Client Success Story, Bolton & Company

Bolton uses Patra OnDemand & Patra Select to sustain growth and enhance value

How Patra helped

The partnership with Patra allowed increased internal productivity, capacity, and ability to place Bolton's focus on customer-facing activities.
25%
Production Increase
$3M
Potential Value Creation
$432K
Expense Savings

About Bolton & Company

Bolton & Company is a leading independent insurance broker serving the needs of thousands of clients across the country. Founded in 1931, Bolton continues to grow with the industries, organizations and communities they serve every day. Their success is dependent upon fostering an innovative environment where a team of professionals can grow, develop and thrive in their roles to best support clients. Bolton is focused on sustained and strategic growth. As the organization evolves, their focus is to ensure that the business scales effectively to support the needs of their clientele.

Type of Business:

MGA

The Challenge

Several years ago, Bolton found itself in a position where the sophistication and degree of service they were providing was evolving faster than many of the internal processes that support the business. Like most offices, Bolton found themselves deep in paper processes and other labor intensive situations that were taking up valuable energy and resources.
  • Delayed Internal Processing
  • Understaffing
  • Lack of Administrative Support
  • Unsustainable Growth

The Solution

A Patra partnership, to roll out insurance processing & small accounts management services, refining workflows and workload that is scalable as growth continues. Bolton’s partnership with Patra placed their focus where it really counts—serving clients directly and providing high-touch service. Patra has delivered processing services, refined workflows and workload in a way that is sustainable and scalable. They have increased internal productivity and capacity and eliminated a lot of unnecessary work in the process.
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As Bolton & Company grows, we continue to rely on Patra as a business resource and partner that we depend on. Thanks to the support we receive from Patra, we have been able to eliminate redundant processes, increases our efficiencies and sharpen our clients."
Steve Brockmeyer, President & CEO
Bolton & Company

Achieving Desired Results

The Patra OnDemand and Patra Select partnership has allowed Bolton to realize meaningful results. Over the last three years, and as the relationship strengthened, Bolton increased their certificate issuance through Patra by 25% while Patra maintained accuracy rates of 99.6%. During that same time period, the volume of direct bill transactions increased by 29% while Patra realized an accuracy rate of 99.9%.

During the most recent fiscal year, Bolton saved approximately $432,000 in expenses by leveraging various Patra services. As these expense reductions are realized year to year, Bolton not only creates future investment capital but they also enhance the overall value of Bolton itself as illustrated below.

Bolton & Company's Patra Utilization chart

What I appreciate about Patra is that they are our partner and want to understand where and how they can help us grow our organization. We sit down and strategize together on what we’re seeing and from those conversations new ideas and solutions are born."
Mike Morey, COO
Bolton & Company
Bolton & Company

A Successful Partnership

The Patra OnDemand and Patra Select partnership has allowed Bolton to realize meaningful results. Over the last three years, and as the relationship strengthened, Bolton increased their certificate issuance through Patra by 25% while Patra maintained accuracy rates of 99.6%. During that same time period, the volume of direct bill transactions increased by 29% while Patra realized an accuracy rate of 99.9%.

During the most recent fiscal year, Bolton saved approximately $432,000 in expenses by leveraging various Patra services. As these expense reductions are realized year to year, Bolton not only creates future investment capital but they also enhance the overall value of Bolton itself.

As the relationship has grown, Bolton entrusts Patra with increasing administrative functions including policy servicing, certificate services, and support services across both the Commercial Lines and Employee Benefits lines of business.

25%
Certificate Issuance Increase
99.6%
Certificate Accuracy
29%
Direct Bill Transactions Increase
99.9%
Bill Transaction Accuracy

About Patra

As a leading provider of technology-enabled outsourcing services, Patra stands out from its competitors leading with industry expertise and an operational excellence model solely focused on helping insurance organization boost business performance. Patra optimizes insurance processes through an innovative PatraOne platform, helping insurance organizations as they sell, deliver, and manage policies and customers through our PatraOne platform. With a global team of over 5,000 skilled professionals in data-secure environments, Patra empowers agencies, MGAs, wholesalers, and carriers to achieve profitable growth and enhance organizational value.

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