Last updated on April 25, 2014 at 5:51 EDT

StoneRiver Announces Availability of Claims Stream(TM)

May 16, 2012

ORLANDO, Fla., May 16, 2012 /PRNewswire/ — At the ACORD LOMA Insurance Systems Forum, StoneRiver Inc., the trusted insurance technology partner with solutions across multiple business lines, today announced that Claims Stream(TM) was released to market as the newest addition to its Stream Suite(TM) of fully integrated property and casualty core processing systems.

Claims Stream is a browser-based claims administration system for all personal and commercial lines of business. By leveraging over 20-years of experience developing and delivering claims systems to the market and working with dozens of carriers using its claims systems, StoneRiver has built on its past success and strong relationships with its active customer community to successfully deliver Claims Stream.

With this latest addition, the Stream Suite now includes Claims Stream(TM), Billing Stream(TM), Customer Stream(TM) and Distribution Stream(TM). Each can be purchased and deployed as a stand-alone component or as part of an integrated suite of core processing systems. Like other Stream components, Claims Stream utilizes the company’s advanced service-oriented Insurance Integration Platform (IIP) to provide easier business process automation, integration, scalability, and a rich user interface framework.

“Paul D. Luongo, President and CIO, STG / A Plymouth Rock Companies, commented, “We have been a long time StoneRiver client and have great confidence in both its software and its people. The Claims Stream system is well aligned with our technology strategy as well as our functional needs. We are in the process of implementing and aligning all companies’ claims systems functions and workflows to a single Claims Stream platform, and we anticipate significant operational and claims service improvements along with cost savings.”

Highlights of Claims Stream include:

  • Improved responsiveness with:

    • Online inquiry for claim status;
    • Easy reporting with robust, well-integrated FNOL components;
    • Configurable business rules, fine-grained services and BPM; and
    • Service-oriented architecture with embedded service bus for faster, easier integration with other systems and services.
  • Improved productivity with:

    • Case Management for specified processes that need to be managed separately like fraud and subrogation;
    • Intelligent workflow;
    • Configurable business rules;
    • Fine-grained services;
    • Business Process Management;
    • Comprehensive document tool; outbound documents generated manually or automatically through triggered system events.
  • Cost effective partnership with:

    • Management dashboards with drill-down capability;
    • Pre-integrated with Customer Stream, a module that gives a 360-degree view of all people and companies you do business with; and
    • Business Intelligence, including industry specific data marts and advanced analytics.

StoneRiver president Gary Sherne, noted, “We are thrilled to announce the availability to Claims Stream as we continue our development and introduction of the Stream Suite components through customer adoption. Our customer research told us to start with billing, followed by claims, and our next effort will be to focus on policy. We have been very deliberate in our approach to the market to ensure that we continue to deliver the best in product quality, functionality, configurability, and scalability — all attributes carriers are looking for as they continue their legacy core system replacement efforts. We expect Plymouth Rock to realize value as quickly as possible, and their sophisticated and advanced architecture and approach will help drive further rigor into Stream.”

About StoneRiver, Inc.
StoneRiver delivers the industry’s widest range of technology solutions and services to insurance carriers, agents, and broker-dealers. This versatile product group encompasses front-office, policy, claim, rating, underwriting, billing, reinsurance, financial and compliance solutions for all major business lines. Hundreds of companies rely on StoneRiver software and processing solutions to achieve a competitive edge. StoneRiver promotes client success by streamlining complex business processes. Visit stoneriver.com for more information.

SOURCE StoneRiver

Source: PR Newswire