Patra AI Wins ISG Award for Software Innovation Excellence

Founded in 2005, Patra has spent 20 years building unparalleled expertise exclusively within the insurance industry. This focused approach has enabled the company to develop deep domain knowledge and specialized solutions that address the unique challenges facing insurance organizations across the entire policy lifecycle. Patra’s dual approach combines cutting-edge AI-powered software solutions with comprehensive technology-enabled business process outsourcing services, supported by a global team of over 6,500 process executives.

“The importance of innovation in AI for the insurance industry is essential to the ultimate success of managing customer and policy processes, mitigating risks, and ensuring compliance,” said Mark Smith, ISG Partner and Chief Software Analyst, ISG Software Research. “Patra’s decades of focus on insurance and innovation have allowed them to build AI that delivers measurable impact and value. Congrats to Patra and the entire team for your dedication and focus.”

The ISG Software Innovation Award™ for Industries recognizes innovation across multiple sectors, including automotive, consumer goods and retail, energy, financial services, healthcare, manufacturing, public sector, media and telecommunications, travel and hospitality. Patra’s selection in the financial services category reflects the company’s leadership in delivering transformative technology solutions specifically designed for insurance organizations.

“Winning the ISG Industries Award validates our 20-year commitment to advancing insurance technology through both innovative AI software and comprehensive BPO services,” said Will Dogan, Senior Vice President of Product and Service Line Management at Patra.

Patra’s award-winning approach encompasses two complementary areas of expertise. The company’s AI-powered solutions, including Policy Checking AI, Quote Compare AI, and Policy Data Extract AI utilize sophisticated algorithms and machine learning to automate complex insurance processes, reduce errors and omissions exposure, and enhance operational efficiency. “These solutions offer flexible implementation options ranging from fully automated processing to comprehensive human-in-the-loop workflows,” said Dogan.

Simultaneously, Patra’s technology-enabled BPO services provide comprehensive support across the insurance policy lifecycle, from employee benefits administration and virtual staffing assistance to small business management and contact center operations. This combination of AI innovation and human expertise allows insurance organizations to optimize their operations while maintaining the personal touch that insurance relationships require.

The ISG Software Innovation Excellence Awards are judged by analysts with ISG Software Research and represent a significant recognition within the technology industry. ISG serves as a trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, and is recognized as a leader in technology and business services research and advisory services.

Patra’s exclusive focus on insurance distinguishes it within the broader financial services technology landscape. While many providers serve multiple financial services sectors, Patra’s deep specialization has enabled the development of solutions specifically engineered for the complexities of insurance operations, from policy administration and claims processing to regulatory compliance and risk management.

For more information, visit patracorp.com.