Insurance-focused managed service provider (MSP) Blue Cod Technologies has been named in Novarica's "Insurer IT Services Providers 2011" report, which details all of today's top IT solution providers in the insurance industry, the company announced.

The research firm developed an overview of Blue Cod's solutions as well as those of 28 of their MSP competitors in the space to provide insurers with a one-stop shop for information on IT vendors. Specifically, the report breaks down the level of experience that each MSP has in providing specific IT services to insurers.

"Small and midsize insurers have had a tendency to use IT services providers primarily on a project basis, but more and more are considering making these firms a continuous element of their IT resources," co-author Matthew Josefowicz noted in a release. "Firms with a strong focus on these smaller companies can make this transition easier."

Blue Cod president and CEO Bob Bruce said that his company specializes in providing managed insurance services to the small and medium-sized businesses, a sector that he believes is often ignored by other competitors in the field.

"Additionally, Blue Cod's focus on several highly-specialized programs, including California Earthquake Authority and Coastal Homeowner lines, gives carriers instant access to the expertise and processes they need to easily enter and succeed in these niche markets," he said.

The news comes during the same month that the MSP was named to Forrester Research's (News - Alert) "Emerging Technology Vendors That Insurance Enterprise Architects (EAs) Should Watch in 2012" report, which included only 10 other vendors.

Forrester senior analyst Ellen Carney suggested that insurance companies are flocking to technology vendors to compensate for the changing tides in the industry, headlined by rising consumer demands, aggressive claims losses and burgeoning technologies like M2M.

Blue Cod's recent success in the managed insurance services space helped the Massachusetts-based firm recently make its first appearance on the Inc. 5000 list for fastest-growing private companies in the U.S.

Beecher Tuttle is a TMCnet contributor. He has extensive experience writing and editing for print publications and online news websites. He has specialized in a variety of industries, including health care technology, politics and education. To read more of his articles, please visit his columnist page.

Edited by Rich Steeves