| Company Release – 10/26/2010 09:46 |
| The company has not simply upgraded their legacy ISO® Commercial Auto product.Instead, it has been entirely redesigned from the ground up
FAIRFIELD, N.J.–(BUSINESS WIRE)– Cover-All Technologies Inc. (OTC Bulletin Board: COVR), a Delaware corporation, today announced the release of their latest NexGen product which supports the rate, quote, issuance, subsequent transactions, and statistical reporting of ISO’s Commercial Auto product. This initial release will support 25 states, with the remaining 25 jurisdictions to be released early in the first quarter of 2011. “We followed two fundamental principles during the design of this product,” explained Manish Shah, President of Cover-All. “First, we made usability and efficiency hallmarks of the product. Intuitiveness of the information flow and innovative productivity options will not only make the experienced underwriter more efficient, but will also attract the business of agents and brokers who typically shied away from the complexity of this type of coverage.” Leveraging the power of My Insurance Center, the NexGen products boast a set of features that will have a significant impact on the entire distribution channel. With tools like import and export of scheduled locations, drivers, and vehicles, typically arduous submissions can be completed in minutes. Revolutionary “tree-style” navigation, along with intuitive field names and descriptions guide users through every step in the process, a look and feel which is consistent throughout Cover-All’s NexGen products. Mr. Shah continued, “Second, we decided to support virtually the entire breadth and depth of the ISO product – out of the box. Our rule of thumb…if it’s in the ISO manual, it’s in our product.” With input from its knowledgeable customer base, combined with its team of insurance professionals, Cover-All designed a comprehensive product that supports virtually all coverages, all coverage options, and all rating mechanisms within the ISO product itself. Three existing customers have already taken delivery of NexGen Commercial Auto, with several other customers and prospective customers in the midst of their evaluation process and are expected to take delivery within the next several months. 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. 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 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, 2008, filed with the SEC on March 30, 2009, and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2009, filed with the SEC on August 13, 2009, copies of which are available from the SEC or may be obtained upon request from the Company.
Source: Cover-All Technologies Inc. Contact:Cover-All Technologies Inc. Ann Massey Chief Financial Officer 973-461-5190 or Miguel A Edwards SVP, Business Development 973-461-5211 or Investor: Hayden IR Brett Maas, Principal 646-536-7331
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