Cover-All Technologies Announces Successful ASP Prototype.Business Editors FAIR LAWN, N.J.--(BUSINESS WIRE)--April 19, 2000 Cover-All Technologies Inc. (CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. ), (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :COVR and PHLX PHLX See: Philadelphia Stock Exchange PHLX See Philadelphia Stock Exchange (PHLX). :CVA CVA abbr. cerebrovascular accident CVA, n See accident, cerebrovascular. CVA cerebrovascular accident. CVA Cerebrovascular accident, see there ), a leading solutions provider for the property and casualty insurance industry, today announced that it has successfully built and tested a prototype of its ASP (Application Service Provider) service. Via the ASP, CTI will be able to offer rating and issuance for commercial lines in all states. Companies, agents and MGAs will be able to access rating and/or issuance application software on an as-needed basis on the Internet through a desktop Web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. . The software will be maintained by CTI, providing ASP customers with timely and cost-efficient IT and business support. Alternatively, the application can be installed on company owned and managed environments. John Roblin, CTI's Chief Executive Officer, commented, "The successful implementation of the Cover-All product in an ASP environment is a large step forward in fulfilling our business strategy. It supports our commitment to the Internet business-to-business marketplace and illustrates the technical capacity to accomplish this quickly and effectively. This will enable us to address a broader spectrum of the market with business solution systems." Lines of business available through CTI's ASP include Business Owners Policy, Commercial Auto, Commercial Package Policy (Commercial Property, General Liability, Crime, Inland Marine), and NCCI NCCI National Council on Compensation Insurance (Boca Raton, FL) NCCI National Correct Coding Initiative NCCI National Company for Cooperative Insurance NCCI Namibian Chamber of Commerce and Industry Workers Compensation. Specialty and customized lines of business can also be accommodated in aggressive timeframes. Two different levels of service will be available. Level 1 provides straight ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. rating. Level 2 provides customizations and deviations of products on a company basis. Pricing will be based on a subscription license and usage charges. Founded in 1984, CTI is a leading software developer dedicated to providing solutions and services to the property and casualty insurance industry. Utilizing the latest software technology, the Company specializes in providing effective, forward-looking business solutions. CTI is based in Fair Lawn, New Jersey Fair Lawn is a borough in Bergen County, New Jersey, United States. As of the United States 2000 Census, the borough population was 31,637. As of 2006, the Census Bureau estimate a population of 31,246. . More information may be obtained from the company's Web site at www.cover-all.com. 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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, delays in productivity programs and new product introductions, 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, copies of which are available from the SEC or may be obtained upon request from the Company. |
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