Monday, June 17, 2013 8:35:26 AM
THE PRODUCTS. Going forward without question customer contracts, both new and upgrades/renewals, will determine the success of the company. Before going any further we need to try and determine as to whether COVR has quality products. I would argue that the answer is "yes" supported by the following:
1) 9 customers (3 new, 6 upgrades/renewals) have signed contracts to utilize the new products.
2) 2 of the 9 customers are Tier 1 insurance companies with one of them being a new customer.
3) Some time back when beta testing was taking place Manish mentioned on a CC that he had customers telling him that they did not want COVR to take the new system away from them....that they needed it.
4) As one would expect COVR management has raved about them but in my opinion John Roblin is a man of both high integrity and honor and when he spoke about the new product(s) it was with a great amount of conviction/pride.
In summary with a strong weight on reasons #1 and #2 ("actions speak louder than words") I have a great deal of confidence that COVR does in fact have quality products that are well positioned to compete in the marketplace.
What is also interesting is that this represents an investment opportunity where the product(s) are already (i.e. available for sale) in the marketplace as opposed to being "under development" with the company telling you how great they will be when finished, etc.
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