Cover-All Technologies Inc. (NYSE MKT: COVR), a Delaware corporation, announced today that My Insurance Center (MIC) NexGen, was recently included in a report profiling insurance policy administration solutions (PAS) published by Novarica, a research and advisory firm focused on insurance technology strategy. The Novarica report, “US Property/Casualty Policy Administration Systems 2012 (Q2),” profiles 55 vendors with policy administration solutions available today, and describes a number of trends that explain why PAS projects remain a top priority including the need to improve product development speed and flexibility, customer and distributor service and internal workflow. “In addition to simply improving customer and distributor service, another key factor is the desire to attract and retain not just top producers, but also the new generation of producers who simply won’t stand for the challenges presented by legacy solutions,” said Chad Hersh, partner at Novarica and author of the report. “Inflexible legacy policy administration systems can prevent insurers from being able to take advantage of new opportunities and being able to meet customer and agent expectations.” Cover-All Technologies’ profile specifically notes My Insurance Center NexGen “…is live at clients in all 50 states (plus the District of Columbia and Puerto Rico) supporting all major commercial lines, including ISO commercial lines, Massachusetts commercial auto, NCCI Workers’ Comp, and various specialty commercial custom lines” and notes that 23 North American carriers are live with an additional 9 MGA clients. The report also includes a description of MIC NexGen’s 100% web-based solution along with screenshots of the solution. "Cover-All has been successfully serving property/casualty insurance companies policy administration needs for many years, and we are very excited to be included in Novarica’s report,” said Manish Shah, president and CTO for Cover-All Technologies. “Cover-All’s new NexGen policy solution was conceived and created to enable our customers to gain compelling and sustainable competitive advantage through use of flexible and easy-to-use systems. We architected NexGen to leverage the latest technologies and our extensive insurance experience to create a policy platform that addresses the issues and opportunities outlined in the Novarica Report.”
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 – first to deliver PC-based commercial insurance rating and policy issuance software. Currently, 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 value. With our extensive insurance knowledge, our experience and our commitment to quality, Cover-All continues its tradition of developing technology solutions designed 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) NexGen 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. Forward-looking Statements Statements in this press release, other than statements of historical information, are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks which may cause the Company’s actual results in future periods to differ materially from expected results. Those risks include, among others, risks associated with increased competition, customer decisions, the successful completion of continuing development of new products, the successful negotiations, execution and implementation of anticipated new software contracts, the successful implementation of our acquisition strategies and our ability to complete or integrate acquisitions, the successful addition of personnel in the marketing and technical areas, our ability to complete development and sell and license our products at prices which result in sufficient revenues to realize profits and other business factors beyond the Company’s control. Those and other risks are described in the Company’s filings with the Securities and Exchange Commission (“SEC”) over the last 12 months, including but not limited to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, filed with the SEC on April 2, 2012, and Post-Effective Amendment No. 3 to Form S-1 on Form S-3 (File No. 333-156397) filed with the SEC on July 26, 2011, copies of which are available from the SEC or may be obtained upon request from the Company.