StoneRiver Inc., the trusted insurance technology partner with solutions across multiple business lines, was recently recognized in the Reinsurance Administration category during 2012 RAVE Award, Co-sponsored by Tech Decisions magazine and industry research and advisory firm Novarica.
"This is a great win and much appreciated recognition for the entire StoneRiver team, especially given that it is based solely on feedback from our customers,” said StoneRiver president and CEO Gary Sherne. “We will continue to work diligently to focus on the needs of our customers to not just maintain our high ranking, but to exceed it. Our thanks to both Tech Decisions and Novarica for sponsoring the RAVE Awards and for their continued efforts in keeping the insurance industry well informed."
StoneRiver provides P&C insurers with software for reinsurance administration that helps achieve business objectives. The two system options ensure a strong fit, no matter what volume size or requirements for ceded, assumed or retroceded reinsurance administration. The systems offer a full range of function from contract definition, to claims and all the way through year-end statutory reporting.
Through the solution, a user can reduce negative float by reducing the time needed for recoverable collection and identify previously undiscovered collectibles
"We congratulate StoneRiver on the RAVE recognition,” said Matthew Josefowicz, partner and managing director for Novarica. “The RAVE Awards recognize those solutions, like StoneRiver's Freedom Reinsurance System, that are delivering exemplary value to their customers as measured by those customer themselves. The StoneRiver system received an impressive overall ranking of 93, earning it the top spot among reinsurance administration offerings."
In related news, StoneRiver, Inc.’s Claims Stream and Customer Stream solutions are currently being deployed by Plymouth Rock Group of Companies. Plymouth Rock is steadily accomplishing its goal of renovating its main processing environment by advantageously utilizing the latest technologies and a Service Oriented Architecture (SOA), incorporated by StoneRiver's Claims Stream and Customer Stream solutions.
Plymouth Rock is therefore able to reorganize operations for its several different types of companies located at several locations.
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Edited by Braden Becker