Symbility Solutions Inc., a subsidiary of Automated BenefitsCorp., and Marshall & Swift/Boeckh, a subsidiary of DecisionInsight Information Group, announce they have entered into anagreement under which Symbility will acquire MSB's claims divisionin exchange for the issuance to Decision Insight of 30 percent ofAutomated Benefits' common shares.

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Highlights of the deal include:

  • Symbility and MSB will integrate their complementary propertyclaims workflow software, claims loss estimating solutions, andprocess analytics.
  • Symbility is acquiring MSB's claims division, includingcontracts, employees, software, and analytics assets. Inconsideration for these assets and a cash investment, MSB's parentcompany, Decision Insight Information Group, will become thelargest shareholder of Automated Benefits Corp., with a one-thirdequity stake.
  • MSB also is entering into a long-term strategic licenseagreement with Symbility to integrate MSB's claims estimation datainto Symbility's mobile claims software.
  • Decision Insight is a TPG Capital portfolio company andrepresentatives of both organizations will join the AutomatedBenefits' board of directors.

“Bringing together Symbility's leadership in workflow andproperty estimating technologies with MSB's 80 years of expertisein property cost data and analytics under a single corporatestructure will allow us to leverage the specific strengths of eachcompany to offer the market a new choice,” says James Swayze, CEOof Symbility Solutions. “We are extremely excited to be adding ateam of claims industry professionals with decades of experienceand subject matter expertise.”

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“Joining forces with Symbility will accelerate our growth in theclaims market and complement our underwriting franchise,” saysChris Cartwright, CEO of MSB and Decision Insight InformationGroup. “The integration of MSB's data solutions with Symbility'stechnology solutions supports our strategy to be the premierenterprise information, analytics and workflow provider forproperty insurers. We believe this

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

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