Homesite Group Selects Blue Cod Technologies to Manage California Earthquake Coverage
To support their commitment for tackling problems related to the U.S. homeowners’ insurance business, high fixed costs, limited distribution channels, and minimal technological innovation, Homesite Group, a provider of Managed Insurance Services for the property and casualty (P&C) industry, has selected Blue Cod to support the company's earthquake coverage in California.
"Providing our customers with quality coverage through the CEA is an important aspect of our California homeowners program," said Peter B. Settel, SVP, CIO Homesite Group, Inc. "Partnering with Blue Cod provides significant cost and resource allocation benefits compared with our current in-house solution, especially given the complexity of the highly regulated California earthquake market. We look forward to growing our relationship with Blue Cod in providing competitive and compliant earthquake coverage for our California customers”
With this deal, Homesite will become the 17th participating insurance company who will be using Blue Cod Managed CEA Solutions to get assistance with the intricate and highly regulated earthquake coverage process. The Blue Cod Managed CEA Solution provides participating insurers (PIs) with a cost effective and time saving alternative by enabling them to delegate the full CEA process to Blue Cod Technologies' team of experienced insurance professionals, allowing customers to put more focus on daily business operations with the confidence that their CEA processing function is precise, compliant, on-time and well-managed.
"The continued growth of the Blue Cod CEA client group is a testament to our expertise within this specialized market," said Simon de Montfort Walker, executive vice president, operations, Blue Cod Technologies, Inc. in a statement. "As the most focused and practiced CEA solutions provider, we can extend this experience to our client PIs, giving them the support and resources they need to offer advanced earthquake coverage."
Blue Cod solutions can be used for either project-based or fully managed CEA engagements. In addition, the company can also provide assistance to carriers that are exploring the option of joining the CEA to help them assess, plan and implement an effective in-house or hosted CEA processing solution.
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Edited by Brooke Neuman