OAKLAND, Calif., March 4, 2014 /PRNewswire/ -- StoneRiver, Inc., the insurance technology partner with solutions across multiple business lines, today announced that Bear River Mutual Insurance Company is in production with Personal Auto for Policy and Billing Management. This initiative also included a collaborative portal effort between Bear River Mutual and StoneRiver, integrating with Bear River Mutual's web services and processing framework. The integration was fully accomplished using the base system software and configurations.
Bear River Mutual of Murray, Utah, licensed StoneRiver's Policy STAR® and FAB Billing solutions, ultra-configurable systems for policy administration and billing. Bear River Mutual is Utah's largest auto and home insurance company based in the state. The company also provides fire and umbrella coverage.
StoneRiver's Policy STAR continues to provide value for customers through a flexible, intuitive policy administration system designed to empower customers in a dynamic, insurance business environment. Bear River also implemented a robust Agent Portal that leverages Policy STAR web services. This portal extends much of the Policy STAR functionality to the agency level. Agents are able to directly create, amend, and cancel policies in the Policy STAR application.
Commenting on the StoneRiver implementation, Don Adams, president of Bear River Mutual, said, "The value of StoneRiver as a partner has allowed us to continue improvements in agency and home office efficiency; the customer intimacy we've built with StoneRiver has allowed us to position Bear River Mutual for growth as well."
Adams continued, "Policy STAR and FAB solutions have been key to updating Bear River Mutual infrastructure that enables us to achieve our business expansion goals. Our objectives include becoming easier to do business with from an agent's perspective and writing business more quickly."
A sampling of the benefits Bear River Mutual is experiencing with the StoneRiver environment now in production include:
- Exposes Policy STAR application suite to allow application processing to be generated by the agent and still be part of the StoneRiver application structure
- Integrates the portal seamlessly with other disparate system processes, as well as having a sophisticated underwriting rating and approval process
- Includes portal functionality for the agent to create multiple comparative or "what if" policy rating scenarios
- Promises to be a great success for Bear River Mutual and its agents by providing convenient access to policies, as well as flexibility and efficiencies gained through the portal
- Provides inquiry into the current lines of business (auto, home, dwelling property, and umbrella)
- Allows for the entry of new business requests by agents
- Facilitates the modification/cancellation of existing policies by agents
Gary Anderson, president and CEO of StoneRiver, noted, "Bear River Mutual has a solid vision and emphasis on core processing solutions rich in strong, functional capabilities. The Policy STAR and FAB solutions allow the company to develop virtually any type of product or billing plan quickly. We are excited to hear that Policy STAR remains the standard in the industry for customer value and bedrock for future growth as well."
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.
About Bear River Mutual Insurance Company
Bear River Mutual Insurance Company celebrated its 104-year anniversary in August 2013. Bear River Mutual is one of Utah's largest and oldest Auto and Home insurance companies, and writes over $100 million in premium in the state of Utah.
According to Bear River Mutual's President Don Adams, "Much of Bear River Mutual's success has been based on the fact that it caters only to the Utah community and is therefore able to provide more personalized service."
Bear River Mutual was founded in 1909 by a group of farmers that came together to form a cooperative company that would provide insurance coverage at reasonable prices. At the time, the concept of a co-op, wherein participants shared the risk, was not commonplace. As a result, it took two years of lobbying efforts within the State Legislature to finally turn Bear River Mutual's co-op business into a reality. The farmers who originally made up the co-op shared similar values and concerns, and were looking for insurance policies that were less expensive than others in the marketplace at the time. Initially, Bear River Mutual insured against losses caused by fire and lightning. In 1930, auto insurance was introduced, and in 1950, homeowners' insurance was offered.
Visit BearRiverMutual.com for more information
SOURCE StoneRiver, Inc.