February 28 2014

Patra’s reputation within the retail agency marketplace is as an effective processing partner that can allow retail agencies to be more flexible, agile and competitive. It’s always nice to hear from clients that we’ve improved their back-office, whether it’s by reducing workload on staff, improving client relationships or simply making the agency run smoother.

The range of services provided by Patra goes well beyond simply serving retail agencies. Our workflows and processes have been successfully modified to meet the needs of MGAs and wholesalers. Currently, we work with a number of firms taking advantage of a wide variety of services.

MGA and Wholesaler Services:

  • Loss Control – As loss control recommendations are written by carriers, we enter information into the agency management system, allowing underwriters to follow up with retail brokers and ensure recommendations are handled. When responses are received from an insured, Patra will enter data and close underwriter activities.
  • Renewal Preparation – Patra will set up new policy terms in the agency management system and attach necessary reports (loss runs, experience modification rating pages, credit ratings, etc.) to the account. Patra will also send renewal correspondence to retail brokers asking for renewal information.
  • Claim Updates – When retail brokers request status reports for Experience Mod Ratings, claim payment reductions, or insured claims reviews, Patra will retrieve reports from carriers and deliver to the retail broker.
  • Workers’ Compensation Rating – For many workers comp programs, Patra will rate new business and renewals within carrier systems.
  • Audit Ordering – As an MGA or wholesale broker determines an audit is required from carrier or outside vendor, Patra will manage the audit list according to broker criteria and deliver to audit vendor.
  • Workers Comp Ex Mod – As reports are received from carriers, Patra will distribute ex mod worksheets to retail brokers.
  • Loss Runs – Patra will receive requests from the retail broker, MGA or wholesaler, retrieve loss runs from carriers, and deliver reports as needed.
  • Notice of Cancellation/Reinstatement Notices – Patra will send notices to retail brokers, attach within the MGA or wholesale broker’s agency system and set up diaries for follow up. Underwriters will be notified of cancellations or any other changes.
  • Policy Issuance – Working within carrier systems or other proprietary systems, Patra can issue policies and send to the retail broker.

Services overlapping with retail agencies:

  • Direct bill posting or entry
  • Retail broker bill postings
  • Data entry
  • Special projects
  • Policy checking (e.g., checking for premium and named insured accuracy)
  • Certificate monitoring
  • Certificate issuance

As with all Patra services, everything we do is invisible to agency outsiders and integrates seamlessly with existing systems and workflows.