Blue Cod Technologies Raises $1.75 Million from Investors

By Ed Silverstein
TMCnet Contributor

According to a company statement, Blue Cod will use the money to upgrade its core managed insurance services business which will speed up product development, sales and marketing. Among its focuses are the California earthquake and the coastal residential insurance markets.

"Blue Cod's sales and operational performance goals are aggressive," company president and CEO Robert Bruce said in the press release. "In response, we have restructured and better focused our sales and marketing efforts, streamlined our business operations and set clear-cut business objectives. The funding combined with these key changes will allow us to intelligently, consistently and effectively grow our Managed Insurance Services business."

"Edison Ventures partners with companies that have the executive leadership, focus and innovation to be market leaders,"  Tom Vander Schaaff, partner, Edison Ventures, explained his firm’s support for Blue Cod in a company statement carried on TMCnet. "Blue Cod has proven to evolve and remain competitive even within the ever-changing and unpredictable insurance business environment. We are confident in Blue Cod's ability to deliver and we are proud to continue our support of Blue Cod."

Blue Cod provides managed insurance services for the property and casualty (P&C) sector. It focuses on carriers in the earthquake, homeowner, auto, farm and commercial markets, the company said. Blue Cod also provides specialists on insurance, technology and implementation at lower operational and capital costs than using an internal staff, the company claims.

In other recent news, Blue Cod Technologies has made available an educational white paper entitled, "Blue Cod CEA Solutions: Protect Your Business, Your Clients and Your Future." The white paper discusses implementing and managing the California Earthquake Authority's (CEA) new Homeowners Choice offering. It also explains how participating insurers can improve CEA processing, TMCnet said.