StoneRiver Expands Longstanding Relationship with FICO
Leading Business Rules System available with P&C Products
Columbia, SC, November 9, 2009 – StoneRiver, a leading provider of technology and strategic solutions for the insurance industry, has expanded its long-standing relationship with FICO (NYSE: FICO), the leading provider of analytics and decision management technology. StoneRiver has embedded FICO™ Blaze Advisor® as the business rules management system into the core of its new insurance solution framework called Project Ignition. This new partnership expands an existing relationship with FICO to now include Blaze Advisor as an integral part of the overall StoneRiver insurance product portfolio.
“Blaze Advisor is a highly innovative and valuable rules engine that provides strategic advantages when paired with StoneRiver products,” remarks Gary Sherne, president of the Insurance Division of StoneRiver. “Along with the market leading functional richness of StoneRiver products, the integration of FICO’s rules management technology and decision engine allows our clients to manage their specific rating and processing rules efficiently and consistently.”
This service is an important strategic enhancement because FICO Blaze Advisor enables insurance carriers to formulate and maintain many of their own business and processing rules without using specialist IT resources. The three major areas of use of the Blaze Advisor Rules Engine services in StoneRiver’s next generation product suite are: user interface edits and controls, business services processing and control logic, and system administration functions.
“Leading insurers across the globe choose Blaze Advisor for its superior agility and precision,” says Bill Waid, vice president of sales at FICO. “In this environment, StoneRiver’s clients want to take control of their business performance by empowering their business users to manage their own rating and processing rules. Blaze Advisor enables them to do that and get ahead of their competitors.”
“Being rules-based and configurable is a critical requirement for modern insurer systems, and Blaze Advisor is one of the most widely used rules engines in the insurance industry,” commented Matthew Josefowicz, director of the insurance practice at industry research and advisory firm Novarica. “StoneRiver is taking an important step in ensuring that their solutions meet client needs with this partnership.”
About FICOM
FICO (NYSE:FICO) transforms business by making every decision count. FICO’s Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with FICO to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. FICO also helps millions of individuals manage their credit health through the www.myFICO.com website. Learn more about FICO at www.fico.com.
About StoneRiver
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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Contact:
Lori Soppe, VP, public relations
StoneRiver
319-398-0548
lori.soppe@stoneriver.com
