Cover-All Technologies Announces General Availability of NexGen ISO BOP Product

FAIRFIELD, N.J.--(BUSINESS WIRE)-- Cover-All Technologies Inc. (NYSE AMEX: COVR), a Delaware corporation and provider of the Cover-All family of insurance software solutions for the property and casualty (P&C) insurance marketplace, today announced the release of their latest addition to its NexGen products offering – NexGen BOP – which supports the full policy lifecycle of ISO’s Businessowners Policy (BOP) line of business.

“Supporting virtually the entire breadth and depth of large and complex bureau products, like BOP, by having an ’off the shelf’ solution is a key priority for us,” said Manish Shah, president of Cover-All. “Our rule of thumb is that if it’s in the bureau manual, it’s in our product. It’s what allows our customers to bring up new lines of business in as little as 90 days.”

“The addition of BOP complements our industry-leading inventory of pre-built, full functionality bureau products (NexGen Products) which already includes Commercial Property, General Liability, Inland Marine, Crime & Fidelity, Commercial Package, Commercial Auto and Workers' Compensation,” Manish Shah added.

The new BOP product includes virtually all coverages, coverage options, rating mechanisms and policy forms and was created utilizing Cover-All’s robust development tools. In addition, this product’s design was informed by the input, insight and expertise of Cover-All’s diverse customer base. This product utilizes and shares the powerful capabilities of Cover-All’s NexGen Policy solution that now supports the full policy lifecycle, including rate, quote, issuance, out-of-sequence endorsements, document generation, form attachment and storage, subsequent transactions, and statistical reporting, for all the NexGen Products (including BOP) as well as a rich inventory of custom products and an easy-to-use user interface (UI).

“We believe that in addition to speed of implementation, leveraging the power of Cover-All’s NexGen products and NexGen Policy can make a significant impact on the entire insurance distribution channel. With tools like import and export of scheduled locations, drivers, and vehicles, typically arduous submissions can be completed in minutes, while tree-style navigation, intuitive field names, and descriptions guide users through every step in the process,” Shah continued.

“Cover-All is committed to providing the P&C marketplace with solutions that help our customers grow market share and reduce operating costs,” concluded Shah.

About Cover-All Technologies Inc.

Cover-All Technologies Inc., since 1981, has been a leader in developing sophisticated software solutions for the property and casualty insurance industry – first to deliver PC-based commercial insurance rating and policy issuance software. Currently, Cover-All is building on its reputation for quality insurance solutions, knowledgeable people and outstanding customer service by creating new and innovative insurance solutions that leverage the latest technologies and bring our customers outstanding capabilities and value. With our extensive insurance knowledge, our experience and our commitment to quality, Cover-All continues its tradition of developing technology solutions designed to revolutionize the way the property and casualty insurance business is conducted.

Additional information is available online at www.cover-all.com.

Cover-All®, My Insurance Center™ (MIC) NexGen and Insurance Policy Database™ (IPD) are trademarks or registered trademarks of Cover-All Technologies Inc. All other company and product names mentioned are trademarks or registered trademarks of their respective holders.

Forward-looking Statements

Statements in this press release, other than statements of historical information, are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks which may cause the Company’s actual results in future periods to differ materially from expected results. Those risks include, among others, risks associated with increased competition, customer decisions, the successful completion of continuing development of new products, the successful negotiations, execution and implementation of anticipated new software contracts, the successful implementation of our acquisition strategies and our ability to complete or integrate acquisitions, the successful addition of personnel in the marketing and technical areas, our ability to complete development and sell and license our products at prices which result in sufficient revenues to realize profits and other business factors beyond the Company’s control. Those and other risks are described in the Company’s filings with the Securities and Exchange Commission (“SEC”) over the last 12 months, including but not limited to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, filed with the SEC on April 2, 2012, copies of which are available from the SEC or may be obtained upon request from the Company.

Media:
St. Nick Media ServicesJennifer Overhulse-King, 859-803-6597
[email protected]
or
For information on Cover-All:Alyssa Hostelley, 808-772-1472
Executive Vice President, BlueWave Claims
[email protected]
orAnn Massey, 973-461-5190
Chief Financial Officer
[email protected]

Source: Cover-All Technologies Inc.