OAKLAND, Calif., May 28, 2013 /PRNewswire/ -- StoneRiver, Inc., the trusted insurance technology partner with solutions across multiple business lines, today announced that a Tier 1 insurer and industry sales leader of indexed annuities and indexed life insurance is now in production with StoneRiver's enhanced version of Life Portraits. After selecting StoneRiver as a vendor of choice for Indexed Annuity Product Illustrations, the company worked closely with the StoneRiver team and was instrumental in the definition and development of the enhanced Life Portraits product, as recently introduced at the ACORD LOMA Forum in Las Vegas.
Prior to the implementation of Life Portraits, the insurer did not offer illustrations for its Indexed Annuity products. With the system now in production, the company is able to provide Indexed Annuity illustration capabilities to its Independent Marketing Organization partners for efficient and effective illustrations in support of the sales process.
Additional beneficial features being derived from the enhanced version of Life Portraits include:
- The ability to work on multiple clients/illustrations concurrently
- Cross browser support for Chrome, Firefox, Safari and multiple versions of IE
- Support for iPad and Android tablet devices
- Illustrations compliant with new IA State Annuity Model regulations
- Single sign-on capabilities with ability for multiple Agent IDs
- Dynamic distribution channels with automatic email notification
- Tracking Database to track various system user metrics
- Self-managed data updates
- New functionality such as Message Center, Quick Links for "Annuities 101" training presentations and Brainshark
- Ability to select/apply multiple withdrawal types with simultaneous non-level distributions
- Index allocation options and strategies
- Bonus/recapture logic
- Customized supplemental reports, meeting the sales and distribution needs of distribution partners
- Robust graphs and charts
Jim Woodward, StoneRiver Senior Vice President Life Solutions, noted, "We have enjoyed a long and successful relationship with this StoneRiver client --- a relationship that has spanned more than 30 years. In that time, we have done a lot of work with the company, including working with them to build our new Life Portraits offering. Their input and guidance were invaluable as we defined and developed the product that now enables illustrations for its Indexed Annuity products. This effort has truly proven to be a win for both organizations and we look forward to continuing our work to expand their product portfolio and to help them take full advantage of the new capabilities StoneRiver offers."
Life Portraits is an end-to-end solution from point-of-sale to e-submission of the application, providing access anywhere, from the field to home or office in a complete electronic environment. Life Portraits modules create a customized marketing suite that fits the way insurance products are sold today and easily adapts to help carriers take advantage of opportunities tomorrow. Life Portraits is designed to strengthen relationships, speed the sales process and ensure compliance.
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.