An Alliance of Industry Leaders
Patra has brought together leaders in Insurance to create the InsurConneXtions Alliance. A gathering of industry leaders to prioritize, develop, and distribute technology solutions and industry standards to drive insurance processing efficiencies. This alliance will leverage the critical mass of aggregated volume expertise across the participants to benefit the industry and the alliance partners. This alliance will provide a faster time to market of fully vetted technology-enabled services.
Industry consolidation, changing business models and customer expectations, insurtech innovation, and a challenging global economic environment leave the insurance industry faced with many decisions to make and doing so in a rapid timeline. Collaboration and cooperation are required to accelerate technology integration into critical and high-volume processes while remaining mindful of the current industry situation.
This strategic alliance mission will be to prioritize, develop, and integrate specific technology-enabled services into critical insurance processes for driving processing efficiencies and industry standards. Industry collaboration ensures that all companies can take advantage of best practices and technologies. The alliance will quickly become a key mechanism for diffusing technical and organizational knowledge representing decades of insurance expertise.
The formation of InsurConneXtions represents leaders across insurance technology, brokerage, wholesale and specialty insurance, and represent over $50 billion in insurance premiums. The charter members of the Alliance are well-positioned to leverage their expertise, experience, and market position to accelerate the deployment of technology into a variety of insurance processes.
Your Invitation to the Future of Insurance
Change is inevitable. Knowing what changes to make, who to evaluate, and ensuring your "best-practice" is deployed correctly across your insurance organization doesn't have to be a battle you face alone. The InsurConneXtions Alliance thinktank represents leaders from across the insurance industry, coming together to design, develop, and deploy transformative updates to common workflows for the common good. For far too long, each of us in the insurance industry has acted in isolation. That ends today.
The InsurConneXtions Alliance's mission is to create a set of standard solutions that benefit the insurance industry and do so to evolve traditional workflows to become more efficient and transform certain activities from manual to digital. Our charter is to identify and embed technology into the right workflows, so companies do not have to make these decisions alone.
Innovation Starts Here Policy Checking - The Common Challenge
Chosen as the first Alliance project, policy checking represents a high-volume task across all InsurConneXtions Alliance members and the industry. For a real end-to-end policy checking solution, tight integration between people and technology is required. With millions of policies analyzed over the years, the Alliance is progressing towards solutions that incorporate automation, machine learning, artificial intelligence to accelerate how policy checking is accomplished. The Alliance will help accelerate this service with support in design, beta testing, market awareness, and operations.
"Speaking on behalf of the membership, we are excited to establish and participate in this important Alliance. As we have seen the successful digital transformation in other industries, the Insurance industry will need to rapidly adopt technology to drive efficiencies and economic value for our customers. The more technology we can integrate and embed within the services we provide, the better user experience we will bring to all stakeholders within the value-chain."
- Neil Kessler, COO, CRC Group
"The need for insurance leaders to collaborate on technology has never been more important and this InsurConneXtions will be an important and strategic contributor. With industry leading firms along with Patra’s technology and full-service delivery capabilities, a collaborative approach will help ensure a more rapid delivery of tech-enabled solutions to help solve our common challenges."
- John Simpson, President & CEO, Patra