The impact of CoreLogic's alliance with Symbility Solutions
Global software provider Symbility Solutions recently announced a partnership with CoreLogic Asia to implement and distribute Symbility’s cloud-based technology in both Australia and New Zealand.
CoreLogic is a leading provider of residential and commercial property information, and has its Asia Pacific subsidiary headquartered in Sydney. The company arranges real estate data, electronic property valuations and consumer reports.
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Currently, CoreLogic Asia services over 160,000 end users, including real estate agents, financial institutions, insurance companies and government entities.
“This newly formed partnership and product initiative between Symbility and CoreLogic demonstrates our combined commitment to helping the broader insurance industry simplify the claims process and improve the customer experience via data driven cloud-based workflow solutions,” said CoreLogic Asia CEO Graham Mirabito.
Although CoreLogic’s shares dropped by one per cent late last month after coming to terms with Symbility Solutions, the company’s shares have rallied over the past year. In addition, CoreLogic was upgraded from a “hold” rating to a “buy” rating, and several institutional investors have bought and sold shares of its stock.
Meanwhile, Symbility Solutions provides mobile-enabled, cloud-based claims technology for the property and health insurance industries.
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“Symbility’s partnership with CoreLogic Asia is a significant step in bringing our cloud-based claims solutions to a new and previously unexplored market,” said Symbility Solutions CEO James Swayze. “CoreLogic Asia’s significant market penetration combined with their existing knowledge of the Oceania insurance industry will assist Symbility in expanding our footprint and creating an important getaway to the Asia Pacific region.”