DENVER – March 8, 2017 – PRLog — It can be said that the insurance industry is one of the oldest, most antiquated industries in the business world today. The industry must find a way to keep up with the demands and trends of society including, but not limited to, increased connectivity among personal and workplace devices, the development of automated cars, and cyber security. As the industry concentrates more of their efforts and growth in technology through targeted data and predictive analytics, they will need to be nimble everywhere else which is great news for Blue Cod Technologies.
In 2016, Stage Fund acquired Blue Cod Technologies, the leader in back office services for the insurance industry. Although largely successful with it’s core services, when it was acquired the company was struggling financially and had not yet reached cash flow break even. For the past 8 months, Blue Cod has undergone a complete restructuring with it’s core technology, administration, marketing & sales, & executive leadership. Through this and the stabilization of the customer base, cost reductions, and a focus on profitability, the company is now profitable and planning for their growth stage.
Blue Cod’s future is based on acquisitions focused on revenue growth and technology. Stage Fund’s CEO and Chairman, Daniel Frydenlund says, “The firm is now actively looking for additional bolt on acquisitions in the analytics and artificial Intelligence space. With the company’s stabilization combined with the insurance industry’s growth trends, timing couldn’t be more perfect. The insurance industry is slow but is finally adapting to technologies that have been available for many years and is ripe for disruption. We will be part of this massive shift leveraging a very strong foundation and loyal customer base with Blue Cod, a business built over 17 years ago. We will be deploying and acquiring additional pieces of technology forming a state-of-the-
The timing is perfect for Blue Cod’s growth strategy as the insurance industry buckles down to focus on their bottom line in order to increase their efforts through the use of technology. Demands of the industry will require that insurance companies outsource non-core functions such as rate, quote, issue polices, print & distribution, policy management, First Notice of Loss (FNOL), customer service calls, etc. Blue Cod provides this and more to some of the largest insurance providers today. Visithttp://www.bluecod.com for more information.
About Stage Fund
The Stage Fund, founded in 2009 by Daniel Frydenlund, is a private equity firm focused on acquiring controlling interests in companies undergoing change in capital structure, strategy, operations or growth and can benefit from our operational and capital approach. The Stage Fund targets companies with a core business, products or services, revenue, strong customer relationships, and that have reached a point in their lifecycle presenting an opportunity for transformation. For more information, please visithttp://www.thestagefund.com.
About Blue Cod Technologies, Inc.
Blue Cod Technologies, Inc. is the leading provider of Strategic Outsourcing Solutions 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 Earthquake, Homeowner, Auto, Farm owners 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 High-Risk or State Assigned Auto, Coastal Homeowner, FAIR Plan Process and Earthquake coverage. For more information, please visit http://www.bluecod.com.