The administrative burden of reconciling agency statements can be lightened with Billing Stream v 1.1, recently released to market by StoneRiver, Inc. This comprehensive all-lines billing solution for property-casualty carriers features strong direct bill features, and now offers agency bill capability that provides:

• Reduction of 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
• More flexibility with configurable credit terms for each agent and with the option to put policies on installment plans
• 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

Another source of higher agent satisfaction is payment flexibility that allows statements to be paid by manual check, electronic funds transfer or credit card. The new version supports both account current and producer bill methods and allows the carrier to vary agreements between agency and direct bill, including the authorized lines of business and commission schedules.

"As a customer advisory board member and long-term partner with StoneRiver, I am encouraged by the value StoneRiver's Stream products will deliver through the advanced user experience and improved accessibility of data and technical architecture to the  insurance domain," said Paul D. Luongo, president and CIO, STG / A Plymouth Rock Company.

"Billing Stream offers value for any p&c carrier needing direct bill, agency bill or both," said Rodney Griffin, SVP of Product Management at StoneRiver, Inc. "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."