"The name StoneRiver was selected because it symbolizes strength and transformation," said Mark Damico, President and CEO of Fiserv Insurance Solutions. âWe are a company with strong values, integrity, and thought leadership with a track-record of commitment to long-term successful partnerships and to industry-leading innovation. This is an exciting time for our employees, business partners and our loyal customers. We thank them for supporting our transition and look forward to a productive future together at StoneRiver.â
In July, 2008, Fiserv Insurance Solutions announced that Trident IV, a private equity fund managed by Stone Point Capital LLC, acquired a 51 percent interest in the insurance businesses of Fiserv, Inc. Fiserv Insurance Solutions will continue to operate under its current name until March 2, 2009 when the formal transition to StoneRiver will occur. Future steps to launch the new brand will include a new logo and corporate web site, which will be rolled out progressively through 2009.