Cover-All Recognized as a Leading Policy Vendor in Celent Deal Trends Report for Second Consecutive Year
August 28 2014 - 8:00AM
Business Wire
Cover-All (NYSE MKT:COVR) was
recently recognized in a report, “North American Insurance Software
Deal Trends 2014,” published by Celent, a Boston‐based research and
advisory firm specializing in financial services.
Celent’s report tracked recent deal trends in the insurance
industry over the period of 2012 and 2013. The report highlights
deal volume of participating vendors in several categories,
including policy administration. With nine policy deals, Cover-All
accounts for the third largest number of policy administration
system deals by participating vendors, garnering 15 percent of the
total reported policy deals. Cover-All was also featured in
Celent’s prior year Deal Trends Report as having the second largest
number of policy deals among the participating vendors for that
period.
“Cover-All had a record year in 2013,” said Aaron Herrmann, SVP
– Sales and Marketing of Cover-All. “With the release of Dev
Studio, Cover-All Policy is looking ever more attractive to
carriers interested in robust product lifecycle tools that support
true speed to market. We couldn’t be more pleased with how well the
market has received our new product releases and functionality. So
far this year there have already been 7 production launch events,
and we expect to have 10-12 more before year end. By the end of
2014 there will be clear evidence that Cover-All Policy can be
rapidly and cost effectively implemented, providing a low risk and
highly robust modern policy platform for insurers.”
Today, the Cover-All suite includes Cover-All Policy, Cover-All
Claims, and Cover-All Business Intelligence, as well as additional
tools that are part of the Cover-All Studio line for Development,
Testing and Conversion. The robust functionality and in-depth
insurance knowledge inherent to Cover-All’s products have resulted
in a number of wins in 2013, including selections by Triple S,
Antilles, Allied World, Cooperativa, QBE Optima, and Society
Insurance.
About Cover-All
Technologies
Cover-All provides P&C insurance professionals a robust
state-of-the-art, browser-based family of Policy, Business
Intelligence, and Claims solutions designed to deliver products to
market faster, enhance quality, ensure compliance, and reduce
costs. With offices in Morristown, NJ, Manhattan and Honolulu,
Cover-All continues its tradition of developing technology
solutions designed to revolutionize the way P&C insurance
business is conducted. Additional information is available
online at www.cover-all.com.
About Celent
Celent is a research and advisory firm dedicated to helping
financial institutions formulate comprehensive business and
technology strategies. Celent publishes reports identifying trends
and best practices in financial services technology and conducts
consulting engagements for financial institutions looking to use
technology to enhance existing business processes or launch new
business strategies. With a team of internationally experienced
analysts, Celent is uniquely positioned to offer strategic advice
and market insights on a global basis. Celent is a member of the
Oliver Wyman Group, which is part of Marsh & McLennan Companies
(NYSE:MMC).
Media:St. Nick Media ServicesJennifer Overhulse,
859-803-6597jen@stnickmedia.com