StoneRiver: Difference between revisions
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{{Infobox company |
{{Infobox company |
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| name = StoneRiver |
| name = StoneRiver |
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| logo = [[File:StoneRiver_Logo.jpg|220px]] |
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| type = [[Private company|Private]] |
| type = [[Private company|Private]] |
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| foundation = '''{{Start date|2008}}''' |
| foundation = '''{{Start date|2008}}''' |
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Revision as of 01:07, 2 June 2010
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| Company type | Private |
|---|---|
| Industry | Insurance Technology |
| Founded | 2008 |
| Headquarters | , |
Area served | North America |
Number of employees | 2,500 |
| Parent | Stone Point Capital and Fiserv Incorporated |
| Website | StoneRiver.com |
StoneRiver is a vendor and service provider in the insurance technology marketplace, providing Life/Annuity, Property & Casualty (P&C)/Workers’ Compensation, Reinsurance and Financial/Compliance software and service solutions.
StoneRiver offers solutions for policy administration, claims, billing, reinsurance administration, agency management, client management, and annual statement reporting as well as other financial transactions. Headquarters in Oakland, CA, StoneRiver has locations throughout US including California, Colorado, Florida, Iowa, Missouri, Ohio, South Carolina, and Wisconsin.
History
Prior to July 2008, the business units that comprise StoneRiver were part of Fiserv Incorporated, which was founded in 1984. StoneRiver is a privately held corporation with two principal ownership groups: Stone Point Capital owns the majority of StoneRiver and Fiserv is the minority owner. Stone Point Capital is a private equity firm that has been making investments in the global financial services industry for over 20 years. StoneRiver falls in the Trident IV funds which Stone Point Capital manages.[1] Fiserv, Inc. is a provider of financial services technology, including information management systems, transaction processing, and software and systems solutions.[2]
StoneRiver has areas of industry focus that have been assembled from 22 acquisitions made by Fiserv, Inc. between 1997 and 2007 with eight acquisitions in the Life/Annuity market and eight businesses in the Property & Casualty space. The addition of National Flood Services (NFS) in 2000 marked the company’s entry into the flood market, and the Workers’ Compensation Pharmacy market was entered in 2003 and supplemented with two other acquisitions in 2006 and 2007.
Corporate Structure
StoneRiver has six business units:
National Flood Services (NFS)
National Flood Services (NFS) functions as an insurance management organization serving the insurance industry to support the National Flood Insurance Program (NFIP). NFS actually operates as the Flood Department for a number of insurance companies participating in the federally sponsored NFIP Write Your Own (WYO) Program.
StoneRiver Pharmacy Solutions
StoneRiver Pharmacy Solutions (SPS), formerly Third Party Solutions and WorkingRx, is a provider of workers’ compensation prescription programs that provides electronic deliveries of medical and pharmacy bills directly to the workers’ compensation carrier, connecting providers and payors.
StoneRiver Insurance Division
The Insurance Division provides software products and services in the following areas:
- Financial and compliance for both Property and Casualty (P&C) and Life, Annuity & Long-Term Care Insurance carriers. Designed by statutory accounts, the applications comply with cash, statutory, and GAAP requirements. In 2009 Novarica provided and ACE Ranking report on PTE Financial, and in 2010 PTE received Novarica and TechDecions Rave Award.[3][4]
- P&C Policy administration.”[5]
- P&C Claim management.”[6]
- P&C Reinsurance Administration[7]
- Life Insurance, Life annuity, and Long-term care policy administration
- Life, Annuity and Long-Term Care sales illustrations
- Life, Annuity and Long-Term care automated underwriting
RegEd
Reged is a provider of solutions for compliance management, licensing and registration, and training and continuing education for an insurance carrier’s representatives/agents.
FSC
FSC is a provider of comparative rating products for automobile, homeowners and dwelling/fire lines insurance agents, brokers, and general agencies that produce web-based quoting for insurance policies. In addition, FSC produces various agency automation tools such lead generation and agency management systems.
FSC was founded in 1980 and was acquired by Fiserv, Inc. in 2001. In 2008, FSC was one of the business units that formed StoneRiver, Inc.
Emerald
Emerald provides web hosting, presentations and direct mail services. All content is FINRA reviewed.[8]
References
- ^ Trident Funds Retrieved on 2010-5-28
- ^ Insurance and Technology Retrieved on 2010-5-10
- ^ Novarica Retrieved on 2010-5-10
- ^ TechDecisions/Novarica Retrieved on 2010-05-24
- ^ Insurance and Technology Interview Retrieved on 2010-6-1
- ^ Gartner Report Retrieved on 2010-5-26
- ^ Client of Reinsurance Retrieved on 2010-6-1
- ^ FINRA Retrieved on 2010-5-20