January 26, 2012 by Canadian Underwriter
Symbility Solutions is acquiring Marshall & Swift/Boeckh (MSB)’s claims divisions, including contracts, claims 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 with a one-third equity stake in Symbility’s parent company, Automated Benefits Corp.
“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,” said James Swayze, Symbility’s CEO.
Chris Cartwright, MSB and Decision Insight Information Group’s CEO, added: “Joining forces with Symbility will accelerate our growth in the claims market and complement our underwriting franchise.”