Cover-All Enters Claims Market with Acquisition of BlueWave

The addition of a claims solution is an important milestone in Cover-All's expansion of solutions to the property & casualty industry. Cover-All will continue to market, expand and support BlueWave Claims as astand-alone claims solution.  Cover-All is pleased to be able to retain most of the employees of BlueWave, including president Alyssa Hostelley and COO Keith Inouye.

While BlueWave Claims, like Cover-All's other solutions, will continue to be offered as astand-alone component, it is also being fully integrated with NexGen Policy (My Insurance Center), NexGen Business Intelligence, and NexGen Billing (currently in development) to create an enterprise platform for the property & casualty marketplace.

In order to accelerate the growth of the Cover-All/BlueWave Claims solution, Cover-All announces that Aaron Herrmann is joining Cover-All as vice president of sales focusing on the claims solution.  Herrmann has more than 16 years of insurance software sales experience and nine years providing claims administration solutions to the industry.

"Many insurers are looking to source all, or nearly all, of their core systems from a single vendor," says Donald Light, senior analyst for Celent. "Cover-All's acquisition of PipelineClaims is an important expansion of its core system offerings, building on its 2010 acquisition of Moore Stephens Business Solutions' business intelligence and analytics solution. Cover-All now has more things to talk to insurers about, which is always a good thing."

"We are continuing to see the consolidation trend in the market as component-based solution providers position for enterprise suite deals," says Karen Furtado, partner with Strategy Meets Action. "The pendulum has been swinging in the direction of core system enterprise solutions which has created a challenging environment with a large number of policy or policy/billing players and few full suite options.  As with similar transactions taking place in 2011, this will be an offering that will bear watching to see how it develops from both architecture and go-to-market viewpoints."

The acquisition of BlueWave by Cover-All represents an additional pillar of Cover-All's broader growth strategy as it looks to expand its property & casualty customer base by offering additional leading-edge capabilities.  In addition to the BlueWave acquisition, Cover-All also introduced a significant number of products in 2011 as part of this growth strategy.  They include NexGen Commercial Automobile, NexGen Commercial Package, and NexGen Business Intelligence.

"2011 was an incredible year of expansion for Cover-All with the release of three major new products and the BlueWave acquisition," says John Roblin, chairman and CEO of Cover-All. "This is not an "if you build it, they will come" strategy but is rather a direct response to what our customers and prospects have told us.  Virtually all are expressing the need for a flexible, function rich, pre-integrated solution and often the preference is for such a solution to be provided by a single vendor.  Some would prefer to implement one component at a time; others are opting for a "big bang" implementation.  Cover-All can now support all these options to allow customers to select the best option for them."

Roblin believes 2012 will be an outstanding year for Cover-All as the impact of new products and sales initiatives combined with the BlueWave acquisition position the company as a "must see" for organizations looking for modern technology solutions.

"We are combining and expanding our sales and marketing organization to broaden our marketplace presence," he says. "We will continue to develop and acquire exciting capabilities in support of our goal to be the partner of choice to our customers and prospects as we remain focused on growing our business aggressively and delivering value to our shareholders."

Manish Shah, Cover-All President & CTO, commented, "We are very excited that we were able to acquire Pipeline Claims™ and BlueWave.  The appeal of Pipeline Claims™ was easy for us to recognize.  From a technology perspective, not only had BlueWave created a new, modern claim solution which contained the functionality and performance that the marketplace would demand, but it haddone so using the same technology base used by Cover-All in creating My Insurance Center.  This was attractive to us because we believe that this will facilitate a smooth integration of BlueWave Claims with My Insurance Center and allow for enhanced development of the product going forward.  Moreover, it was clear to us that, like Cover-All, BlueWave has been committed to developing superior products and delivering outstanding customer service. Given that alignment, we made the strategic decision to buy and leverage the multi-million dollar investment already made by BlueWave to bring the product successfully to market, saving both significant dollars and time.  Given our experience with our previous acquisition, we expect to move forward aggressively to expand the Claims product and integrate it with our existing products."