Large Insurance Carrier Licenses New Cover-All Policy Solution

Business Wirevia The Motley Fool
Updated

Large Insurance Carrier Licenses New Cover-All Policy Solution

MORRISTOWN, N.J.--(BUSINESS WIRE)-- Cover-All (NYSE MKT:COVR), a leading provider of innovative and modern technology solutions to the property and casualty industry, announced today that a large division of a nationally-known Tier 1 insurance company (name withheld in conformance with their corporate policy) has selected Cover-All's new Policy solution to support its substantial insurance program business in 51 U.S. jurisdictions.

The multi-year agreement includes the upgrade licensing of Cover-All's new Policy solution, several out-of-the-box, production-ready ISO insurance products (Commercial Automobile, Commercial Package including Property, General Liability, Inland Marine, Crime and Fidelity, and Massachusetts Automobile), and two custom insurance products (Umbrella and Professional Liability) for 51 US jurisdictions.


Cover-All Policy is a 100% web-based, configurable solution that delivers state-of-the-art policy administration functionality as well as real-time reporting. It enables customers to transform and customize their core commercial lines operations including rating, quoting, underwriting, document generation/management and distribution while improving collaboration and productivity with agents and brokers.

Some of the reasons given for the selection of Cover-All include:

  • A robust policy administration platform with a modern and fluid user interface that enables Cover-All clients to create differentiated interactions with their external agency force by providing tools to quote, issue, and service business with a high degree of productivity, collaboration, performance, and security

  • Production-ready, ISO-based commercial products which will expedite implementation and ensure a high degree of compliance along with lower maintenance costs and timely and efficient bureau updates

  • Powerful capabilities to create custom products (like Umbrella & Professional Liability)

  • Special features related to Program Business that enable rollout and maintenance of a large number of niche programs through the ability to make deviations in rates, forms, commissions, payment plans, workflows, and underwriting guidelines by program

  • Easy-to-use, powerful, and secure capabilities for web-based access from the Managing General Agents' offices

  • Demonstrated ability to deliver quality regulatory and bureau rating/policy administration changes in a timely and accurate manner

  • Information-centric platform that facilitates information sharing, data mining, and operational flexibility

"We are very pleased to add another major insurer to the list of companies already implementing and using Cover-All Policy," said Manish Shah, president of Cover-All. "We consistently strive to understand our clients' business and collaborate with them. Ultimately, we are always working to implement a solution with inherently robust capabilities that is flexible enough to be easily tailored to each individual customer's needs. Cover-All customers can implement Cover-All Policy quickly and continue to realize efficiencies over time through our modern technology product set, fluid user interface, regular updates, self-service features,and our experienced, first-class customer service."

About Cover-All Technologies

Cover-All provides P&C insurance professionals a robust state-of-the-art, browser-based family of Policy, Business Intelligence, and Claims solutions designed to deliver products to market faster, enhance quality, ensure compliance, and reduce costs. With offices in Morristown, NJ, Manhattan and Honolulu, Cover-All continues its tradition of developing technology solutions designed to revolutionize the way P&C insurance business is conducted.

Additional information is available online atwww.cover-all.com.



Cover-All
Alyssa Hostelley, 808-772-1472
EVP Marketing
ahostelley@cover-all.com
or
Media:
St. Nick Media Services
Jennifer Overhulse, 859-803-6597
jen@stnickmedia.com

KEYWORDS: United States North America New Jersey

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