29.06.2011 15:45:00
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Cover-All Technologies Delivers NexGen Enterprise Business Intelligence Solution to Insurance Carrier
Cover-All Technologies Inc. (NYSE-Amex: COVR), a Delaware corporation, today announced that it has delivered its recently released NexGen Business Intelligence Suite to a customer – the AIX Group, a member of the Hanover Insurance Group.
The NexGen Business Intelligence Suite provides a turnkey solution which brings data from various existing policy, claims and reinsurance source systems, and leverages pre-built logic to reconcile and populate a global data warehouse, global data mart and a multidimensional cube that delivers critical and timely business information via intuitive dashboards, reports and analytics tools to business leaders.
AIX’s choice to leverage Cover-All’s NexGen BI solution was largely based on the comprehensiveness and speed with which they could deploy and implement this intuitive product. Two critical success factors include providing a singular view of business performance and delivering actionable information to all levels of the organization.
"The benefits of Business Intelligence technology have proven elusive until now for P&C organizations due mainly to the complexities of property & casualty data combined with multiple legacy systems,” commented Manish Shah, President and CTO of Cover-All. "The industry has been searching for a turnkey solution supported by the latest information management practices, in-depth insurance processing knowledge, powered by modern and flexible technology. Cover-All accepted the challenge. Leveraging our extensive experience in insurance solutions, combined with an innovative design utilizing the latest technologies, we have created what we believe is the most advanced, comprehensive and ultra-configurable business intelligence solution available. We are pleased that AIX, a valued business partner, will be among the first to implement and reap the rewards of our flexible and extensible product.”
"Most Business Intelligence initiatives start from a blank slate,” continued Mr. Shah. "Even with the most advanced BI tools in industry, overcoming the learning curve associated with insurance specific information often proves expensive, time consuming, and sometimes impossible. By leveraging our off-the-shelf configurable solution, designed specifically for the Property & Casualty industry, customers will be able to realize a competitive edge very quickly.”
Cover-All’s NexGen Business Intelligence Suite provides proven data models addressing core insurance subject areas, and supporting global and diverse insurance business needs with pre-built ETL between various data models for faster implementation. Leveraging OLAP technology and a product-based approach, NexGen Business Intelligence is delivered with 177 metrics, viewable across 134 dimensions – all pre-configured to support a rapid implementation. Administratively elegant, the product provides analytical capabilities secured at the user level, allowing highly configurable dashboards and scorecards, while enabling a consistent enterprise view of information for analysis and planning.
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.
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