Symbility Collaborates with NSR Management to Create a New Pricing Database for the United Kingdom Insurance Market

TORONTO, October 16, 2017 /PRNewswire/ --

Symbility Solutions (TSX.V: SY), a global software company focused on modernising the insurance industry, is pleased to announce the formation of a new relationship with NSR Management Ltd. (NSRM). This collaboration will see Symbility's UK customers gain access to an enhanced, comprehensive and continuously updated pricing database or 'Schedule of Rates,' focused on the UK property insurance repair industry.

Symbility and NSRM have worked together bringing their respective expertise to bear to deliver a market-leading pricing solution meeting the needs of Symbility's UK customer base. This database incorporates both Symbility's expertise in estimating practices and software usability with NSRM's proven track record in the pricing of repair works to deliver the most current and accurate pricing, whilst maintaining a focus on applicability, usability and quality throughout. This new database will be seamlessly delivered via Symbility's range of cloud based claims collaboration and estimating applications.

The integration of NSRM's trusted experience in building repair pricing data for the broader UK construction industry, augmented with Symbility's extensive knowledge in claims processing, loss estimating and process management technologies, deliver a market-driven enterprise solution that enables a better claims management experience for UK insurers and the entire UK claims supply chain community.

"Our collaboration with NSRM fulfils a strategic objective for our UK business, which we believe will be highly advantageous for our clients," said Symbility Solutions CEO, James Swayze. "NSRM's building pricing data together with Symbility's claims management cloud technology, deliver a best-in-class solution. This solution reinforces Symbility's long-term commitment to the UK property claims industry and supports our stated strategy to be the premier claims management cloud platform provider to the global insurance market."

David Fairbrother, Managing Director of NSR Management Ltd., commented, "We are excited about working with Symbility to deliver value into what is at the moment, only a small segment for our business. NSRM is trusted by thousands of individuals and businesses in the United Kingdom to support the pricing of building works in the construction and maintenance markets. It is a natural progression for us to deliver our expertise to what is a very important sector of our industry. We were very excited to be approached by Symbility, who are the market leaders in their field and believe the outputs of our collaboration will deliver significant value over the long term."

ABOUT NSR MANAGEMENT 

NSR Management Ltd. was first established in Aylesbury in 1994 to compile, promote and develop the National Schedule of Rates. It became a limited company in 1998. Over the past 20+ years NSR Management has developed the portfolio of Schedules and they have become synonymous with the management of Measured Term Contracts. With our years of experience in publishing Schedules of Rates for the Built Environment, we are the trusted name in Term Maintenance Contracting for Buildings and Highways. Our Schedules are the only National basis of pricing that is truly independent. With over 40,000 rate items updated yearly, we publish a range of National Schedules in book, data and web format: Building Works, Mechanical Services, Electrical Services, Highways Maintenance, Housing Maintenance, Access Audit and Painting and Decorating.

ABOUT SYMBILITY 

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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James R. Swayze, Chief Executive Officer, (647)775-8603, jswayze@symbilitysolutions.com; Blair R. Baxter, Chief Financial Officer, (647)775-8608, bbaxter@symbilitysolutions.com; Lucy De Oliveira, VP, Global Marketing, (647)775-8607, ldeoliveira@symbilitysolutions.com; Babak Pedram, Investor Relations, (416)644-5081, bpedram@virtusadvisory.com