DENVER, April 9, 2015 (GLOBE NEWSWIRE) -- StoneRiver, Inc., the trusted insurance technology partner with solutions across multiple business lines, today announced Version 8.0 of LifeSuite Automated Underwriting. The new version is available now and provides the latest set of product advancements, MIB enhancements, and integration to Milliman RxRules.
With several StoneRiver, Inc. clients already committed to installing Version 8.0, this new version of LifeSuite further demonstrates StoneRiver's commitment to providing a feature-rich and functionally superior automated underwriting system.
Added functionality of LifeSuite 8.0 includes:
- Integration to Milliman RxRules, which interprets applicants' Rx data to identify likely medical conditions and severity.
- RxRules applies the client's underwriting guidelines (based on the identified conditions) to enable consistent and efficient underwriting decisions for fully underwritten and simplified issue cases.
- Enhanced MIB Code interrogation.
- MIB Plan-F reports.
- Automated MIB Code filtering requests.
- MIB WEB-EVT (Edit, Validate and Translate) code backs.
- Underwriter Review Message Organizer.
The goal of LifeSuite 8.0 was to focus on further automating and enhancing overall capabilities for requesting, processing and responding to MIB data, an often repeated, critical first step for accurate risk assessment in life underwriting workflows. Furthermore, the integration of Milliman RxRules with LifeSuite provides the ability for users to take advantage of Milliman's expertise in creating and managing rules for prescription histories, further enhancing and speeding the sale-to-issue process.
"We are excited to release this new LifeSuite version with MIB enhancements and Milliman integration. I believe it's safe to say our clients are excited too, as many upgrades are underway," said Jim Woodward, StoneRiver SVP Life Carrier Solutions.
LifeSuite is an award-winning, web-based new business and automated underwriting system that drives straight-through automation, streamlining the entire new business process from application receipt through coverage approval, providing the most efficient and consistent automated underwriting solution available.
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.
About MIB
MIB Group, Inc. (MIB) is the life and health insurance industry's most trusted resource for underwriting information, risk assessment and analytical services. Owned by the industry it has served for more than a century, MIB is uniquely positioned to aggregate industry insights in order to develop products and services for its members that improve their risk management decisions. MIB, Inc. and MIB Solutions, Inc. are wholly-owned subsidiaries of the MIB Group, Inc. www.mibgroup.com.
About Milliman, Inc.
Milliman, Inc. is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in life insurance and financial services, healthcare, property & casualty insurance, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit www.milliman.com.