Cover-All Technologies Inc. (NYSE MKT: COVR), a Delaware corporation, announced today that its claims management system for property/casualty (P&C) insurance companies, BlueWave Claims, was recently profiled in a report evaluating insurance claims systems published by Novarica, a New York‐based research and advisory firm specializing in financial services.
The Novarica report, “Novarica Market Navigator™ US Property / Casualty Claims Solutions 2012 (Q3)”, profiled 36 solutions from 32 vendors with claims systems available today. According to the report, claims management “continues to be an area for strategic innovation as technology allows carriers to increase efficiencies, deliver a better customer experience and glean new insights through easier access to data. Carriers with leading claims organizations are implementing modern solutions with tools that make it easier to meet their goals and objectives.”
“Claims administration systems are being replaced at an increasing pace in the insurance industry,” said Karlyn Carnahan, principal for Novarica’s insurance team and author of the report. “While many carriers have already upgraded and others are in the middle of a claims replacement project, the majority of carriers are in the planning phase for a core claims system replacement.”
The software vendor profiles in the report each include an objective overview of key functionality, organization, technology stack, client base, and implementation timeframes and costs. In addition to these common profile features, BlueWave’s profile specifically acknowledges BlueWave Claims’ modern technology base, as well as some of the solution’s key differentiators, including the “solution’s ease of use, configurability, J2EE/SOA-enabled architecture, and low total cost of ownership.”"We are very pleased that BlueWave Claims is included in this report,” said Manish Shah, president of Cover-All Technologies. "BlueWave Claims was created with the claims process in mind, taking into account each intuitive step and business rule from the claims adjuster perspective. We’re committed to giving claims departments a valuable, modern solution without compromising quality. As a part of the Cover-All family of products, BlueWave Claims completes a modern end-to-end solution, including policy and business intelligence (BI).”