Cover-All has signed a multi-year agreement with American International Technology Enterprises ("AITE"), a member company of American International Group, Inc. ("AIG"), to provide insurance policy rating and issuance support to Lexington Insurance Company, an AIG company. The contract extends and expands the services currently provided by Cover-All to AITE and Lexington.
Cover-All has also signed a multi-year contract with a leading insurance company to renew and expand policy rating and issuance support services. Services provided include policy rating, issuance, billing and statistical reporting as well as Cover-All's exciting new offering: My Insurance Center.
John Roblin, Chairman of the Board of Directors, President and Chief Executive Officer of the Company, stated, "Cover-All is focused upon delivering value to our customers. We are very excited that these two existing customers chose to renew and expand their contracts with Cover-All. These contracts confirm that we are well positioned to build effectively on our current capabilities while demonstrating the ability to design and deliver the type of "real time", flexible capabilities that enable our customers to compete and innovate.
"The capabilities of My Insurance Center, introduced earlier this year, combined with existing products and capabilities under development, are being well received by both existing and prospective customers who are looking for technology solutions that deliver measurable business results today and increased value over time. From a financial perspective, we expect that these contracts will enable Cover-All to produce a profitable fourth quarter and an overall profit for 2002."
About Cover-All Technologies Inc.
Cover-All Technologies Inc., since 1981, has been a leader in developing sophisticated solutions for the property and casualty insurance market – the first to deliver and maintain standard commercial rating and issuance software products. Cover-All continues to expand its insurance solutions while providing superior levels of solution alternatives and service to the industry.
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.
