DENVER, Aug. 2, 2016 (GLOBE NEWSWIRE) -- Mutual Reinsurance Bureau, an Illinois-based company that reinsures diverse companies across the U.S. and internationally, and StoneRiver, Inc., a trusted insurance technology partner with solutions across multiple business lines, today announced that Mutual Reinsurance has selected StoneRiver's Universal Reinsurance System (URS®) to increase efficiency and ensure accuracy in the reinsurance administration for its business partners.
The company selected URS to move away from reliance on a legacy system using old technology. The URS system will provide a modern and comprehensive reinsurance administrative system with full underwriting, claims, accounting, and reporting capabilities.
Mutual Reinsurance Bureau Vice President and CFO Scott Johannsen said, "Our company has a long history of helping insurance companies band together to meet their reinsurance needs. To address current regulatory and reporting requirements, we wanted URS for its strong automation that will provide auditable processing, manage complex reinsurance transactions, and quickly respond to new reinsurance offerings."
StoneRiver Senior Vice President Thomas Chesbrough noted, "We are very pleased that Mutual Reinsurance Bureau is joining our large community of reinsurance clients. URS propels insurers to even greater levels of efficiency by automating some very labor-intensive processes."
About Mutual Reinsurance Bureau
Mutual Reinsurance Bureau is a reinsurance underwriting association that arranges and effectuates reinsurance agreements with insurance companies on behalf of its assuming members. Since 1921, the company has provided unquestionably strong security to insurance companies along with knowledgeable underwriting and timely claims processing.
About StoneRiver, Inc.
StoneRiver delivers the industry's widest range of value-oriented technology solutions and services to insurance carriers, agents and broker-dealers. This versatile product group encompasses front-office, policy, claims, rating, underwriting, billing and reinsurance automation for all major business lines. Hundreds of companies of all sizes rely on StoneRiver software and processing solutions to achieve a competitive edge. Customer satisfaction and client success are the continuing goal, and are in large part achieved by maintaining and valuing strong, long-term customer relationships.
CONTACT: Thomas Chesbrough, SVP StoneRiver, Inc. 303.729.7643 firstname.lastname@example.org