CST: 29/08/2016 22:10:30   

Symbility Awarded Patent That Decreases the Risk of Fraudulent Digital Health Claim Submissions

172 Days ago

TORONTO, ON --(Marketwired - March 10, 2016) - Symbility Solutions Inc. (TSX VENTURE: SY), a global software company dedicated to developing applications for the insurance industry, is pleased to announce that it has been granted a patent for an automatic fraud detection invention found in the Symbility Health Mobile Claims application.

As the health insurance industry progresses in the direction of digital claims submission, Symbility's Health Division developed a unique feature that leverages optical character recognition (OCR) and artificial intelligence to automatically detect and flag the claim for human review. This layer of automation and protection will create efficiencies in the adjudication process and enable Third-Party Administrators, Payers or Insurance Carriers to gain a distinct competitive advantage by enabling real-time claims processing with automatic fraud detection, a first in the Canadian health insurance marketplace.

The feature can be found embedded in the Symbility Health Mobile Claims application, that allows members to capture their proof of payment using their mobile device's camera and view their coverage and dependent information, recent claims history, as well as the remaining benefit balances for commonly claimed items.

Shannon McShane-Reed, President, Symbility Health, commented, "Fraud is of continuous concern for all claims payers in today's world of online and mobile technologies. Symbility continues to innovate and build applications that protect our clients and enhance the customer experience."

The patent was accepted for issuance by the Canadian Patent Office for Patent application CA 2,839,167 entitled Online Claims Submission and Adjudication System.

About Symbility Solutions® Inc.

Symbility Solutions (TSX VENTURE: SY) is a global provider of cloud-based and mobile-enabled claims technology for the property and health insurance industries. Designed to be flexible and easy-to-use, Symbility Solutions' two product suites, Symbility Property™ and Symbility Health™, empower insurers to collaborate across the entire claims processing workflow and reduce costs while delivering a market-leading claims experience. Symbility's mobile innovation division, BNOTIONS, focuses on the design and development of leading technologies in the areas of mobile, the Internet of Things (IoT), Machine-to-Machine (M2M), and wearables. For more information, please visit www.symbilitysolutions.com or follow Symbility on Twitter at @symbility and on LinkedIn at symbility-solutions.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All trade names are the property of their respective owners.

Media Contacts: 
James R. Swayze
Chief Executive Officer
Symbility Solutions Inc.
(647) 775-8600
jswayze@symbilitysolutions.com
 
Lucy De Oliveira
Global Marketing Director
Symbility Solutions Inc.
(647) 775-8607
ldeoliveira@symbilitysolutions.com 

Investor Contact: 
Blair R. Baxter
Chief Financial Officer
Symbility Solutions Inc.
(647) 775-8608
bbaxter@symbilitysolutions.com