StoneRiver
Value-Oriented Solutions for Synchronized Operations

Insurers today are opting more and more to provide their customers with a compelling omni-channel experience. This inclination towards customer-centricity is an initiative by insurers to identify new avenues for cross-selling products and services. Additionally, insurance carriers are scouting for a scalable core system that would evolve with new business requirements that might surface in the near future. As a trusted insurance technology partner, Denver, CO based StoneRiver delivers a diverse range of value-oriented software and processing solutions to insurance carriers, agents, and broker dealers. StoneRiver’s value-oriented technology insurance management solutions and services encompass front-office, claims, rating, underwriting, billing, and reinsurance automation for major business lines.

Catering specifically to hundreds of Property and Casualty (P&C) Insurers, StoneRiver’s Stream Suite is an all-encompassing insurance management solution that is redefining the lifecycle of core insurance systems today. Based on StoneRiver’s patented service-oriented architecture—Insurance Integration Platform (IIP)—Stream Suite offers users with seamless integration to in-house and third party systems. Prominent advantages of IIP include flexibility and reuse of services and functionality as the system evolves to adapt to business needs. StoneRiver has leveraged IIP to craft core systems—Stream Policy, Stream Billing, Stream Claims, Stream Customer and Stream Distribution—that seamlessly integrate with an insurance carrier’s data and business workflows to support a flexible operational model.

StonerRiver’s advanced approach to model and connect insurance software components is industry-recognized with multiple patents granted for Stream Suite-related inventions. “Insurers need to operate at peak efficiency as they compete and grow,” says Gary Anderson, CEO and President, StoneRiver. “That’s why our Stream solution set needed to be a uniquely significant improvement over existing insurance automation on the market. These patents will protect our investment, and in turn, the investment of carriers using the Stream enterprise suite.” In addition to proffering full core system functionality and the ability to effortlessly interface with business partners to avail services, Stream Suite also offers business rule configurability and the ability to be configured based on an insurer’s unique needs.

StoneRiver’s offerings for all core systems also serve as strategic operational solutions that allow carriers to keep pace with the competition and regulations in an evolving marketplace.

Insurers need to operate at peak efficiency as they compete and grow

For instance, Stream Policy speeds up time to market to help insurers with introducing new offerings to market proactively. With the help of standardized configuration tools and no need for custom code, Stream Policy offers real-time, dynamic configuration of rules in addition to an intelligent workflow for straight through processing, exception underwriting, and back-end ordering and tasks. Another crucial application to streamline the claims operations is the Stream Claims that handles end-to-end claims processing for all personal and commercial lines of business. The Stream Claims system has a unique feature for case management that ensures consistent handling of time-consuming activities like fraud-detection and subrogation. In a recent instance, a provider of leading Personal, commercial, and worker’s compensation products selected StoneRiver’s Stream Claims to automate and standardize workflow in the claims process. The ongoing deployment will help the client with reducing their manual and paper-based processing. The rules and table-driven approach will benefit the client in the long run as it will empower business analysts in the firm to make changes in the system without over-spending on expensive technical resources. "We’re pleased to begin deployment of Stream Claims for this strong regional carrier with a business built on differentiating through customer service,” states Anderson. “This is where Stream Claims fits well, as it can help make faster reaction times possible and improve already strong service operations."