StoneRiver Releases LifeApply and Claims Stream to its Solutions Lineup

By Rory Lidstone
TMCnet Contributing Writer

Insurance technology company, StoneRiver Inc. today announced two new insurance solutions at the ACORD LOMA Insurance Systems Forum, the premier business, technology and networking event for the insurance industry.

The first next generation electronic application from the company is called LifeApply. This app is designed to help life carriers decrease time-to-issue and policy acquisitions costs. In other words, LifeApply allows health, life and annuity carriers to simplify the new-business acquisition process while reducing expenses and ensuring that applications received are in good order. LifeApply can be implemented as a standalone e-application or as a component of a more complete solution, which includes seamless integration with Life Portraits Sales Illustrations and LifeSuite Underwriting system.

The second app is called Claims Stream and is the newest addition to the StoneRiver Stream Suite of fully integrated policy and claims (P&C) core processing systems. More specifically, Claims Stream is a browser-based claims administration system suitable for all personal and commercial businesses. StoneRiver has built upon its past experience and successes to deliver a well-polished product with Claims Stream. The complete Stream Suite includes Claims Stream, Billing Stream, Customer Stream and Distribution Stream. The suite can be purchased as one entity or each component can be obtained separately.

"We have been a long time StoneRiver client and have great confidence in both its software and its people,” said Paul D. Luongo, president and CIO for systems technology group, A Plymouth Rock Companies. “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."

This past March, StoneRiver was named the winner of the 2012 IBM Beacon Award for Best Industry Solution for Insurance. In April, the company received Novarica ACE Silver Ranking for its Freedom Reinsurance System.