Marlborough, Mass. – November 28, 2011 – Blue Cod Technologies, Inc., the leading managed insurance services provider for the property and casualty (P&C) industry, today announced the availability of the Blue Cod CEA Solution compliant with the new rate changes imposed by the California Earthquake Authority (CEA). As the premier provider of CEA solutions, Blue Cod currently supports four of the 17 participating insurers (PI) and has effectively implemented the new rate changes for its clients at a lower operational and capital cost than possible through a carrier’s in-house team.

The CEA’s new rates will enable participating insurance companies’ policyholders to purchase more affordable earthquake coverage. However, the changes have required an exceptional and dedicated effort from PIs to comply with production deadlines. Blue Cod Technologies boasts an established CEA framework, expertise and resources that enable client carriers to meet the arduous production deadlines and process earthquake policies at a fraction of the cost and resource requirements of an internal team.

“As a CEA member, we can offer our customers a more competitive product while significantly reducing our risk,” said Ardith Bequette, vice president, insurance operations, Armed Forces Insurance (AFI). “And, as a Blue Cod CEA client, we can benefit from our CEA membership without drawing on critical in-house resources. From better protecting our business and clients to gaining improved efficiencies and domain knowledge on the California earthquake market, the combined value of working with the CEA and Blue Cod is very clear.”

The Blue Cod CEA Solution provides PIs with a cost- and time-effective alternative by enabling them to delegate the full CEA process to Blue Cod Technologies’ team of experienced insurance professionals. This allows customers to remain focused on daily business operations with the confidence that their CEA processing function is precise, compliant, on-time and well-managed.

“The Blue Cod team boasts the most concentrated and focused CEA expertise in the market,” said Simon de Montfort Walker, chief outsourcing officer and executive vice president, operations, Blue Cod Technologies, Inc. “Current PIs can confidently offload their CEA workload and non-participating carriers can quickly launch their CEA coverage by engaging Blue Cod’s proven operations and systems.”

The next deadline is July 1, 2012 for the new Homeowners Choice product. Through the Homeowners Choice product and the advanced analytics available as a result of changes to the CEA reporting system (EPICenter), the CEA can more easily add new coverage options, thereby delivering more affordable and flexible earthquake coverage. As PIs prepare for the next phase of the 2012 CEA rate change or investigate processing alternatives, Blue Cod Technologies is equipped today to support either project-based or fully managed CEA engagements. Blue Cod Technologies can also work with carriers exploring the option of joining the CEA and help them assess, and if necessary, plan and implement an effective in-house or hosted CEA processing system.

Free Webinar – Blue Cod CEA Services: Protect Your Business, Your Clients and Your Future
Blue Cod Technologies will host a free webinar titled, “Blue Cod CEA Services: Protect Your Business, Your Clients and Your Future” on Monday, December 12, 2011 from 12:00 p.m. to 1:00 p.m. EST. The webinar will discuss the major challenges presented by the first phase of the 2012 CEA rate change and lessons learned that will enable carriers to effectively meet the implementation requirements of the Homeowners Choice product. The discussion will also identify potential pitfalls to avoid, and provide practical guidance on the full implementation of the CEA Homeowners Choice product. The presentation will provide insight into how carriers can either create a viable in-house program or engage professional outsourcing support to effectively and efficiently update and maintain the new CEA product. The presentation will be delivered by Walker and Nyann Dordan, CPCU, AIS, product offerings manager, Blue Cod Technologies. For more information or to register online, please visit: www.bluecod.com.

About the California Earthquake Authority
The California Earthquake Authority (CEA) is a publicly managed, largely privately funded organization that provides catastrophic residential earthquake insurance and encourages Californians to reduce their risk of earthquake loss.

About Armed Forces Insurance (AFI)
Since 1887, Armed Forces Insurance (AFI) has existed with a single, unwavering purpose: To protect the people who protect our nation. So for more than 120 years, we've provided military homeowner's insurance, military renter's insurance, military auto insurance and much more to our members. AFI was originally formed and continues to be led by former military leaders who understand the unique challenges that come with military service. We proudly serve active, retired and former military personnel, their families and civilian Department of Defense employees. AFI is a “reciprocal exchange,” a type of cooperative insurer in which the policyholders bear a relationship to each other. In effect, AFI is owned by the policyholders we serve. Our Subscribers’ Advisory Committee, composed of active duty, reserve and retired military members, represents the insurance needs of members. The Board of Directors of the Attorney-in-Fact manages AFI business operations.

About Blue Cod Technologies, Inc.
Blue Cod Technologies, Inc. is the leading provider of managed insurance services for the property and casualty (P&C) industry and addresses the support and technology needs of start-up, SMB and enterprise-class carriers in the Homeowner, Auto, Farmowners, Earthquake and Commercial Package markets. Blue Cod’s team of experienced insurance, technology and implementation specialists deliver high-end insurance services at a lower operational and capital expense than can be achieved through an organization’s internal staff.  Blue Cod Technologies offers customers the ability to create customized solutions or take advantage of specialized programs such as CEA Process, FAIR Plan Process, Assigned Risk Auto and Coastal Homeowner that bundle services to address common insurance challenges.

Contact:
Blue Cod Technologies, Inc.                                                                                  
Karen Regan                                                                                                           
508-683-2876