StoneRiver Collaborates with Microsoft on Cloud Offering
Staff Writer | August 26, 2016
StoneRiver announces that it is bringing key StoneRiver systems built on Microsoft Azure to its customers: property and casualty systems StreamSuite and PowerSuite; as well as life systems Life Portraits, illustrations; LifeApply e-application; and LifeSuite automated underwriting system.
StoneRiver’s cloud-based software will enable agility, flexibility, and lower total cost of ownership, versus traditionally-provisioned insurance systems. Along with using Microsoft Azure for infrastructure behind StoneRiver’s core systems, StoneRiver plans to take advantage of cloud-based business intelligence and advanced machine learning in Microsoft Azure to help carriers drive dramatically improved operational efficiencies.
In a world of low interest rates and correspondingly low returns on reserves, machine learning and advanced business intelligence will enable forward-looking insurance customers to optimize payouts, identify fraudulent behavior, and understand their business at a level of detail never before possible.
“We are pleased to work with Microsoft to take advantage of Microsoft Azure—analytics, machine learning, and mobile platforms,” says Tom Chesbrough, senior vice president, StoneRiver. “Together we will be among the first movers in bringing rapidly advancing technology to market that will allow our clients to compete strongly.”
“We are excited that StoneRiver has selected Microsoft Azure as the cloud platform for its core insurance systems,” says Tony Jacob, managing director, worldwide insurance at Microsoft. “We see growing demand for carriers in both life and non-life for more agile core systems that also take advantage of the cost benefits of our hyper-scale cloud investments.”
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