StoneRiver Blog

What Every Carrier Expects from Software Providers

Terry Kraft
Terry Kraft
Account Management Executive
StoneRiver

On a list of Top 10 Expectations, we’d estimate that virtually every insurance carrier would include high quality. And any software provider that wants a strong financial future wants to deliver high-value, high-quality software. The reality is, however, that not all providers meet those expectations.

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4 Common Pitfalls When Evaluating Solutions

Terry Kraft
Terry Kraft
Account Management Executive
StoneRiver

Articles in insurance-related publications point out repeatedly that insurers don’t do major system replacements on a frequent basis. So there might be more than a few issues that surface when it’s time for evaluation of a replacement system.

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Together Toward Tomorrow’s Talent Challenge

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Emily Mertz Emily Mertz, Director of Marketing

I am proud to announce this year’s Summit theme as ‘Together Toward Tomorrow’. The future has always been an important focus, but with the rapidly changing technologies, business models and workforce, it seems to have an even heavier importance. Our goal as partners with our clients is to move together toward tomorrow.

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Unraveling Schedule F and Reinsurance Processing

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Sue Peirce Sue Peirce, AVP - Reinsurance Operations

Anyone who has been in the insurance industry for 10 years or more probably remembers some processes that were more manual and time-consuming in their early days. David Morales of our Reinsurance staff is no exception.

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Don’t Be Offended by the “Why” During Claims System Configuration

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Terry Walker Terry Walker, Pre-Sales Engineer

As you face a claims system modernization or replacement at your company, what can you do to make the project go more smoothly? For nearly 15 years, I have worked with clients in that situation: A claims system replacement project was looming or already underway.

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What’s the Ideal Life Insurance Buying Experience?

Jason Kozlowski Jason Kozlowski, Lead Business Consultant

In 2011 industry analyst firm Strategy Meets Action (SMA) said that the Life insurance industry was on the cusp of a shift in thinking, attitude and action when it came to automated underwriting.

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Spring Reporting Cycle Is Just Around the Corner – 7 Tips for Successful Reporting

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Christa DeOliveira Christa DeOliveira, CIA, CCEP

With the fall reporting season behind us and the hustle and bustle of the holiday season upon us, it could be easy to lose sight that the spring reporting season, especially due diligence activities, is just around the corner.  To survive and thrive through another reporting cycle here is a quick guide for successful reporting:

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TRACKER® Unclaimed Property Compliance: What is new?

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Christa DeOliveira Christa DeOliveira, CIA, CCEP

The latest release of TRACKER®, available on September 4, 2013, contains a host of compliance updates. Compliance updates are vital in the ever changing unclaimed property arena and are essential with assisting to keep our users on top of unclaimed property compliance. As might be expected there are a number of typical changes including dormancy period changes, activations and deactivations of property ID codes, state contact information updates, mailing address changes, and functional enhancements.

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Update on States Adopting Legislation Related to Unclaimed Life Insurance Benefits

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Christa DeOliveira Christa DeOliveira, CIA, CCEP

As noted in several previous blog postings, states are passing legislation related to unclaimed life insurance benefits.   The common link of these laws is that they have provisions requiring searches using the Social Security Death Master File (SSDMF).  Specifically requiring for life insurers to conduct searches comparing the SSDMF to insureds of in force policies and retained asset account owners to identify matches.  For any potential matches identified there are requirements to make efforts to find the beneficiaries, to confirm the death of the insured, and assist beneficiaries in claiming any applicable policy proceeds or retained asset account amounts.  Another similar theme is the laws generally include references to policy information that would be necessary to complete a successful search, such as SSN, complete name, date of birth, beneficiary designation, etc.

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How Far Has Automated Underwriting Come?


Jerry Whetnall
Director Life Product Management
StoneRiver

Has automation of the Life underwriting process moved from the ‘nice to have’ phase to table stakes necessary to stay in the game? Industry trends indicate that automation has reached the majority adopter phase with more carriers having automated underwriting than not. Life IT spend projections show carriers committing upwards of 10% or more of their budgets to these systems.

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