OAKLAND, Calif., July 10, 2012 /PRNewswire/ -- StoneRiver Inc., the trusted insurance technology partner with solutions across multiple business lines, today announced that it has won a 2012 RAVE Award in the Reinsurance Administration category. StoneRiver's Freedom Reinsurance System (FRS) earns top honors.
Co-sponsored by Tech Decisions magazine and industry research and advisory firm Novarica, the RAVE Awards are designed to recognize those software solution providers who demonstrate a willingness to go the extra step for their customers. The RAVE Awards are based on Novarica's Average Customer Experience (ACE) rankings, determined based on online surveys of senior technology and operational executives at insurer clients who have direct experience with the solutions.
"We congratulate StoneRiver on the RAVE recognition. The RAVE Awards recognize those solutions, like StoneRiver's Freedom Reinsurance System, that are delivering exemplary value to their customers as measured by those customer themselves. The StoneRiver system received an impressive overall ranking of 93, earning it the top spot among reinsurance administration offerings," said Matthew Josefowicz, Partner and Managing Director for Novarica.
Jim Daggett, Publisher of Tech Decisions, added, "We are pleased to once again partner with Novarica to honor insurance software solution providers like StoneRiver who have demonstrated superior value to their customers. StoneRiver ranked well in all areas surveyed including 100% of those surveyed recognizing StoneRiver's knowledge of the industry and product, and responsiveness to client's needs. These are the kind of qualities that determine RAVE Award winners."
Commenting on the RAVE Award, StoneRiver President and CEO Gary Sherne said, "This is a great win and much appreciated recognition for the entire StoneRiver team, especially given that it is based solely on feedback from our customers. We will continue to work diligently to focus on the needs of our customers to not just maintain our high ranking, but to exceed it. Our thanks to both Tech Decisions and Novarica for sponsoring the RAVE Awards and for their continued efforts in keeping the insurance industry well informed."
FRS is a reinsurance administration system designed to meet all the ceded reinsurance processing needs of property‐casualty insurers. From calculating premium and claim cessions to producing information required for Schedule F, FRS handles complex calculations and labor-intensive tasks easily and quickly. Given regulatory requirements and the size of recoveries, true automation like FRS is a necessity if you want accuracy, reliability and peace of mind.
Novarica provides information, insights, and perspective on markets, operations, and technology to financial services and insurance executives. The company delivers its service through published research, retained advisory services, and project-based consulting. Novarica's research includes market and trend analyses, best practices research, case studies, and independent analyses of insurance software vendors. Novarica draws its knowledge from the personal experience of its principals, the ongoing information-gathering initiatives of dedicated research staff, and regular communication with insurer executives through informal networks and through the Novarica Insurance Technology Research Council, a community of more than 300 insurer CIOs and senior executives. For more information, please visit www.novarica.com.
About Tech Decisions
Tech Decisions, published by Summit Business Media, guides top-level insurance technology and business professionals in managing their companies' systems on a day-to-day basis and informs their decision-making for the future. Tech Decisions helps readers leverage time-tested as well as leading-edge technology products, systems, and strategies -- and in making the best decisions to fulfill the business and profitability needs of today's insurance and financial services marketplace. For more information, please visit www.tech-decisions.com.
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. Thousands of companies rely on StoneRiver software and processing solutions to achieve a competitive edge, with 18 of the top 25 insurance carriers leveraging the use of a StoneRiver system. Visit www.stoneriver.com for more information.
SOURCE StoneRiver, Inc.