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StoneRiver Debuts Billing Stream 1.1 with Agency Bill Support

With added agency bill capability, Billing Stream will help P&C carriers reduce their administrative burden, gain greater flexibility in billing issues with agents and increase agent satisfaction, the vendor asserts.

StoneRiver (Oakland, Calif.) has announced the release of Billing Stream 1.1, which the vendor describes comprehensive all-lines billing solution for property-casualty carriers that now features strong direct bill features, and now offers agency bill capability.

StoneRiver says that Billing Stream reduces the administrative burden that a P&C carrier faces by automatically reconciling agency statements imported from external agency management systems while allowing for manual reconciliation when necessary; the solution also offers greater flexibility with configurable credit terms for each agent and with the option to put policies on installment plans. Billing Stream will foster increased agency/agent satisfaction with an ability in a multi-tier hierarchy to provide statements and reconciliation at the preferred level for agencies and agents, the vendor asserts.

"Billing Stream offers value for any P&C carrier needing direct bill, agency bill or both," comments Rodney Griffin, SVP of Product Management, StoneRiver. "The solution has the capacity to streamline work and accommodate how policyholders and business partners want to operate. Billing Stream is a powerful opportunity for a carrier to create a brand that stands for convenience."

In addition, 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, according to StoneRiver.

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

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