DENVER, CO--(Marketwired - January 11, 2017) - StoneRiver, Inc., the trusted insurance technology partner with solutions across multiple business lines, today announced that SCOR has launched in Asia Pacific StoneRiver's LifeSuite®, the automated Life underwriting system that drives straight-through automation and operational efficiencies.
SCOR's Life team expanded its Paris installation of LifeSuite to reduce manual reinsurance underwriting processing and ease remote underwriting. LifeSuite is a powerful vehicle to help accelerate and support SCOR 's expected Life business growth in Asia Pacific.
Underwriter satisfaction is a critical success metric and area of excellence for SCOR, and the reinsurer anticipates that LifeSuite will provide faster turnaround times, more consistent underwriting decisions and higher underwriter and cedent satisfaction.
This initiative further demonstrates the powerful ability of LifeSuite to transition from a direct carrier underwriting solution to that of a global reinsurer. Supporting multiple carriers, insurance products and users with diverse language needs are differentiating factors of the SCOR implementation and expansion.
StoneRiver Executive Chairman Thomas Burke added, "We are proud to be deepening our relationship with SCOR, which is a signal of their faith in StoneRiver. Maintaining our track record of successful implementations is a contributing factor in the adoption of LifeSuite in the automated underwriting marketplace."
LifeSuite is an award-winning, web-based new business and automated underwriting system that drives straight-through automation. LifeSuite streamlines the entire new business process from application receipt through coverage approval, providing the most efficient and consistent automated underwriting solution available. LifeSuite's suite of tools helps maximize an organization's effectiveness, facilitating decreased time to issue, increased growth and reduced policy acquisition costs.
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, and reinsurance 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.
SCOR, a global tier 1 reinsurer with total premiums of EUR 13.4 billion and a balance sheet of more than EUR 41.6 billion assets in 2015, is an independent global reinsurance company, aiming to develop its Life & Health and P&C business lines, to provide its clients with value-added solutions and to pursue an underwriting policy based on profitability, through effective risk management and a cautious investment policy. The Group gathers more than 2,500 employees worldwide in its 38 offices spread throughout all 5 continents. For more information: www.scor.com.