StoneRiver: Difference between revisions
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| ⚫ | ''Claim management'' consists of services in respect to an insurance claim for restitution, costs, compensations, or for loss or damage in respect to some obligation. Claims Workstation received a rating in [[Gartner]]’s report entitled “MarketScope for North American Property and Casualty Insurance Claims Administration Systems.”<ref>[http://www.psilos.com/Press/GartnerPASreport.pdf Gartner Report] Retrieved on 2010-5-26 </ref> |
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''Claim Management'' |
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Claim management consists of services in respect to an insurance claim for restitution, costs, compensations, or for loss or damage in respect to some obligation. |
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''Reinsurance'' can significantly return on investment through operational efficiencies and reinsurance recoveries. [[Reinsurance]] administration automation can have a substantial impact on finances as well as operational efficiency. StoneRiver offers two solutions for this market. |
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''Reinsurance'' |
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''[[Life Insurance]], [[Life annuity]], and [[Long-term care]]'' are components designed around the core functions of sales, underwriting and policy administration so insurance companies can customize their solutions. StoneRiver offers three solutions for this market. |
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''Life, Annuity and Long-Term Care'' |
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[[Life Insurance]], [[Life annuity]], and [[Long-term care]] are components designed around the core functions of sales, underwriting and policy administration so insurance companies can customize their solutions. StoneRiver offers three solutions for this market. |
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''Financial/Compliance Solutions'' |
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| ⚫ | Financial |
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| ⚫ | ''Financial/Compliance Solutions'' software assist to accuracy where it counts in many areas of Life and P&C. Designed with statutory accountants, these applications comply with cash, statutory and [[GAAP]] requirements. PTE Financial was given Novarica ACE Ranking in 2009 and in 2010 PTE received Novarica and TechDecions Rave Award.<ref>[http://www.novarica.com/report_ptefinancial_ace.shtml Novarica] Retrieved on 2010-5-10 </ref> <ref>[http://www.tech-decisions.com/News/2010/5/Pages/Tech-Decisions-Novarica-Honor-RAVE-Winners.aspx TechDecisions/Novarica] Retrieved on 2010-05-24 </ref> |
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Revision as of 22:32, 27 May 2010
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About StoneRiver, Inc
StoneRiver is a vendor and service provider in the insurance technology marketplace, providing Life/Annuity, Property & Casualty (P&C)/Workers’ Compensation, Reinsurance and Financial/Compliance software and service solutions.
StoneRiver offers solutions for policy administration, claims, billing, reinsurance administration, agency management, client management, and annual statement reporting as well as other financial transactions. Headquarters in Oakland, CA, StoneRiver has locations throughout US including California, Colorado, Florida, Iowa, Missouri, Ohio, South Carolina, and Wisconsin.
| Company type | Private |
|---|---|
| Industry | Insurance Technology |
| Founded | 2008 |
| Headquarters | , |
Area served | North America |
Number of employees | 2,500 |
| Parent | Stone Point Capital and Fiserv Incorporated |
| Website | StoneRiver.com |
History
Prior to July 2008, the business units that comprise StoneRiver were part of Fiserv Incorporated, which was founded in 1984. StoneRiver is a privately held corporation with two principal ownership groups: Stone Point Capital owns the majority of StoneRiver and Fiserv is the minority owner. Stone Point Capital is a private equity firm that has been making investments in the global financial services industry for over 20 years. StoneRiver falls in the Trident IV funds which Stone Point Capital manages.[1] Fiserv, Inc. is a provider of financial services technology, including information management systems, transaction processing, and software and systems solutions.
StoneRiver has areas of industry focus that have been assembled from 22 acquisitions made by Fiserv, Inc. between 1997 and 2007 with eight acquisitions in the Life/Annuity market and eight businesses in the Property & Casualty space. The addition of National Flood Services (NFS) in 2000 marked the company’s entry into the flood market, and the Workers’ Compensation Pharmacy market was entered in 2003 and supplemented with two other acquisitions in 2006 and 2007.[2]
Corporate Structure
StoneRiver has six business units:
National Flood Services (NFS)
National Flood Services (NFS) functions as an insurance management organization serving the insurance industry to support the National Flood Insurance Program (NFIP). NFS operates as the Flood Department for insurance companies participating in the federally sponsored NFIP Write Your Own (WYO) Program.
StoneRiver Pharmacy Solutions
StoneRiver Pharmacy Solutions (SPS), formerly Third Party Solutions and WorkingRx, is a provider of workers’ compensation prescription programs that provides electronic deliveries of medical and pharmacy bills directly to the workers’ compensation carrier amongst others. SPS electronically connects information between providers and payors. [3]
StoneRiver Insurance Division
The Insurance Division provides software products and services in the following areas:
Policy administration of Property and Casualty insurance, P&C, can be described as combining programmed technology (.NET or Java EE) with business rules, IT integration, and complex product configuration.
Claim management consists of services in respect to an insurance claim for restitution, costs, compensations, or for loss or damage in respect to some obligation. Claims Workstation received a rating in Gartner’s report entitled “MarketScope for North American Property and Casualty Insurance Claims Administration Systems.”[4]
Reinsurance can significantly return on investment through operational efficiencies and reinsurance recoveries. Reinsurance administration automation can have a substantial impact on finances as well as operational efficiency. StoneRiver offers two solutions for this market.
Life Insurance, Life annuity, and Long-term care are components designed around the core functions of sales, underwriting and policy administration so insurance companies can customize their solutions. StoneRiver offers three solutions for this market.
Financial/Compliance Solutions software assist to accuracy where it counts in many areas of Life and P&C. Designed with statutory accountants, these applications comply with cash, statutory and GAAP requirements. PTE Financial was given Novarica ACE Ranking in 2009 and in 2010 PTE received Novarica and TechDecions Rave Award.[5] [6]
RegEd
RegEd is a provider of solutions for compliance management, licensing and registration, and training and continuing education for an insurance carrier’s representatives/agents.
FSC
FSC[7] is a provider of comparative rating products for automobile, homeowners and dwelling/fire lines insurance agents[8], brokers[9] and general agencies that produce web-based quoting for insurance policies. In addition, FSC produces various agency automation tools such lead generation and agency management systems.
FSC was founded in 1980 and was acquired by Fiserv, Inc. in 2001. In 2008, FSC was one of the business units that formed StoneRiver, Inc.
Emerald
Emerald is a provider of web hosting services, seminar presentations, and direct mail for the nation’s financial, investment, and insurance professionals. The financial content developed by Emerald is packaged in a variety of formats for financial professionals to use in communications with their clients. All content is FINRA reviewed.[10]
References
- ^ About Trident Funds Retrieved on 2010-5-12
- ^ Insurance and Technology Retrieved on 2010-5-10
- ^ Dictionary.com An Ask.com Service Retrieved on 2010-5-10
- ^ Gartner Report Retrieved on 2010-5-26
- ^ Novarica Retrieved on 2010-5-10
- ^ TechDecisions/Novarica Retrieved on 2010-05-24
- ^ FSC Website
- ^ Business Dictionaries from ALLBusiness Retrieved on 2010-5-10
- ^ Business Dictionaries from ALLBusiness Retrieved on 2010-5-10
- ^ FINRA Retrieved on 2010-5-20