Blue Cod offers property and casualty carriers the ability to outsource many of their business processes, saving time and resources for the carrier.  Our Premium Services department can handle most of a carrier’s billing needs, including same day payment processing, exception handling, daily reconciliation, multiple bill plans, check issuance, weekly ACH transfers, reinstatements and cancellations.

Standard Services:

• In-house retail and wholesale lockbox services;
• Customized remote deposit service;
• Full payment processing, including receipts of checks, cash, money orders or credit cards;
• Checks posted on day of receipt with immediate electronic deposit to bank;
• Carrier’s choice of billing plans;
• Month-end processing/reconciliation support;
• Cash with Application (CWA) processing;
• Execution of daily billing cycles, bill generation, and policy reconciliation; and
• Daily reconciliation of totals to monthly reconciliation reports.

Optional Services:

• Design and implement special payment plans to suit a carrier’s unique needs;
• Issue return premium, commission, and claim checks;
• Agency commission report processing and distribution;
• Interface to carrier accounting system;
• On-line credit card acceptance through a third party; and
• Multi-tier collection services - fully integrated collection letter campaign and/or optional 3rd party commission-based collections service.

A recently added service is our Lockbox Solution. The Lockbox Solution takes policy holder/insured payment and deposits them electronically into the bank using an industry standard image cash letter file after being verified through an extensive series of quality controls. This new process offers a wider range of services than previously offered, including: same day payment processing, cash reconciliation, exception expediting, check issuance, Allwrite letter writing, ACH transfers, reinstatement and automated rescissions, and automated cancellation process.

Blue Cod recently passed the controls and process design portion of the SAS70 Type 1 certification. Audits internally and externally were completed and suggestions that were made have been fully implemented. With numerous customers and such large numbers of payment volumes, SAS70 and standard Service Level Agreements (SLA) are just a couple of the ways Blue Cod provides quality to their customers.