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

Insurance Weekly News

By a News Reporter-Staff News Editor at Insurance Weekly News -- 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."