OAKLAND, Calif., March 28, 2012 /PRNewswire/ -- StoneRiver, Inc., the trusted insurance technology partner with solutions across multiple business lines, today announced that it has received a Novarica ACE Silver Ranking for its Freedom Reinsurance System (FRS). Earning an overall ranking of 93 out of a possible 100, StoneRiver's FRS earned the top score among all ACE ranked reinsurance systems.
The report, Novarica ACE Silver Ranking™: StoneRiver FRS (2012 Q1), is based on an online survey of five senior technology and operational executives at insurer clients who have direct experience with the StoneRiver product and organization. Novarica ACE Rankings are produced independently and are not sponsored by vendors. In addition to its overall top score of 93, StoneRiver's FRS also ranked highest in four subcategories with the impressive scores of 95 for Overall Customer Satisfaction, 94 for Technology, 89 for Functionality, and 92 for Organization.
"StoneRiver's clients have given the company an impressive ACE Ranking for its Freedom Reinsurance Solution. We congratulate them on this outstanding recognition," said Matthew Josefowicz, partner and managing director of Novarica.
According to the Novarica report, 100% of StoneRiver participating in the FRS survey indicated StoneRiver's:
- support staff is very knowledgeable about the industry, the product, and is highly responsive to the client's needs; and
- product is scalable to the client's needs and uses technology that the client staff can understand and can support.
Commenting on the recognition, StoneRiver president Gary Sherne, said, "We are pleased with our overall score as well as the Silver status for our ranking. It is especially gratifying to be ranked top among reinsurance systems. Given that the Novarica ACE Ranking is based solely on client feedback, it helps to us to better understand where we are meeting expectations and delivering on our promises to our customers. But, just as important, if not more important, the ranking details help us to determine where we should be focusing additional effort to earn an even higher ranking from our clients the next time."
StoneRiver's Freedom Reinsurance System (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 when an insurer wants accuracy, reliability and peace of mind.
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.
SOURCE StoneRiver, Inc.