Filed Under:Claims, Claims Technology

Symbility Acquires MSB’s Claims Group in Exchange for Ownership Stake

Symbility Solutions Inc., a subsidiary of Automated Benefits Corp., and Marshall & Swift/Boeckh, a subsidiary of Decision Insight Information Group, announce they have entered into an agreement under which Symbility will acquire MSB’s claims division in exchange for the issuance to Decision Insight of 30 percent of Automated Benefits’ common shares.

Highlights of the deal include:

  • Symbility and MSB will integrate their complementary property claims workflow software, claims loss estimating solutions, and process analytics.
  • Symbility is acquiring MSB’s claims division, including contracts, employees, software, and analytics assets. In consideration for these assets and a cash investment, MSB’s parent company, Decision Insight Information Group, will become the largest shareholder of Automated Benefits Corp., with a one-third equity stake.
  • MSB also is entering into a long-term strategic license agreement with Symbility to integrate MSB’s claims estimation data into Symbility’s mobile claims software.
  • Decision Insight is a TPG Capital portfolio company and representatives of both organizations will join the Automated Benefits’ board of directors.

“Bringing together Symbility’s leadership in workflow and property estimating technologies with MSB’s 80 years of expertise in property cost data and analytics under a single corporate structure will allow us to leverage the specific strengths of each company to offer the market a new choice,” says James Swayze, CEO of Symbility Solutions. “We are extremely excited to be adding a team of claims industry professionals with decades of experience and subject matter expertise.”

“Joining forces with Symbility will accelerate our growth in the claims market and complement our underwriting franchise,” says Chris Cartwright, CEO of MSB and Decision Insight Information Group. “The integration of MSB’s data solutions with Symbility’s technology solutions supports our strategy to be the premier enterprise information, analytics and workflow provider for property insurers. We believe this

innovative, market-driven solution will provide the best option for property insurers to manage their operations effectively.”

Featured Video

Most Recent Videos

Video Library ››

Top Story

10 dog breeds most often blacklisted by home insurance carriers

According to Einhorn Insurance, American Pit Bulls and Staffordshire Terriers make the list of 10 of the most dangerous dogs that are blacklisted by insurers.

Top Story

Deadline this Friday: Apply today for NU’s Excellence in Cyber Security Risk Management Award

Cyber security risk management sets elite companies apart from their competitors. If your company is one of the elite, nominate your cyber risk management program today!

More Resources


eNewsletter Sign Up

Claims Connection eNewsletter

Breaking news on disasters, fraud, legal trends, technology, and CE initiatives for the P&C claim professional – FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.