DENVER, April 30, 2015 (GLOBE NEWSWIRE) -- StoneRiver, Inc., the trusted insurance technology partner with solutions across multiple business lines, today announced the availability of FRS as a hosted application for use by new or existing customers. The hosted application allows clients to focus their IT resources on core systems and strategic initiatives. Hosting FRS also provides capability for reinsurance automation to companies with limited IT resources.
FRS provides a cost-effective method of automating core aspects of the reinsurance process. It is designed to meet the ceded reinsurance processing needs of property-casualty insurers, from calculating premium and claims cessions to producing the data required for Schedule F. The ease of configuration, as well as the price point, makes FRS a very attractive offering to the small and mid-size insurance market. The pricing model offers a predictable monthly fee for a defined database size.
Added benefits of FRS hosted application includes:
- FRS releases maintain current regulatory changes.
- Quick and easy access to reinsurance data
- Minimal IT support or hardware / software required from client to support the FRS reinsurance function
- Access to StoneRiver operational expertise
- SSAE16 certified data center and hosting services
- Disaster recovery / business continuity included in hosting relieves client's IT department from creating and managing these plans for reinsurance
- Reliability
- Overall reduction in reinsurance close cycle
- Overall reduction in costs to support the reinsurance function
StoneRiver continues to extend the use of reinsurance software to the larger market base and recognizes that lack of technical resources can be an impediment. The FRS hosted offering provides the capability for many more insurers to take advantage of reinsurance automation.
"We believe this offering will be a great value to small and medium-size insurance companies with stretched IT resources," said Tom Chesbrough, StoneRiver SVP Sales, Marketing and Client Services. FRS is an award-winning product used in production by more than 70 companies. It's a proven solution now offered as a hosted solution.
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 and reinsurance 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.