Trustmark Puts Universal Life Product on Stone River Policy Administration Platform

The vendor's ID3 policy admin platform, which supports products with atypical features, has enabled distribution of Trustmark's flagship product within New York.

Trustmark Insurance Company (Lake Forest, Ill.) has gone into production with StoneRiver's (Oakland, Calif.) ID3 life administration system in an outsourced environment, for the insurer's flagship universal life product line, sold in New York, which provides living benefits for long term care.

“ID3 was chosen as a solution to support our Trustmark Life Insurance Company of New York business,” relates Matt Whalen, vice president, operations, Trustmark Insurance. “Our products have some rather unique features, and we were able to work with StoneRiver to modify the system to meet our needs. Their data center provides significant support and service, and will facilitate the growth of our life business in NY.”

The StoneRiver ID3 solution provided Trustmark with the ability to support a universal life product with unique features, enabling the company to sell its flagship product in New York state, accordion to Doug Huffman, vice president, life carrier solutions, StoneRiver. “With the proven stability and reliability of ID3, we are pleased that Trustmark not only selected us to fulfill its administrative requirements but also to provide a secure data center environment,” he comments.

ID3 provides Life Insurance carriers with access to mission critical business processes for policy administration, including new business, billing, reinsurance, policy accounting and claims, according to the vendor.

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio