Amica Life Insurance Company Selects LifeSuite from StoneRiver
May 24, 2012
By Raju Shanbhag
TMCnet Contributor
LifeSuite from StoneRiver is a Web-based new business and automated underwriting system that is created upon more than a decade of experience in the market. Providing the most efficient and consistent automated underwriting solution available today, LifeSuite channelizes the complete new business process from application receipt through coverage approval.
Recently, StoneRiver announced that Amica Life Insurance Company, life subsidiary of Amica Mutual Insurance Company, started production with LifeSuite Automated Underwriting solution.
StoneRiver's LifeSuite was installed on time and within budget and is now live at Amica. This is an important component, which has resulted in the selection of LifeSuite by Amica Life. The company has a previous working relationship and track record of success with both StoneRiver's Life Portraits needs analysis and illustration system and ID3 policy administration system, the company stated in a press release.
LifeSuite’s unparalleled suite of tools assist in enhancing the company’s effectiveness, enabling reduced time to issue, improved growth and a reduction in policy acquisition costs, the company stated.
StoneRiver's Gary Anderson, chief operating officer, added in a company press release, "We are very pleased to have the continued opportunity to work with such a prestigious organization and skilled collection of professionals. Our teams worked very well together throughout the implementation effort, and we look forward to continuing our strong working relationship to address Amica's future needs."
Recently, TMC (News - Alert) reported that the company launched 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 created to assist life carriers reduce time-to-issue and policy acquisitions expenses. LifeApply lets health, life and annuity carriers simplify the new-business acquisition process and decrease costs.
Edited by Brooke Neuman
Article comments powered by
|