Cover-All, a provider of modern P/C insurance technology solutions, has announced a strategic alliance with MFX, a wholly owned subsidiary of Fairfax Financial Holdings LTD and a provider of hosted IT applications and outsourcing solutions.
The alliance aims to offer Software-as-a-Service (SaaS (News - Alert)) solutions for core system suite and data analytics to the P/C insurance marketplace using Cover-All Policy and Business Intelligence software.
Officials with Cover-All said that the company’s robust policy administration, bureau lines of business, specialty lines of business and business intelligence offerings, when combined with MFX's end-to-end Integrated Insurance Platform, will provide high quality SaaS service offerings to P/C insurance companies for a subscription fee.
According to company officials there are lots of benefits of the new Cover-All/MFX offerings including-Robust and industry-leading policy administration including rating, quoting, underwriting, policy lifecycle management; Production-ready bureau products as well as quick rollout of specialty products; and intuitive business intelligence capability with pre-built dashboards, reports and P/C specific measures and dimensions among other such things.
"Our products have been designed with scalable, multi-tenant architecture for providing SaaS offerings to meet the unique needs of P/C insurance carriers," said Manish Shah, president and CEO of Cover-All, in a statement.
Shah said that with the company’s partnership with MFX, insurance carriers will have an attractive option that can truly fit their technology strategy.
“We are especially excited about the relationship with MFX because like Cover-All, the technology and services experts at MFX are customer oriented insurance professionals," he said.
Raymond A. Roy, CEO of MFX, added that Cover-All Policy is a comprehensive option that draws on deep industry experience, a fitting addition to the MFX integrated software suite.
“MFX has long recognized the importance of comprehensive reporting and analytics, so we are very excited to combine Cover-All's Policy and Business Intelligence solution with our Integrated Insurance Platform,” said Roy.
Cover-All's BI product leverages the company’s comprehensive enterprise-wide insurance data and the pre-built BI content, coupled with its collaborative, self-service capabilities, allows it to be used by all areas within a client company.
Earlier in September, Allied World Assurance Company Holdings, AG, a global provider of property and casualty insurance and Cover-All announced that Allied World U.S. selected Cover-All Policy, Cover-All Commercial Auto, Cover-All General Liability, Cover-All Dev Studio and Cover-All Test Studio to help expand the company's standard and specialty commercial lines operations, including rating, quoting, underwriting, and policy lifecycle management.
Allied World U.S. will utilize Cover-All services for implementation of these solutions.
Edited by Alisen Downey