TORONTO, ONTARIO--(Marketwire - Aug. 10, 2012) - Automated Benefits Corp.® (the "Corporation") (TSX VENTURE:AUT), provider of cloud-based claims technology for the insurance industry, has received approval from the TSX Venture Exchange, to satisfy its obligation to pay independent director fees for the period January 1, 2012 to June 30, 2012 by issuing shares. As previously announced, the Corporation issued 149,856 Common Shares with a deemed value of $0.389 per share (for an aggregate value of $58,294.13) to the independent directors of the Corporation for services provided for the period January 1, 2012 to June 30, 2012. Such aggregate value is the aggregate net amount owing to the independent directors after making all statutorily required source deductions.
For more information and for disclosures related to the year ended December 31, 2011, please refer to the Corporation's Information Circular, which will be posted at www.sedar.com.
About Automated Benefits Corp.
Automated Benefits Corp.® (TSX VENTURE:AUT) a progressive software company dedicated to developing applications for the insurance industry. The organization currently has two platforms: Symbility® and Adjudicare®.
Symbility Solutions is a cutting-edge, easy-to-use, cloud-based claims processing and estimating technology that optimizes claims performance for Property & Casualty insurance industry. Relying on the most extensive and defendable property cost data developed by Marshall & Swift/Boeckh ("MSB"), our collaborative workflow management, mobile estimating, claims triage solutions and analytical services allow insurers to reduce costs while delivering a market-leading claims experience. Symbility Claims Solutions, used in conjunction with MSB's Underwriting Solutions, means property insurers now have a dynamic, market-driven enterprise solution. Providing a virtual feedback loop between claims and underwriting systems, this enterprise solution allows insurers to manage property risks more proactively and effectively.
Adjudicare is an advanced, practical web-based software solution used by a network of Employee Benefits Brokers and Third-Party Administrator partners across Canada in the adjudication of health and dental claims. Adjudicare's rules-based engine and leading-edge features ensure that claims are precisely adjudicated and paid in real-time, giving our partners' customers optimum flexibility, along with transparent disclosure on the benefit plan's financial performance.
All trade names are the property of their respective owners.