Cover-All Technologies, a provider of P/C insurance technology solutions, and MFX, a wholly owned subsidiary of Fairfax Financial Holdings LTD and provider of hosted IT applications and outsourcing solutions, have entered into a strategic alliance to offer Software-as-a-Service (SaaS) solutions for core system suite and data analytics.
Per the agreement, Cover-All’s policy administration, bureau lines of business, specialty lines of business, and business intelligence offerings will be integrated with MFX’s end-to-end Integrated Insurance Platform, providing high quality SaaS service offerings to P/C insurance companies for a subscription fee.
“Our products have been designed with scalable, multi-tenant architecture for providing SaaS offerings to meet the unique needs of P/C insurance carriers,” Manish Shah, president and CEO of COVR said via news release. “With our 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.”
The combination of COVR and MFX offerings are expected to provide:
• 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
• Intuitive business intelligence capability with pre-built dashboards, reports and P/C specific measures and dimensions
• Application hosting via three fully certified SAS70 SSAE16 data center facilities for customers looking for secure and scalable SaaS solutions
• Business process outsourcing (BPO), infrastructure, application support and outsourcing capabilities, statistical reporting and data administration services for carriers with back-office needs that require flexibility, cost-effectiveness, and responsiveness to changing business requirements and aggressive timelines.
MFX CEO Raymond A. Roy further emphasized the complementary aspects both entities bring to the table.
“Cover-All Policy is a comprehensive option that draws on deep industry experience, a fitting addition to the MFX integrated software suite,” Roy stated. “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. Cover-All’s BI product leverages our 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.”
For more information visit www.cover-all.com
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