Cover-All Recognized as a Leading Policy Vendor in Celent Deal Trends Report for Second Consecutive Year
MORRISTOWN, N.J.--(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.
“Cover-All had a record year in 2013”
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.
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).