With a goal of transforming its core commercial lines operations, Universal Group, Inc. (Universal, San Juan), a personal and commercial lines carrier with operations in Puerto Rico and the U.S., announced it will upgrade to Fairfield, N.J.-based Cover-All's new policy administration platform and its commercial lines products including commercial auto, commercial package (property, general liability, inland marine, crime), boiler and machinery, EPLI and umbrella. The initiative will involve a range of functions including rating, quoting, underwriting, document generation/management and distribution, and is also intended to improve collaboration and productivity, according to the companies.
"Universal is constantly looking for new and better ways to improve services to its customers while reducing operating costs. Upgrading our existing Cover-All platform to Cover-All's new policy products will enable us to be responsive, efficient and unique in the commercial lines marketplace in Puerto Rico," said Luis Berrios, Chief Underwriting Officer, Universal Insurance Company, in a press release. "We believe that we'll be able to get a very quick return on our investment with Cover-All by upgrading to their pre-built, production-ready products."
Luis Perez Sanchez, Chief Administrative Officer, Universal Group, Inc., added in the statement, "We have aggressive plans to implement Cover-All's new products within the next three to six months."
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio