FAIRFIELD, NEW JERSEY (August 25, 2010) – Cover-All Technologies Inc. (OTC Bulletin Board: COVR.OB), a Delaware corporation, today announced the delivery of an entirely custom Church insurance product offered by Alfa Mutual Insurance Company, which includes a combination of Liability and Property coverage in Alabama, Georgia, and Mississippi.
Leveraging My Insurance Center’s™ NexGen Custom Product Framework, in just 54 days, working closely with Alfa’s business stakeholders, the Cover-All team documented the requirements, developed and delivered the custom product which supports the entire policy lifecycle, including submission, rating, print, and all subsequent transactions.
“The speed and accuracy of this process would not have been possible without Cover-All’s framework,” commented Ken Stephens, VP of Alfa’s Property & Casualty Systems Implementation.
“With our Church product now powered by NexGen, our agents will be more efficient and competitive in serving this vital market,” expressed Beth Chancey, VP of Property and Commercial Underwriting for Alfa. “We are also looking forward to leveraging the straight through processing capabilities of My Insurance Center to greatly enhance our underwriting workflow.”
This delivery represents a second installment for Alfa, which signed with Cover-All late in the fourth quarter of 2009. The first installment, Commercial Package, Commercial Auto, and BOP, each in three states, was already delivered earlier in the year.
“We are excited at the opportunity to serve the Farm Bureau community,” explained Miguel Edwards, SVP of Business Development for Cover-All. “Given our strength in Commercial Lines and our ability to quickly deliver custom products designed specifically to meet the needs of our customers, we are uniquely positioned to help Farm Bureaus and Mutuals such as Alfa, grow their commercial and specialty book, while simplifying the underwriting process.”
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.
About Alfa Mutual Insurance Company
Headquartered in Montgomery, Ala., Alfa and its affiliates provide insurance and other financial services to more than 1 million customers in 12 states. For more information, visit www.AlfaInsurance.com or call 1-800-964-2532.
Additional information is available online at www.cover-all.com.
For information on Cover-All, contact:
Miguel A Edwards
SVP, Business Development
973/461-5211
medwards@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.
For information on Cover-All, contact:
Ann Massey
Chief Financial Officer
973/461-5190
amassey@cover-all.com
Investor Contact:
Hayden IR
Brett Maas, Principal
(646) 536-7331
brett@haydenir.com
