Cover-All Technologies Inc. (OTC Bulletin Board: COVR), a provider of comprehensive business solutions for the property and casualty insurance industry, announced today that it has successfully completed the implementation of My Insurance Center™ with a large property and casualty Division of a major New York-based insurance company. This implementation was completed in connection with a new multi-year agreement to license Cover-All’s My Insurance Center™, which agreement was entered into in late 2007. Under this license agreement, My Insurance Center™ has been chosen as a technology platform for the Division’s strategic growth initiatives focusing upon the delivery of new insurance products to agents and brokers.
John Roblin, Chairman and CEO of Cover-All, commented, “We are excited about this opportunity to work with this customer to help them achieve their business objectives. They are a dynamic and creative organization with sophisticated and diverse needs.
“We are working closely with them to shorten their time to market for new products and to create an efficient, easy-to-use customer experience. The capabilities and flexibility of My Insurance Center™ combined with the expertise of both organizations enabled us to implement My Insurance Center™ to deliver the first product offering in a short time-frame.
“We value our ongoing relationship with this large and important insurance organization. We believe that our reputation for delivering on our promises and providing outstanding support to our customers in other business units of this insurance company were important factors in the Division’s selection 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 – 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) and Insurance Policy Database (IPD) are 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 the Company’s Form 10-K for the year ended December 31, 2006, filed with the SEC on April 2, 2007, copies of which are available from the SEC or may be obtained upon request from the Company.