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Tech Directory Product Detail

StoneRiver LifeSuite Underwriting and Case Management

StoneRiver, Inc

Contact: Emily Mertz, Address: 4601 DTC Blvd., Suite 200, Denver, CO, USA, 80237, Phone: 800-943-2851, Email: solutions@stoneriver.com, Website: www.stoneriver.com

Product Description:

LifeSuite is a leading web-based new business and automated underwriting software solution, which builds upon over a decade of experience in the marketplace. LifeSuite streamlines your entire new business process from application receipt through coverage approval, providing the most efficient and consistent automated underwriting solution available today. LifeSuite’s unparalleled suite of tools helps maximize your organization’s effectiveness, facilitating decreased time to issue, increased growth and a reduction in policy acquisition costs. LifeSuite automated underwriting is backed by an industry leading team of support professionals with a proven track record of success. Our experienced team is committed to understanding your needs and successfully implementing LifeSuite into your company’s business model.

LifeSuite is an extension of your new business and underwriting staff. LifeSuite’s integrated suite of tools will help you manage a new business case from application to issue and streamline the new business process.

LifeSuite empowers an underwriter to make an “underwriter call” when their judgment so dictates making an exception to the defined rules. LifeSuite will help reduce much of the clerical work associated with the new business and underwriting process. It will help free up your new business and underwriting staff so that they can be more productive, work more cases per day and be able to focus more of their time on the more complex cases.

LifeSuite easily exchanges data with multiple evidence providers using industry accepted open communication formats. LifeSuite maintains a comprehensive audit trail of underwriting decisions. A wealth of historical information can be mined from LifeSuite’s database using user-friendly reporting tools.

LifeSuite’s value proposition:

  • LifeSuite on the web maximizes the flexibility, effectiveness and the reach of an organization — work-at-home and work-remote become viable options. A web deployment also serves to reduce deployment and maintenance costs and your overall cost of ownership.
  • LifeSuite is an enterprise-wide solution that acts as a single point-of-service “umbrella” for managing new business application capture, workflow, risk assessment, requirements management and vendor connectivity for multiple lines of business.
  • LifeSuite can serve as the front-end to multiple legacy systems. It can help enable legacy systems with a browser front-end that incorporates feature and functionality rich business enabling tools. LifeSuite can help extend the life of your legacy policy administration systems and help reduce the need for you to upgrade legacy systems and go through expensive conversions.
  • LifeSuite integrates key new business and underwriting activities and business rules into one web based package to yield accurate and time sensitive risk assessment and classification.
  • LifeSuite’s sophisticated rules engine is an integral part of its underlying architecture. The rules engine supports the rapid development of data validation and underwriting rules by a non-technical user, and without the need to compile programs. The ability to jet-issue (clear case) cases is fully supported by LifeSuite.
  • LifeSuite’s underwriting engine will help bring consistency to the underwriting process and help ensure accurate risk classification, reduce not-taken rates and underwriting errors, reduce time service, and increase distribution channel and customer satisfaction.
  • LifeSuite incorporates powerful, business focused, non-technical user enabling tools — the result is a low initial and on-going cost of ownership, a quick ROI and a fast deployment.
  • LifeSuite’s flexible architecture and use of Acord/XML standards allows for ease of integration with third-party legacy policy administration systems and various database platforms.
  • LifeSuite serves as an effective training tool for new business staff and underwriters. With LifeSuite’s consistency in underwriting and checks and balances, even junior underwriters can work the more complex cases.