aboutCover-All Technologies
Products & services. Policy Administration for Commercial Property & Casualty |
rating, issuance and update Services for iSo and NCCi in all states | Specialty Lines | Business intelligence
By Miguel A. Edwards
SVP of Business development,
Cover-All Technologies, inc.
Making Sense of a Crowded Space
Working with our customers over the years, we have developed a solid and
thorough understanding of what factors drive their business – more specifically
how they look at the ways to use technology to achieve a sustainable competitive
advantage. The common themes we hear include: expand the distribution
channel, broaden and deepen product offerings, improve speed to market, cut
costs, develop and leverage unique insights by combining data internal and
external to the organization, and the ability/flexibility to act quickly.
These themes have been central to the evolution of our solution set over
the past ten years, and were a driving force in a re-architecture of our platform
which began six years ago and continues to add new capabilities. But with so
many vendors in the “Policy Administration” space, all using the same buzz
words, all claiming to offer “the key” to your business, how does one select
the right partner? Frankly, there isn’t a one-size fits all answer that would end
your selection process today. However, with more than a few implementations
and successful partnerships under our belt, we’d like to offer the following
three points for you to consider as you search for a partner/solution:
What are your objectives, and what enablers do you need to achieve them?
early in your analysis, it is extremely useful to define the business objectives
(results) and how these results will be measured. only then can you determine
what capabilities you will need to reach those objectives. As you consider the
features of the ideal solution, it is also important to remember how those new
enablers will impact the organization. With the business objectives in mind,
combined with new capabilities like straight-through-processing, it is very
important to consider potential changes to workflows, and the redefinition of
organizational and individual roles and responsibilities. Without this critical
step, you could be simply replacing your current solution with a shinier one, but
find yourself unable to reach your business objectives or maximize your return
on the investment. As an aside, this is a great opportunity to innovate. don’t
be constrained by existing processes, work-arounds for yesterday’s problems,
or unnecessary complexities. Leverage the expertise of your experienced vendor
partner to explore new means to new ends – always challenging the status quo
with a question – why or why not?
Rules and Tools vs. Full service
Lack of flexibility, poor turn-around times, and exorbitant costs associated
with homegrown and legacy vendor technologies, gave rise to the rules and
tools based products on the market today. The idea was that customers could
maintain their product set more effectively and efficiently than a vendor.
There are potential issues with this line of thinking, however:
The Cover-All Difference
Cover-all Technologies combines our unrivaled experience in the industry
with the latest, most flexible solution set, geared toward addressing your
business objectives. our full-service solution allows you to focus on growing
your business, not maintaining your technology. We invite you to start a dialogue
with us today. Put us to the test and see if we measure up to the philosophies
we’ve outlined above. n
Cover-All Technologies, Inc.
973.461.5200
www.cover-all.com
medwards@cover-all.com
