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News/In the News/Company of the Year – As Featured in Insurance CIO Outlook

Company of the Year – As Featured in Insurance CIO Outlook


October 12, 2020
Insurance CIO Outlook Company of the Year September 2020
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Leading Customers on a Journey into the Future of Insurance

In the context of business, the adage, "Stick to what you know" entails that an organization must focus on its strengths rather than investing time and resources into functions that, albeit integral to its processes, fall outside its area of expertise. With regard to insurance brokers, the priority should ideally be selling insurance, developing and creating new insurance products by partnering with carriers and getting them all into the market faster than their competitors. However, the growing significance of insurtech and how it impacts insurance-related processes have pushed insurance brokers to venture out of their comfort zone. Suddenly, they are required to address technology-related “peripheral aspects” of their business, such as researching and deploying the ideal Loss Runs application, Policy Checking software, Insurance Cert (Certificate) tracking and compliance management software, Insurance Indexing system, and various other technology solutions needed to serve their customers better.

"We are taking customers on a journey into the future of insurance. They need not worry about which technology solutions to evaluate or deploy," John Simpson, Patra Founder & CEO.

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