across Australia, New Zealand and Asia, and recently expanded its service offering through the purchase of project activity and building cost information provider Cordell. With Australia and New Zealand's most comprehensive property databases, the company's combined data offering is derived from public, contributory and proprietary sources and includes over 4.4 billion decision points spanning over three decades of collection, providing detailed coverage of property and other encumbrances such as tenancy, location, hazard risk and related performance information.
With over 20,000 customers and 150,000 end users, CoreLogic is the leading provider of property data, analytics and related services to consumers, investors, real estate, mortgage, finance, banking, building services, insurance, developers, wealth management and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and geospatial services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. CoreLogic employs over 650 people across Australia and in New Zealand. For more information call 1300 734 318 or visit www.corelogic.com.au or www.corelogic.co.nz.
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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SOURCE Symbility Solutions Inc.
For further information: James R. Swayze, Chief Executive Officer, (647) 775- 8603, [email protected]; Blair R. Baxter, Chief Financial Officer, (647) 775-8608, [email protected]; Lucy De Oliveira, VP, Global Marketing, (647) 775-8607, [email protected]; Babak Pedram, Investor Relations, (416) 644-5081, [email protected]