STONERIVER ADDS CAPABILITIES TO WORKERS' COMP SOLUTION
StoneRiver, Brookfield, Wis., reports that Web Quote and Template Underwriting features are now available as an optional extension to its PowerSuite Enterprise workers' compensation solution.
Web Quote has been designed for both agents and insureds to use, and offers a rules-governed, full, straight-through-processing capability from initial quote through full issuance of workers' compensation policies.
The StoneRiver solution eliminates unnecessary information that agents typically must sift through. Instead, StoneRiver chose to integrate the agent or insured into the underwriter workflow and notification processes so underwriters can track progress and respond to any further requests.
"This approach smoothes the communication between agents and underwriters, ensures process confidentiality where appropriate, and dramatically reduces the integration costs and maintenance requirements of other solutions," noted Rodney Griffin, SVP of product management for StoneRiver.
Carrier-defined questions allow Web Quote to properly evaluate the risk based on the defined profile. Even if a quotation "breaks out of the underwriting box," the case is not abandoned. Data entry is completed and referred to an underwriter for further processing. The user interface is designed for an untrained insured or agent to master with ease, while offering the ability for companies to add their own branding.
PowerSuite now offers a set of beyond-the-firewall capabilities, including certificates of insurance, Web payroll reporting, Web payments, remote auditor, first report of injury and Web claims tracker.
A SUITE TO EASE WORKERS' COMP REPORTING AND DATA MANAGEMENT
To help carriers effectively deal with growing workers' comp reporting and data-management challenges, ISO, Jersey City, N.J., offers wcPrism - a suite of data management and compliance solutions.
From a single transactional data feed, the wcPrism suite can handle all of your reporting needs for unit statistical, FROI and SROI, detailed medical, aggregate financial, policy, detailed claim information, individual case, and proof-of-coverage reporting.
In addition to the reporting solutions, the wcPrism suite also features the Executive Analytic Solutions Engine (EASE), an analytical and report-writing tool accessed through a standard Web browser. With EASE, carriers can use their own compliance data to perform strategic analysis without the need to tap IT resources.
(c) 2009 Insurance Networking News and SourceMedia, Inc. All Rights Reserved.
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