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.
Cover-All President and CTO, Manish Shah explained, “Our direction is clear with regard to MIC, our product development roadmap and scheduled product release efforts not only focus on continued improvement to an intuitive user experience, efficient processing, and commercial insurance automation, but also ensures that our technology does not lapse as is often observed in the insurance arena.” Mr. Shah continued, “Through our NexGen product lines we have committed to the latest technology, innovation, and insurance business value.”My Insurance Center features off-the-shelf and complete bureau products. Commercial Auto, Commercial Property, General Liability, Inland Marine, Crime & Fidelity, Commercial Package, Business Owners’ Policy, and Workers’ Compensation are fully built and maintained for bureau rates, rules, forms, stat codes, taxes, fees, surcharges as well as full policy lifecycle for 52 US jurisdictions and can be deployed immediately. Cover-All’s Custom Product Framework facilitates the development of specialty lines in less than 30 days. About Cover-All Technologies Inc. Cover-All Technologies Inc., since 1981, has been a leader in developing sophisticated software solutions for the property and casualty insurance industry. With My Insurance Center, a 100% web-based platform, Cover-All is building on its reputation for quality insurance solutions, knowledgeable people and outstanding customer service by creating new and innovative insurance solutions that leverage the latest technologies and bring our customers outstanding capabilities and business results. Pairing state-of-the-art functionality of My Insurance Center 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.