Cover-All Technologies (COVR) Unveils Its New NexGen Business Intelligence Suite
Jun. 6, 2011 (Business Wire) — Cover-All Technologies Inc. (NYSE-Amex: COVR), a Delaware corporation, today at the annual IASA Conference announced the general availability of its NexGen Business Intelligence Suite, which can be leveraged either as an integrated component of My Insurance Center Business Acquisition Platform or as a stand-alone solution that can leverage data from virtually any insurance source system.
“We believe the NexGen Business Intelligence Suite is the industry’s most advanced and in-depth end-to-end solution,” described Manish Shah, President and CTO of the Company. “The NexGen Business Intelligence Suite provides data models for pre-staging, staging, warehouse and data mart covering core insurance subject areas, supporting global and diverse insurance business needs. Leveraging OLAP technology, the NexGen Business Intelligence Suite delivers hundreds of insurance metrics and slicing capabilities through various dimensions. Additionally, the included data flows between data models are developed based on several years of experience working with numerous source systems and their associated limitations. Emanating from our extensible and proven data model, the solution is designed to unify data from multiple business units, operating on multiple administrative platforms, into a consistent enterprise view of information for analysis and planning. With built-in performance management and analytics capabilities, which leverage secure user-configurable dashboards and scorecards, ours is truly a differentiated solution for insurance organizations.”
Mr. Shah added, “We already have a customer signed up to take advantage of these capabilities before the end of the second quarter.”
Cover-All architected the NexGen Business Intelligence Suite to be entirely turn-key, yet flexible enough to accommodate the nuances of each property & casualty insurance organization, in addition to being extensible for future business needs.
Shailesh Mehrotra, Vice President of Business Intelligence, explained, “The need for Business Intelligence capabilities is largely unchallenged in the insurance marketplace. The NexGen Business Intelligence Suite delivers on the promise of these capabilities by shortening the time and cost of implementation through our solution combined with our in-depth knowledge of the insurance processing complexities. Already serving a range of carriers, from large multinationals to smaller national players, our data model, ready-built ETL library, and comprehensive presentation layer can be fully operational in a three to six month timeframe – and even faster when integrated with My Insurance Center.”
“From our perspective, Business Intelligence initiatives for an organization should be strategically aligned with the business challenge,” continued Mr. Mehrotra. “Starting with a blank slate will risk the success of these initiatives very early on. Too often, these initiatives rush into delivery with only a limited understanding of the complexity of insurance data which places massive constraints on the extensibility of the solution. Further, these Business Intelligence systems are sometimes built for a specific user population and the accuracy of the information is often called into question. Ultimately, the business quite simply isn’t being served. A very attractive alternative is to leverage a turnkey solution which is the culmination of years of insurance experience, based on the latest information management practices, and most importantly, proven in the industry.”
“Today, more than ever before, insurance leaders need timely and accurate information to take advantage of opportunities and manage risk,” added John Roblin, Chairman and CEO. “Until now, the powerful capabilities of business intelligence technology have been elusive because of the complexities of property & casualty insurance and legacy systems. Cover-All developed our revolutionary NexGen Business Intelligence Suite to not only be powerful but also capable of delivering results in very short time frames. Over the last four years we have combined the latest technologies with a data-centric design and our deep understanding of insurance. Now, we are essentially a new company with industry leading technology and a rich solution set that is legacy code free and leverages the latest in Web 2.0 technology. Our NexGen Business Intelligence Suite is an exciting addition to our capabilities and is generating significant excitement with existing customers and prospects alike.”
About Cover-All Technologies Inc.
Cover-All Technologies Inc. is a leader in developing sophisticated software solutions for the property and casualty insurance industry. With our industry leading Business Acquisition Platform – My Insurance Center, and the recently announced Business Intelligence Solution Cover-All continues to expand its growing inventory of business focused, advanced technology solutions. The “New” Cover-all continues to innovate while leveraging its reputation for quality insurance solutions, knowledgeable people and outstanding customer service to enable our customers to achieve superior business results.
Pairing state-of-the-art functionality of My Insurance Center NexGen & the NexGen Business Intelligence Suite with experienced service professionals, who after implementation ensure continued compliance with statutory, regulatory, and market differentiation needs, Cover-All continues its tradition of innovating technology solutions 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) 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 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, 2010, filed with the SEC on March 24, 2011, and Post-Effective Amendment No. 1 to Form S-1 (File No. 333-156397) filed with the SEC on May 10, 2011, copies of which are available from the SEC or may be obtained upon request from the Company.
Cover-All:
Miguel A Edwards, 973-461-5211
SVP, Business Development
or
Ann Massey, 973-461-5190
Chief Financial Officer
or
Investor:
Hayden IR
Brett Maas, Principal, 646-536-7331
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