2009 StoneRiver Technology Survey Reveals More Projects Focus on Analytics and Business Intelligence
Columbia, SC, August 31, 2009 – StoneRiver, a leading provider of technology and strategic solutions for the insurance industry, announced today the results of its fourth annual survey on P&C insurance technology. The participating companies each identified their top three business needs and their next three large-scale projects. Seventy-four percent reported that one of their next projects would be for analytics or business intelligence. Policy administration or service (highest ranking last year at 87 percent) dropped to second place at 57 percent. Agency interface ranked third (44 percent). Claims projects (39 percent) dropped from second place last year to fourth place this year.
"The agency interface continues to be an important initiative for most carriers,” said Paul Areida, president of StoneRiver – FSC. “As they consider expansion of services to include more real time services to their agents and brokers, the interface into those systems has to be effective and easy to use.”
Eighty-seven percent of the participants reported enhancing overall administrative efficiency as a business driver. Fifty-seven percent reported access for distribution channels as a business need, and optimizing IT operations came in at 48 percent.
Respondents noted that the most important technologies included service oriented architecture/service integration (65 percent) and business process management (61 percent). In this year’s sample, more companies mentioned .NET (48 percent) than J2EE (31 percent) as an important technology.
“The data re-confirms the ongoing focus on executing better and improving overall outcomes for insurers' internal operations. Business intelligence and analytics initiatives will help take this to the next level at many insurers,” said Todd Eyler, chief technology officer of StoneRiver. Survey results can be requested at www.stoneriver.com.
About StoneRiver – Insurance Solutions
StoneRiver – Insurance Solutions 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.
About StoneRiver
Hundreds of insurers, thousands of agents and brokers, and tens of thousands of pharmacies rely on StoneRiver software and processing solutions to achieve a competitive edge. StoneRiver promotes client success by streamlining complex business processes. Visit www.stoneriver.com for more information.
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Additional Contact:
Lori Soppe, VP, public relations
StoneRiver
319-398-0548
lori.soppe@stoneriver.com
