Cover-All Technologies Inc. (NYSE-Amex: COVR), a Delaware corporation, announced today that its claim management system for property/casualty insurance companies, BlueWave Claims, was recently profiled in a report evaluating insurance claim systems published by CEB TowerGroup, a Boston-based research and consulting firm focused on the global financial services industry.
With many new and existing claim management solutions available to insurers today, objective information such as that included in the CEB TowerGroup report, “Claims Management Technology Analysis,” is critical to the decision-making process of insurance executives, IT professionals and those specializing in claims. The vendor and system profiles included in this report focus on claim systems vendors with mature products, numerous deployment options, and with an emphasis on modern technology and effective claim management techniques and best practices.
“Modern core claim administration systems are imperative,” said Karen Pauli, research director at CEB TowerGroup and author of the report. “Without flexible, function rich technology, consumer and distributor requirements cannot be met.”
According to CEB TowerGroup, there are 21 attributes that define a “best-in-class” claim management solution. These attributes are grouped into four categories that highlight a firm’s user, customer and enterprise needs. Vendor rankings are based on CEB TowerGroup’s proprietary five-point rating scale for each of the 21 “best-in-class” attributes.In addition to these common profile features, the BlueWave Claims profile specifically notes, “Designed as a best-of-breed claims management solution, BlueWave Claims focuses on providing core claims processing capabilities and does not provide extensive integrated premium features such as the advanced analytics or content management systems that we have seen in competing products. However, in its core ability to manage the claims lifecycle, BlueWave Claims is at least equal to the most feature rich solutions on the market. We also expect that Cover-All Technologies will significantly enhance BlueWave Claims’ functionality by incorporating additional proprietary features from the core insurance solutions of its My Insurance Center NexGen suite.”