TORONTO, Dec. 5, 2017 /CNW/ - Symbility Health Inc., a
division of Symbility Solutions Inc., (TSX.V: SY) and The Empire
Life Insurance Company (Empire Life) (TSX: EML.PR.A) announced
today they have launched a pilot program, with a select group of
Symbility's Third-Party Administrator partners, to provide a fully
insured drug product through Empire Life.
Group benefit plans are under enormous pressure from escalating
drug costs that increase exposure while rates continue to rise,
customer expectations continue to grow and employers demand more
from their providers. Third Party Payers are looking for ways to
protect and differentiate their business in today's marketplace.
With the introduction of this pilot program, Empire Life is
providing a new insured solution to Symbility Health customers to
assist with cost containment and plan sustainability.
"We are excited to have entered into this pilot program with
Empire Life and our partners," said Shannon
McShane-Reed, President Symbility Health. "With the
consistent trend of rising drug costs and introductions of
biologics into the market, this program will help ensure our
customers have insured options such as drug, life and long-term
disability, while retaining the flexibility that Administrative
Services Only or Health Care Spending Accounts can bring for
extended health and dental benefits."
"We're excited to work with Symbility," said Steve Pong, Senior Vice-President, Group
Solutions, Empire Life. "They're an innovative, Canadian software
company, and the capabilities of their systems have allowed us to
bring this product to the pilot stage quickly and efficiently. We
look forward to expanding our partnership in 2018 and beyond."
ABOUT EMPIRE LIFE
Established in 1923 and a subsidiary of E-L Financial
Corporation Limited, Empire Life provides individual and group life
and health insurance, investment and retirement products to
Canadians. Our mission is to make it simple, fast and easy for
Canadians to get the investment, insurance and group benefits
coverage they need to build wealth, generate income, and achieve
financial security. As of September 30,
2017 Empire Life had total assets under management of
$16.8 billion. Follow Empire Life on
Twitter @EmpireLife or visit www.empire.ca for more
information.
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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SOURCE Symbility Solutions Inc.