OAKLAND, Calif., March 21, 2013 /PRNewswire/ -- StoneRiver, Inc., the trusted insurance technology partner with solutions across multiple business lines, today announced the immediate availability of its Unclaimed Property Advocacy Services (UPAS). UPAS is the latest addition to StoneRiver's comprehensive portfolio of unclaimed property products and services designed to provide the industry's most complete end-to-end unclaimed property offering.
Managing unclaimed property can be an overwhelming process with real consequence for noncompliance. With no statute of limitations governing unreported property, companies can unknowingly incur liabilities by not gaining control over this critical activity. StoneRiver unclaimed property advisory services offer strong support for companies facing situations that call for experience and best practices. StoneRiver understands how to help companies avoid negative consequences.
StoneRiver is uniquely qualified to enhance and solidify Unclaimed Property compliance through deep and diverse experience across a large customer base that provides valuable perspective for challenging business issues. StoneRiver continually fosters its close working relationship with the state legislative bodies to ensure StoneRiver software meets expectations and supports StoneRiver customers to obtain and maintain full compliance.
StoneRiver UPAS core services include:
- Exposure quantification to assess current UP liability
- Exemption analysis and liability reduction
- Strategies to approach reporting jurisdictions
- Voluntary Disclosure Agreements (VDA) and advocacy
- Development and implementation of internal UP programs, policies and procedures, controls and best practices
- Audit defense
- Compliance reporting services
- Project management
The new UPAS further strengthens StoneRiver's market position as the most highly respected leader in unclaimed property, serving the industry for over 20 years with 1,000 companies currently utilizing StoneRiver's TRACKER® unclaimed property software to remain compliant.
Dori Luke, StoneRiver's Senior VP of Financial and Compliance Solutions, commented, "Our new Unclaimed Property Advisory Services were a natural extension to our existing UP practice. Combining our 20+ years of service to the industry with such a comprehensive portfolio of unclaimed property products and services, we feel StoneRiver is better positioned than anyone else in the market today to help companies meet any unclaimed property need they may have."
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.