Bringing technology into critical insurance processes
InsurConneXtions Alliance to cooperate & collaborate in bringing technology into critical insurance processes.
Patra, a leading provider of technology-enabled services for the insurance industry, along with AmWins Group, CRC Group, Heffernan Insurance Brokers, are among the leading companies that have formed InsurConneXtions Alliance, a strategic alliance that will prioritize, develop, and integrate specific technology solutions into critical insurance processes – for the purposes of driving processing efficiencies and industry standards.
The formation of InsurConneXtions represents leaders across insurance technology, brokerage, wholesale and specialty insurance, and represent over $50 Billion in Insurance premiums.
With a multitude of decisions and rapid changes facing the insurance industry, collaboration and cooperation is required to accelerate the integration of technology into critical and high-volume processes. 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.
The alliance has unanimously selected to begin its collaboration by focusing on technology and efficiency improvements to policy checking. Policy checking is a high volume and comprehensive processes that performs a critical validation for accuracy and integrity of policy issuance across carriers, wholesalers and brokers. Beginning this month, alliance members will work together to drive the evolution of Patra’s industry leading policy checking solution.
“The need for insurance leaders to collaborate on technology has never been more important and this InsurConneXtions will be an important and strategic contributor,” said John Simpson, CEO and Founder of Patra. “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.”
“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,” says Neil Kessler of CRC. “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.”
These companies form the charter members of InsurConneXtions. In addition to their initial focus on policy checking, they will begin prioritizing the next set of services on which they will collaborate, along with discussions on a potential expansion of the Alliance.
AmWINS Group, Inc. is the largest independent wholesale distributor of specialty insurance products in the United States, dedicated to serving retail insurance agents by providing property and casualty products, specialty group benefit products and administrative services. Based in Charlotte, N.C., the company operates through more than 115 offices globally and handles premium placements in excess of $20 billion annually. To learn more, visit amwins.com.
CRC Group is the leading wholesale and specialty insurance distributor in the United States. The company’s brokers and underwriters use data and analytics driven insights delivered through their proprietary REDY® platform to help retail agents achieve better and faster results. Across property and casualty, executive and professional, group and individual, and other specialty insurance programs, CRC Group places more than $10 billion in premium annually. Learn more at crcgroup.com.
Heffernan Insurance Brokers is one of the largest independent insurance brokerage firms in the United States, providing insurance and financial services products to a range of businesses and individuals. Headquartered in Walnut Creek, Calif. employee-owned, Heffernan Insurance Brokers was named the Top Mid-Sized Broker in the United States to work for in 2009 by Business Insurance Magazine. The firm has been among the Top Greater Bay Area Philanthropists since 2003. For more information, visit heffins.com.
About Patra
Patra is a leading provider of technology-enabled outsourcing services and software solutions to the insurance industry. 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/brokerages, MGAs, wholesalers, and carriers to capture the Patra Advantage – profitable growth and organizational value.
