With a subtle art of blending powerful resources – technical innovation and human process excellence – Patra leads the insurance transformation in the market.

Two complementary and parallel trends are shaping the insurance industry.  The first is the progression and adoption of digital transformation services and platforms across the insurance policy lifecycle and administrative support spectrum.

These technical advancements are delivering on automating, digitizing, and providing operational efficiencies greater than any human provides, simultaneously reducing errors in the work product and providing turnaround times that match consumers' expectations. 

Patra Corporation, William Wagner, Vice President of Marketing and Inside Sales, says, “The technology efficiently is further enhanced with the second trend, which is, organizations look for their service providers to provide a holistic, consultative approach.  Focusing on a series of related tasks and needs to provide long-term growth opportunities, reduced operational risk exposure, and increased operating margins.  Insurance process executives leveraging technology can augment technology, notice and adapt to trends, and guide how best to serve customers in a high-touch market like insurance.”

At Patra, the team works with the executive suite, operations management, and staff; the challenges seen have a common theme.  The employment market is highly challenging; whether COVID disrupted their office environment structure or an aging demographic isn’t returning to the office, there is a considerable shortage of qualified insurance professionals, causing those still in the market to have the leverage to change employers.  It causes customer satisfaction, turnaround time, and quality issues because the insured expects rapid turnaround times, and there simply is not enough staff to meet those SLAs. 

On the technology side, insurance companies are looking to service providers like Patra to augment their staffing shortage but do so in a manner that provides long-term support and scale.

“With a global workforce of process executives and a technology platform called PatraOne that powers all our automation and digital transformation tasks, we can work around 24/7 to meet our  SLAs.  By applying our technology, wereduce  errors in work, ensure a thorough review of all policies and can provide guidance in how to transform workflows to reduce waste.  We can process one task or a suite of related or unrelated tasks, and with over 5,000 process executives, our bench strength cannot be matched by in-house staff,” says William Wagner.

Elaborating on the statement – Patra’s services have change the way insurance is sold and delivered. William Wagner says that as a pioneer within the insurance industry to take a human-centric approach to technology adoption, their PatraOne technology platform, combined with the agile service delivery methodology, is the most comprehensive and adaptable on the market.

“Patra merges operational capabilities and integrations with data-driven insights in our problem-solving approach by anticipating customers’ needs across the spectrum of insurance touchpoints.  Our PatraOne platform is modular, extensive, and provides a suite of  services and solutions designed to cohesively work together to provide our customers with a complete, end-to-end insurance service offering,” says William.         

Citing the case studies, William says that since 2007, USI and Patra have partnered to develop strategies that drive efficiency, lower costs, and reduce errors.  Currently, Patra processes nearly 80% of USI’s certificates and continues to develop and implement new managed services for USI.

Patra’s ability to tailor a solution to fit unique agency needs has allowed us to develop new managed services based on USI’s specific needs.  USI values Patra’s E&O coverage and quality assurance team, reducing its risk exposure.  Patra’s dedicated USI Process Executives work three shifts, providing 24-hour support and allowing USI account managers to see work in real time over a secure network.

Talking about the competition and the strategies employed by Patra Corporation, William says, “Our RPA and Machine Learning -enabled processing design provides intelligence to help identify business risks and l trends and is compatible with Patra’s cloud-based solution CertVault.  From policy issuance, certificate processing, and employee benefits enrollment, placement, and binding to newer and more advanced services like AI, OCR, and RPA for policy checking, , and digital certificate distribution, our solutions are built to maximize both the value of the machine and human time.  Paired with our globally diverse workforce, we can support our clients 24/7.  We offer a unique on-demand pricing model  allowing our clients to optimize their capital expense.”

From implementation to deployment and throughout the life of the client relationship, Patra’s teams work seamlessly with insurance management platforms to drive sustainable growth and elevate their customer experience.

Research predicts that, by 2030, millennials and their successors want to be challenged, inspired, and work for innovative companies.

Patra provides this employee experience and brings AI, RPA, ML, and automation to the customers.  Employing an agile service delivery methodology, Patra applies insurance processing best practices and automation technology for operational efficiency and first-class customer experience.

“We continue to focus on expanding our services deeper within the US and Canadian markets.  Patra continues to look out 3, 5, even 10 years to identify areas in the insurance lifecycle where we can invest, identify underserved markets through tech-enabled services, and ensure that their existing customers maximize their investment in Patra,” says William Wagner.

Since 2005, Patra has built an executive and management team that has enabled the company to grow and succeed regardless of the challenges.  Leaders from all levels are unified in putting people first, acting with integrity, honesty, and respect, and doing what is right for the customers and company.  Since 2005, their tech-enabled services have set the insurance industry standard for quality, efficiency, and value.

“With over 235 customers spanning 650 offices across the United States and Canada, Patra has been recognized as one of Inc. 5000’s ‘Fastest Growing Companies of the Year’ for six consecutive years,” adds William Wagner.