Cover-All Technologies Inc. (NYSE-Amex: COVR), a Delaware corporation, today announced the general availability of its latest release of My Insurance Center (MIC), their policy administration and business acquisition platform. Honoring their commitment to providing existing customers with an ever expanding set of capabilities this release represents advancement in areas of business value as well as technological upgrade.
As part of a long list of productivity and usability enhancements, Cover-All has introduced the "Insured Central" feature which will support the sharing and management of information about the insured and associated data across all quotes and policy transactions. Totally transparent to the user, MIC automatically creates and maintains the insured master data in real time and creates new or updates existing master records making up to date information available throughout the entire system. The reusability of insurance demographic and location information will serve to reduce errors, improve data stewardship, and provide more “account-centric” views during the underwriting process.
Another special productivity feature, named "Mass Update" has been made available across all insurance lines of business allowing the user to modify repeating entities such as vehicles, locations, classifications etc. in bulk through a drag-n-drop wizard-based user interface. This feature will help reduce time and data-entry errors for large quotes and policies with large numbers of locations, vehicles and other repeating entities.
In addition to the feature enhancements to the MIC platform, Cover-All has also introduced intuitive composite rating to the pre-built, implementation-ready bureau product lines of General Liability, Crime & Fidelity, and Commercial Automobile. This flexible and powerful functionality allows users to define unlimited composite rating groups, manage group content with great simplicity and speed, calculate premium, generate stat codes and accurately calculate state taxes, fees & surcharges, as well as allow endorsement processing in a variety of ways.
Ensuring the platform’s longevity and capitalizing on ever-improving technology, MIC has also been certified to support the latest version of Oracle 11g R2 Database representing a commitment to keeping technology pace as well as offering the most current industry standards in regard to technology deployment and security.