WebRTC Solutions Industry News

TMCNet:  SCOR Global Life Americas and StoneRiver, Inc. Offer New Solution to Accelerate Underwriting Cases for Simplified Issue Life

[December 18, 2012]

SCOR Global Life Americas and StoneRiver, Inc. Offer New Solution to Accelerate Underwriting Cases for Simplified Issue Life

CHARLOTTE, N.C. --(Business Wire)--

SCOR Global Life Americas, a leading life reinsurer in the U.S. market, and StoneRiver, Inc. have teamed up to offer an innovative solution for the rapid underwriting of simplified issue life insurance products.

The solution integrates Velogica®, SCOR's automated underwriting engine, and LifeSuite® Results Manager, StoneRiver's case management solution.

Velogica's underwriting algorithm interprets details from multiple sources - MVR, MIB reports and prescription drug histories - and correlates the data with information collected on the application. Velogica's complex algorithm enables an underwriting recommendation in real time. In 95 percent of all cases, Velogica has made an underwriting recommendation without the involvement of an underwriter, and 90 percent of the time, it delivered the result in under a minute.

LifeSuite Results Manager provides an array of capabilities including the electronic capture of application data, submission of application data to Velogica and the presentation of underwriting evidence and results in an easy-to-use dashboard.

By combining Velogica and LifeSuite Results Manager, carriers can now quickly implement a single, cost effective and comprehensive solution for middle market life insurance business.

SCOR and StoneRiver already have an established relationship. "We have worked together for a number of years creating customized term life programs for carriers in the fully underwritten life market," said Dave Drans, Senior Vice President of SCOR's Value Added Services. "Besides being the consummate technical experts, the StoneRiver team understands how life insurance is sold and administered - and that makes all the difference. We are highly optimistic about what we can do together."

Jim Woodward, Senior Vice President of StoneRiver Life Carrier Solutions, said, "Understanding the industry's attention and focus on reaching the middle market is what drew StoneRiver and SCOR together. In looking at the automated underwriting engines available, we quickly concluded that Velogica provides the most comprehensive and sophisticated solution." Woodward added that with almost one million applications processed to date, "their experience is unmatched in the marketplace."

While companies still can purchase Velogica and the LifeSuite Underwriting System independently, the collaborative solution can lower costs and integration efforts for life insurers who want to enter or expand their participation in the middle market.

About SCOR Global Life Americas

SCOR Global Life Americas, headquartered in Charlotte, NC, is the second largest life reinsurer in the US market based on volume of new business written. The company provides reinsurance solutions to companies in the US, Canada and Latin America. SCOR Global Life Americas offers broad capabilities in risk management as well as value added services that help life insurers develop competitive products and enter new markets with speed and efficiency. SCOR's patented process commercialized as VELOGICA® offers new opportunities for effectively and efficiently underwriting middle market business.

SCOR Global Life Americas is part of the SCOR Group, the fifth largest reinsurer in the world with major Hubs in Paris, Zurich, Cologne, London, Singapore and New York. Visit www.scor.com for more information.

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, reinsurance, financial and compliance solutions for all major business lines. Thousands of companies rely on StoneRiver software and processing solutions to achieve a competitive edge, with 18 of the top 25 insurance carriers leveraging the use of a StoneRiver system. Visit www.stoneriver.com for more information.


[ Back To WebRTC Solutions's Homepage ]

FOLLOW US

Featured Podcasts

Oracle in Enterprise Communications

Most in the industry have heard of the acquisition of Acme Packet by Oracle. What you may not know is that Oracle has a number of telecommunications products including a UC suite, WebRTC Session Controller, and Operations monitoring tools. Oracle is pursuing both the enterprise and service provider.

Featured Whitepapers

WebRTC Security Concerns

This whitepaper covers two of the most relevant topics in communications industry today: WebRTC and security. We will introduce the problem of security in WebRTC including those traditional VoIP attacks that are going to be present in WebRTC services. Later we will mention ad-hoc WebRTC attacks and protection mechanisms, to close with an overview of identity management solutions.

Migrating Real Time Communications Services to the Web

In the Internet age, businesses that own fixed and mobile communication networks, including traditional Communications Service Providers (CSPs) of all kinds, are being challenged with some tough questions: How do we stay relevant to our customers?

Delivering Enterprise-Class Communications with WebRTC

WebRTC is an emerging industry standard for enabling Web browsers with real-time communications capabilities. It enables enterprises to enhance Web sites, empower BYOD users, and improve video collaboration and on-line meetings, to name but a few examples.

WebRTC Report Extract Reprint

This document examines the growing important of WebRTC, both generally and for telecom service providers. It considers the expanding range of use-cases, the multiple layers of interoperability likely to be desired by telcos, and some implications in terms of network integration and mobility.

WEBRTC SOLUTIONS PAPERS, SLIDES, COLLATERAL

Robust Enterprise Grade WebRTC Systems and Services


The emerging WebRTC standard has become one of the industry's hottest topics – and with good reason. Being able to "communications enable the web" has Communications Service Providers as well as Enterprises busily making plans for deployment. But, as these plans unfold, reality is starting to intrude on those plans. Our expectations of telephony services are much higher than web browsing. We expect the phone to connect instantly, operate with minimal disruption, and work seamless across any network, anywhere, at any time. There is also an understanding that phone service is inherently secure. With WebRTC, the expectation is for these applications to behave in the same manner.

This session looks at the user experience and expectations of a WebRTC Enterprise service. It will also cover how a WebRTC enterprise handles security, reliability, and interoperability within browsers and networks.

ORACLE COMMUNICATIONS WEBRTC SESSION CONTROLLER

The Oracle Communications WebRTC Session Controller enables communications service providers (CSPs) and enterprises to offer WebRTC services – from virtually any device, across virtually any network – with carrier-grade reliability and security.

Sales Presentation: Oracle Communications WebRTC Session Controller

Agenda:
- WebRTC Market and Opportunities
- WebRTC Challenges
- Oracle Communication WebRTC Session   Controller
- Summary

ORACLE COMMUNICATIONS WEBRTC SESSION CONTROLLER SOLUTION

Communication Service Provider (CSP) voice service revenues continue to face pressure due to shifts in communication preferences and competition from non-traditional service providers. Voice communications are now often embedded into applications outside the domain of traditional telephony voice usage. CSPs have been challenged to effectively leverage and monetize new web-oriented communications technologies.