Patra, a leading provider of technology-enabled insurance outsourcing and software services, is thrilled to announce the expansion in functionality of its PolicyChecking AI Self-service solution. Just...
Autore: Business Wire
Patra Continues to Lead the Way in AI-Driven Policy Checking for the P&C Insurance Industry
EL DORADO HILLS, Calif.: Patra, a leading provider of technology-enabled insurance outsourcing and software services, is thrilled to announce the expansion in functionality of its PolicyChecking AI Self-service solution. Just one month since the release of the self-service version of its PolicyChecking AI platform, Patra has more than tripled the lines of business available and added new and enhanced functionality to further streamline the critical process of checking policies.
Since its launch, Patra’s PolicyChecking AI service has gained significant traction, with a 56% increase in checked policies between Q2 2023 and Q2 2024. This rapid increase demonstrates the industry’s demand for advanced AI-driven automation in policy checking. By late 2024, the solution is on track to check over one million policies.
PolicyChecking AI Self-service Enhanced Capabilities and Line of Business Coverage Expansion
Leveraging its dedicated investments in technology and automation, Patra continues to introduce new functionality and expansion of supported lines of business to the platform. Today, PolicyChecking AI Self-service now includes:
“We are experiencing a large influx of interest and adoption of this groundbreaking solution, and clients are eagerly requesting additional capabilities such as Line of Business expansion and structured data export capabilities. We’re also gaining a lot of interest in using what we’ve built for similar processes, including quote comparison,” said Will Dogan, Patra's Senior VP of Product and Service Line Management. “We look forward to advancing our solutions to address more client and industry needs over time.” This new automation and technology are leading to more insurance organizations coming to Patra for their insurance processing needs, indicated by a 25% increase in new clients since Q3 2023.
About Patra
Patra is a leading provider of technology-enabled outsourcing services and software solutions for the insurance industry. Through the PatraOne platform, Patra optimizes the application of people and technology, supporting insurance organizations in selling, delivering, and managing policies and customers. With a global team of over 6,500 process executives in geopolitically stable and democratic countries that protect data, Patra helps agencies, brokerages, MGAs, wholesalers, and carriers achieve profitable growth and organizational value.
For more information on Patra's insurance policy lifecycle and administrative services and software solutions, visit www.patracorp.com.
Fonte: Business Wire