Patra a “major contender” in Digital Platform and Augmentation Suite
Patra Named “Major Contender” in Everest Group’s 2022 Digital Platform and Augmentation Suite (DPAS) in Insurance BPS – Provider Landscape with Services PEAK Matrix® Assessment.
Launch From Original Source
As insurance BPS industry shifts from arbitrage-first to digital model, insurers increasingly seek to understand digital capabilities of service providers. Disruptions in customer preferences and insurers’ growing needs to move faster have led to a significant change in the sourcing strategy as well. In order to pivot operations in such times, digital solutions offered by BPS providers helped in enhancing speed of delivery, reducing turn-around times, improving accuracy, and the quality of products. Such transformation projects helped in simplifying the insurance process by optimizing support functions across the value chain.
The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.
BPS providers with differentiated offerings based on their unique proposition.
Players are identified on their unique proposition, which includes their offerings, scope of services, key differentiation, customer base, and approach towards the market.
Patra Corp was one of two organizations whose unique offerings were highlighted (see Matrix below):
About Patra
Patra is a leading provider of technology-enabled insurance outsourcing services and AI-powered software solutions. Patra powers insurance processes by optimizing the application of people and technology, supporting insurance organizations as they sell, deliver, and manage policies and customers through our PatraOne platform. Patra’s global team of over 6,500 process executives in geopolitically stable and democratic countries that protect data allows agencies, MGAs, wholesalers, and carriers to capture the Patra Advantage – profitable growth and organizational value.