Case Study:

Patra Select - P&C

Patra was asked by a leading regional agency’s management team to develop a solution that increased the profitability of the agency’s small account book of business and allowed for the reallocation of resources to support larger key accounts.

The client is a $12M agency with more than 70 employees and two locations in Texas. The agency handles a variety of policies, including personal lines, commercial P&C and benefits business.

The agency’s small accounts book of business was made up of nearly 1,000 accounts under $2,500, driving nearly 5% of total agency revenue.

With three and one-half full time employees sharing the workload of account management and back-office processing, agency leadership reported a return of between -5% and break even.

The Results

Within one year of engaging Patra Select, the agency:

  • Increased margins on small accounts, up from -5% to an average of 50%
  • Reduced agency labor costs WITHOUT affecting customer relationships or losing locally-based account management
  • Transitioned an employee to Patra’s staff
  • Increased volume of accounts served by Patra Select by 30% in the first year
  • Increased “relationship development time” with small accounts without affecting larger, key accounts
  • Reduced policy error rates significantly

Services

  • Patra Select
  • Certificate Issuance
  • Policy Checking

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