On NASDAQ Since 1991
CorVel Launches Automated Processing and Payment Platform
IRVINE, California, October 9, 2017 - CorVel Corporation (NASDAQ: CRVL) announced today the launch of its business process automation platform under the name SymbeoSM. Symbeo includes the longstanding Scan One line of data conversion operations as well as its remittance processing solutions. Symbeo will serve as the solution center focused on creating efficiencies between payors and payees for both insurance payments as well as corporate accounts payable (AP) business-to-business transactions.
Data integration functionality has expanded business process automation opportunities. As companies strive to focus on their enterprise-critical activities, the demand to leverage specialized service providers to automate administrative duties has increased. CorVel began as an outsource vendor for insurance services and has experienced growth in the expansion of those activities in new markets. Scan One lead this expansion and will be a core element in the Symbeo service line.
Scan One is recognized as a leader in the AP automation industry and works with the world’s top purchase-to-pay providers to help deliver complete solutions for Fortune 100 companies. Symbeo plans to expand its line to include on demand solutions for printing and fulfillment.
“The name Symbeo symbolizes an exciting new beginning for us,” said Symbeo’s President, Matt Wright. “We have a new facility scheduled for operation next year, and look forward to continued growth, capitalizing upon that expansion.”
CorVel Corporation is a national provider of innovative workers’ compensation, liability, auto and health solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. We apply technology, intelligence, and a human touch throughout the risk management process so our clients can intervene early and often while being connected to the critical intelligence they need to proactively manage risk. With a robust technology platform at its core, our connected solution is delivered by a national team of associates who are committed to helping clients design and administer programs that meet their organization’s performance goals.