StoneRiver Insurance/ Financial Solutions

StoneRiver financial solutions are tailored to meet the unique requirements of insurance accounting, and they are expertly installed and supported by insurance specialists. Used by hundreds of insurers, these flexible applications expedite access to key financial information for informed decision making and convenient reporting.

StoneRiver offers more than one solution in some categories: PRO Financial solutions are based on a relational database and provides the transaction processing speed that mid-size and larger insurers require. PTE Financial solutions are proven and affordable, and they’re easy for start ups and smaller insurers to implement and maintain. StoneRiver representatives will help you determine which one fits you best.

StoneRiver develops, implements, and supports a comprehensive range of technology solutions that are specifically designed for insurance carriers. This versatile group encompasses financial, compliance, policy, claim, rating, underwriting, billing, and reinsurance systems for all major business lines.

Accounts Payable

PRO Financial Accounts Payable (AP)

PRO Financial AP is a rules-driven system that lets you establish rules for cash management, and vendor management-supporting one-time and recurring vendors, as well as rapid set-up for new vendors. Front-end, user-defined rules can distribute invoice amounts over multiple companies and multiple accounts within companies. Rapid invoice windows and skeleton invoices save time with user-defined invoice types that recall pre-defined account distributions, as well as inter- and intra-company allocations. Recurring invoices can be set up for automatic release, and payments can be automated for wire transfers, bank drafts, or EFT.

• User defined rules govern cash & vendor management
• Automatic calculation of payment dates and discounts
• Supports checks, bank drafts, and EFTs
• Invoices can be reviewed and approved online
• Account distributions coded automatically with pre-defined rules
• Easy access to payment detail
• Accumulates 1099 data

PTE Financial AP

Insurers use the PTE Financial Accounts Payable system to generate claim checks, premium refunds, and agent commissions, as well as traditional vendor payments. It can be integrated with most premium/claims systems to facilitate the speed and accuracy of data transfer. When manual AP data entry is required, your efficiency is enhanced through automated recurring entries, rapid data entry mode, vendor defaults, and online vendor history.

• Tracks due dates, discounts and late charges
• Produces checks and EFTs
• Tracks 1099 data
• Reconciles checks and EFTs
• Provides valuable audit control and reporting
• Calculates use tax automatically
• Tracks vendors
• Reports aging of payables

eFreedom Annual Statement

eFreedom Annual Statement software is packed full of time-saving features that simplify and accelerate the process of collecting, processing and submitting your quarterly and annual NAIC filings. Here are just a few of the features that attract insurance accountants:

• Friendly, Excel-like screen layout
• Pre-populating fields that reduce data entry
• Continuous, behind the scenes crosschecks
• Amazingly clear cell references and formulas
• Efficient drill-down to underlying data
• Ability to open multiple statements and schedules simultaneously
• Error-proof Wizards for data import and online filing
• Schedule P simplicity
• Smooth processing of Combined statements
• Statutory accountants on staff to advise you
• The extraordinary customer service weýve always been known for

General Ledger

PRO Financial General Ledger (GL)

The user-defined account structure within the PRO Financial GL makes it easy to build reporting logic into the system. Reporting hierarchies can be established by business unit or department allowing you to report on lines of business, types of coverage and more.

• Razor-sharp profitability reporting
• User-defined account structure up to 60 characters
• Sub-ledgers track unlimited detail
• Drill down and drill across to detail in other modules
• Supports multiple currencies
• Interface to eFreedom Annual Statement system

PTE Financial GL

This proven solution was specially developed to handle specific financial needs of insurance companies without additional tailoring. Insurance financial professionals appreciate its suspense tracking, budgeting and forecasting features. Built-in reports compile and present information that is truly meaningful to insurance managers and executives.

• Annual Statement Interface
• User-defined Ledgers
• Cash, Statutory, and GAAP Reporting
• Flexible Allocations
• Unlimited Consolidations
• Suspense Tracking
• Budgeting
• Forecasting
• Views and Reports

Power2Pay

Power2Pay software provides a full range of print and electronic payment options including laser printed checks, EFT capabilities, and check imaging. The system’s intuitive user interface guides new users step-by-step through system processes and provides timesaving shortcuts for experienced users.

• Payment data is easily imported from any source
• Compatible with any Windows-based printer
• Wizards walk you through multi-step set-ups and processes
• Prints to multiple printers, and multiple trays
• Power2Pay security is both strong and flexible
• All client-to-server communication is encrypted to prevent interception
• Templates, graphics, and signatures are encrypted for use with only one system
• Full system activity auditing is stored in the relational database
• Security fonts protect check amounts and payee names
• Generates positive pay files for added security

Reinsurance Administration

Freedom Reinsurance System (FRS)

FRS is designed to improve accuracy in premium calculations and to ensure that the primary carrier receives its proper recoverables. At intervals selected by the user, the system creates premium and claims cessions using the contents of contract master files, and the company’s premium and claims files.

Both facultative and treaty cessions are calculated, including quota share, excess, catastrophe excess and aggregate excess of loss. Premiums can be ceded on either a written or earned basis, and the system will handle both fixed and sliding commissions. The system allows for maximum flexibility in applying both facultative and treaty cessions, as the user can create any criteria necessary for cessions easily when the contract records are built.

TRACKER Unclaimed Property System

Did you know that uncashed checks and unclaimed benefits cannot legally be returned to your asset base? TRACKER software helps you streamline the labor-intensive process of managing and reporting escheatable property to each state where you do business. And it helps protect your organization from penalties and interest associated with non compliance.

• Stores current reporting requirements, so you don’t have to keep track of changes
• Consolidates escheat records from various source systems
• Automates the creation of search letters for due diligence
• Produces paper or electronic reports according to the specification of each state
• Uses pre-approved formats for state reports to ensure compliance
• Forecasts liability years in advance
• Offers user-defined fields and a custom report writer