StoneRiver, a leading provider of strategic core operational solutions for the insurance industry, announced today that the Billing Stream - Direct solution is generally available. Agency billing capabilities will be added this summer. The new Billing Stream solution is a component of the StoneRiver Streamâ¢ solution set, an enterprise insurance administration solution built on the industryâs most advanced service-oriented architecture with an embedded enterprise service bus. The highly customizable, rich Internet user interface has been optimized to provide an exceptional user experience that focuses on ease of use, speed and web effectiveness.
The Billing Stream solution maximizes real-time processing and supports standard direct bill functionality, including single policy- and account-level billing, and multiple payment options, such as electronic funds transfer, credit cards, mortgagee billing, and payroll deduction. Given StoneRiverâs market-leading expertise, the property-casualty billing solution also includes strong Workersâ Compensation capability.
Flexibility to define installment plans and payment options is a primary focus so that carriers can customize for their customers. Controlling these comprehensive capabilities are enhanced workflow and business process management functionality to manage, optimize and load balance billing operations. The Billing Stream solution provides a full graphical workbench with dashboards for every level from clerical staff to executives. Appropriate key performance indicators (KPIs) on workloads and throughputs are also provided. In addition, the new Billing Stream solution includes functionality for web presentment and payment of bills, eliminating the paper required in traditional billing methods.
âThe Billing Stream solution addresses a carrierâs need to respond quickly, decide wisely, and grow intelligently,â said President of StoneRiver â Insurance Solutions, Gary Sherne. âWe capitalized on our substantial internal insurance billing knowledge, loaded powerful tools to address business problems, and built on a market leading architecture that eases integration issues. The Billing Stream solution represents a major improvement over the billing solutions currently on the market.â