CompSuite, a SaaS application for workers' compensation, is now available from StoneRiver Inc. The new suite is intended to address the workers' compensation business requirements of mid-market insurers, third-party administrator and managing general agencies.
Claims and policy administration components can be implemented as modules, or as an integrated work comp policy admin/claims application, according to Stone River, and two insurers have gone into production with CompSuite since December 2012. Both are long-time customers, with previous implementations of Stone River’s Workers' Compensation Management System (WCMS) platform.
"We are excited to see the official launch of CompSuite and have appreciated the opportunity to work closely with StoneRiver on the new offering,” said Lee Herzer, VP of Operations for CompServices Inc. “We've been a long time user of StoneRiver's WCMS solution and have the utmost confidence in StoneRiver's dual expertise in workers' compensation processing and technology. It's a powerful combination when an insurer is looking for a solution provider to partner with to modernize their workers' compensation operations."
Using the WCMS application as the development template, CompSuite includes the same capabilities and functions with several new features, including:
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"CompSuite is a great example of what can be accomplished when a solution provider and insurers effectively partner, combine complementary areas of expertise, and focus on a common objective,” said Gary Anderson, StoneRiver president and CEO. “The dialogue with our clients and their honest and insightful feedback continues to help us drive the direction and priorities for our product development and enhancements efforts. We look forward to migrating existing WCMS clients to the new offering, while we engage additional workers' compensation insurers to join the CompSuite user community.
