HOLON, Israel and DENVER, November 1,
2017 /PRNewswire/ --
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, with a growing presence in the financial services sector,
announced today that its fully owned subsidiary StoneRiver, Inc.
entered into an agreement with RLI Corp., a Peoria, Illinois-based specialty insurer
serving diverse, niche property, casualty and surety markets, for
the StoneRiver Stream® Billing system to consolidate its
current billing systems. The billing system will be deployed in the
cloud for even greater efficiency.
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"After an extensive evaluation of available billing software,
RLI selected Stream Billing largely due to its flexibility, mature
workflow capabilities and cloud deployment option," said RLI Corp.
Senior Vice President, CFO Tom
Brown. "RLI has utilized StoneRiver's Universal Reinsurance
System (URS) since 1998 and we look forward to expanding our
partnership with StoneRiver by implementing Stream Billing as our
enterprise-wide billing solution."
With Stream Billing, RLI will be able to provide a consistent
customer billing experience across its diverse products; operate
more efficiently with a rules-based payment application feature;
provide online inquiry for information on billing, premium, and
cash activities; and support various payment options, including
credit card and electronic funds transfer.
"We are proud to add RLI to the Stream Billing user community,"
said Gary Anderson, head of P&C,
North America for StoneRiver and
Sapiens. "Once in production, RLI's Stream Billing implementation
will deliver enhanced efficiencies and new options for RLI's
policyholders and agents."
Stream Billing is a component of Stream Suite™, a scalable,
highly configurable property-casualty set of processing solutions
for policy administration, billing, claims management, customer
management and distribution management that enables ongoing
evolution. Carriers can address emerging business needs more easily
because of the underlying Insurance Integration Platform, which
enables easier interfaces while still allowing software
upgrades.
About RLI
RLI Corp. (NYSE: RLI) is a specialty insurer serving diverse, niche
property, casualty and surety markets. The company provides deep
underwriting expertise and superior service to commercial and
personal lines customers nationwide. RLI's products are offered
through its insurance subsidiaries RLI Insurance Company, Mt.
Hawley Insurance Company and Contractors Bonding and Insurance
Company. All of RLI's subsidiaries are rated A+ "Superior" by A.M.
Best Company. To learn more about RLI, visit
http://www.rlicorp.com.
About Sapiens and StoneRiver, Inc.
StoneRiver, Inc., a fully owned subsidiary of Sapiens
International Corporation (NASDAQ and TASE: SPNS), delivers a range
of value-oriented technology solutions and services to insurance
carriers, agents and broker-dealers. These include front-office,
policy, claims, rating, underwriting, billing and reinsurance
automation for all major business lines.
Sapiens is a leading global provider of software solutions for
the insurance industry, with a growing presence in the financial
services sector. We offer integrated core software solutions and
business services, and a full digital suite for the property and
casualty/general insurance; life, pension and annuities; and
reinsurance markets. Sapiens also services the workers'
compensation and financial and compliance markets. Our portfolio
includes policy administration, billing and claims; underwriting,
illustration and electronic application; reinsurance and decision
management software. Sapiens' digital platform features customer
and agent portals, and a business intelligence platform. With a
30-year track record of delivering to more than 400 organizations,
Sapiens' team of over 2,500 operates through our fully-owned
subsidiaries in North America, the
United Kingdom, EMEA and
Asia Pacific.
For more information: http://www.sapiens.com.
Investor and Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Mobile: +1-201-250-9414
Phone: +972-3-790-2026
Email: Yaffa.cohen-ifrah@sapiens.com