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SOURCE StoneRiver, Inc.
New StoneRiver offering for workers' compensation policy administration and/or claims is valued by the mid-market for a best-in-class and integrated suite
OAKLAND, Calif., Feb. 26, 2013 /PRNewswire/ -- StoneRiver, Inc., the trusted insurance technology partner with solutions across multiple business lines, today announced the introduction and immediate availability of CompSuite, StoneRiver's new generation Software as a Service (SaaS) solution for workers' compensation. CompSuite is uniquely positioned to address the Workers' Compensation business needs of the mid-market insurance carrier and Third Party Administrator and Managing General Agency initiatives.
CompSuite claims and policy administration components can be implemented individually or as a fully integrated workers' compensation policy administration and or claims solution. Two clients went into production on the CompSuite solution in the months of December 2012 and January 2013 respectively. Both clients are longtime customers of StoneRiver with previously realized value on the Workers' Compensation Management System (WCMS) platform.
Commenting on the introduction of CompSuite, Lee Herzer, Vice President of Operations at CompServices Inc. said, "we are excited to see the official launch of CompSuite and have appreciated the opportunity to work closely with StoneRiver on the new offering. We've been a long time user of StoneRiver's WCMS solution and have the utmost confidence in StoneRiver's dual expertise in workers' compensation processing and technology. It's a powerful combination when an insurer is looking for a solution provider to partner with to modernize their workers' compensation operations."
Mr. Herzer continued, "We are proud to report that the CompSuite implementation effort was successful in facilitating our now production use of CompSuite, as of January 2013."
Using the proven and widely implemented StoneRiver WCMS solution as the development template, CompSuite includes all the same industry proven capability and functionality with some key features and additions, including:
Gary Anderson, StoneRiver president and CEO, said, "CompSuite is a great example of what can be accomplished when a solution provider and insurers effectively partner, combine complementary areas of expertise, and focus on a common objective. The dialogue with our clients and their honest and insightful feedback continues to help us drive the direction and priorities for our product development and enhancements efforts. We look forward to migrating existing WCMS clients to the new offering, while we engage additional workers' compensation insurers to join the CompSuite user community."
Along with on-boarding new clients, existing StoneRiver WCMS clients are being offered an attractive migration path to the new solution. The remaining 8 early adopters in the partners in development initiative of the CompSuite solution will go into production throughout 2013. StoneRiver will continue to provide support for the WCMS platform as all clients are migrated to CompSuite over time.
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.
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