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.
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