Stoneriver

StoneRiver
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.
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 with the majority, and Fiserv.
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.
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.
Corporate Structure
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). Insurance company clients refer to NFS as a ‘third party administrator’ while federal agencies refer to NFS as a ‘Vendor’. NFS actually operates as the Flood Department for a number of insurance companies participating in the federally sponsored NFIP Write Your Own (WYO) Program. NFS manages policies issued in all 50 states.
StoneRiver Pharmacy Solutions
StoneRiver Pharmacy Solutions (SPS), formerly Third Party Solutions and WorkingRx, is a provider of workers’ compensation prescription programs. SPS has over 60,000 participating pharmacies.
StoneRiver P2P Link is the sister company to StoneRiver Pharmacy Solutions that provides electronic deliveries of medical and pharmacy bills directly to the workers’ compensation carrier amongst others. P2P Link electronically connects information between providers and payors. A provider can be physicians, hospitals, ancillary facilities and other health care providers. A payor means the person by whom a note or bill has been or should be paid.

StoneRiver Insurance Division
StoneRiver provides solutions for policy administration, claim management, billing and reinsurance for Life and Annuity as well as personal and commercial lines, including workers’ compensation.
P&C Policy Administration
Property insurance and Casualty insurance, commonly referred to as P&C. P&C Policy Administration can be described as combining programmed technology, with business rules, IT, and complex product configuration and managing it into an entire product lifecycle. StoneRiver offers P&C Policy Administration products such as Policy STAR® and PowerSuite® Policy. Gartner, Inc. reported that vendors that updated their platforms to be compatible with new platforms (.NET or Java EE) improve business rules and workflow. Gartner recognized Policy Star® in the leading analyst firms report in 2008.
Claim Management
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.
StoneRiver offers claim management solutions such as Claims Workstation and PowerSuite® Claims. Claims Workstation received a rating in Gartner’s report entitled “MarketScope for North American Property and Casualty Insurance Claims Administration Systems.”
Reinsurance
StoneRiver offers two solutions to reinsurance to handle a company’s portfolio: Freedom Reinsurance System (FRS) and Universal Reinsurance System (URS®).
Life, Annuity and Long-Term Care
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. ID3 policy administration, LifeSuite™ automated underwriting and Life Portraits® ES for point-of-sale activities. StoneRiver also provides an electronic applications solution for use with these products.
Financial/Compliance Solutions
StoneRiver’s financial and compliance 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.
RegEd
RegEd Compliance Management
Rep-related compliance management was a homegrown issue until RegEd used its knowledge and experience to develop solutions that simplify complying with regulatory requirements and increase a firm's ability to comply with regulators.
RegEd Licensing and Registrations
StoneRiver licensing and registration offerings are continuously updated from an electronic library of compliance requirements, including SRi, the StoneRiver continuing education tracking and noticing system; CE Central, which manages producer compliance with state continuing education requirements; and RegEd’s service that reconciles state producer data with state and federal records, called Rxconcile.
RegEd Training and CE
Training and CE are founded upon decades of regulatory expertise. StoneRiver’s portfolio of training and continuing education courses and materials was written and maintained by industry experts. RegEd has solutions for corporate or individual programs, for securities or insurance, in a self-study, virtual classroom, or live classroom format. All certificates are stored for a minimum of seven years within the RegEd system.
FSC
StoneRiver’s FSC supports insurance professionals. FSC is insurance software that includes Agents, Broker; General Agencies and Insurance Companies. FSC product line includes comprehensive, comparative rating products for personal and commercial lines, agencies, and web-based quoting.
An insurance Agent are representatives of an insurance company who sells the firm's policies. There are also Independent agents sell the policies of many companies. Agents must be licensed to sell insurance in the states where they solicit customers.
On the other side of the customer equation, a broker is a representative of an insurance, not of an insurance company. The acts of an insurance broker are not the responsibility of the insurance company, and notice given by an insured to a broker is not the same notice as notice to the insurance company. The broker searches the insurance marketplace for a company in which to place the insured's business for the most coverage at the best price. The broker is not restricted to placing business with any one company.

Emerald
Emerald Publications began in 1986 in the financial services industry. Emerald is a provider of web hosting services, seminar presentations, and direct mail for the nation’s financial, investment, and insurance professionals. Emerald develops financial content and then packages it in a variety of formats intended for financial professionals to use in communications with their clients. All content is FINRA reviewed. FINRA is an independent regulatory organization empowered by the federal government to ensure that America's 90 million investors are protected. "Our chief role is to protect investors by maintaining the fairness of the U.S. capital markets."

See Also
National Flood Services
StoneRiver.com
StoneRiver Blog Page
[http://www.facebook.com/home.php?src=fftb#!/pages/StoneRiver-Inc/20209379955?refsearch&sid1017541929.3925954372..1 StoneRiver Facebook]
StoneRiver Twitter
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