Solution Highlights

In the modern data-driven insurance landscape, valuable business intelligence remains trapped in thousands of unstructured policy documents. Patra’s Policy Data Extract AI bridges the gap between unstructured documents and actionable insights, enabling insurance organizations to make data-driven decisions and scale operations efficiently.

Woman working on he laptop performing data extraction

Automated extraction of policy data

Support for multiple document types including policies, quotes, and binders

Coverage for 90% of P&C policy volume

Structured output in CSV format for easy integration

Comprehensive extraction of policy information, coverages, limits, exposures, and forms

Don't Let Manual Processes Erode Your Market Position

Every hour your team spends manually extracting policy data represents a lost opportunity for growth and revenue generation. Without automating the extraction process:

Staff spends 70% of time on manual data entry instead of revenue-generating activities
Data silos prevent cross-sell identification and strategic growth
Operational costs remain 40% higher than necessary
Market position erodes as competitors adopt modern solutions

Businessman manually organizing a stack of reports

AI-powered Operational Efficiency

The immediate impact of automated data extraction creates significant operational improvements. Organizations consistently report dramatic reductions in manual processing time while improving data accuracy.

REDUCTION IN DATA ENTRY TIME

ACCURACY IN DATA EXTRACTION

DECREASE IN MANUAL VALIDATION

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Our team of experts can help across all facets of the insurance market and operations. Learn how AI can power your business into the future.

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Sophisticated AI For Unprecedented Accuracy

Patra’s Policy Data Extract AI represents a transformative approach to handling insurance documentation, combining sophisticated AI technology with deep insurance expertise. Our solution delivers unprecedented accuracy and efficiency while ensuring seamless integration with your existing workflows.

Diverse Document Processing

Insurance organizations handle diverse document types, each containing crucial information for operations and analysis. Patra’s AI technology processes all major commercial lines documents while maintaining consistent accuracy and standardization.

Multiple document type support
Automated data identification
Format-independent processing
High-volume capability

Accurate Data Extraction

Accurate data extraction requires a deep understanding of insurance documentation and terminology. Patra’s solution comprehends complex insurance contexts, ensuring meaningful data capture across all document types.

Comprehensive coverage details
Policy limits and sub-limits
Exposure information
Schedule data
Forms and endorsements

Reviewing data on several reports using multiple computers

Business colleagues happily reviewing data

Flexible, Structured Data Output

Modern insurance operations require flexible, standardized data output for various business purposes. Patra’s Policy Data Extract AI delivers structured data ready for immediate use in your preferred systems.

Standardized CSV format
Data lake integration
Business intelligence ready
System-agnostic output

Impact On Strategic Growth

Beyond operational efficiency, structured policy data enables enhanced business capabilities. Companies leverage extracted data to drive growth and improve decision-making.

INCREASE IN CROSS SELL IDENTIFICATION

IMPROVEMENT IN RENEWAL RETENTION

POSITIVE ROI RECOGNIZED

DAYS

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Benefits For Your Business

Insurance distributors face unique challenges in managing and utilizing policy data. Patra’s Policy Data Extract AI delivers specific benefits tailored to each segment’s operational needs and growth objectives.

Manual data entry costs retail agencies an estimated $500,000+ annually in lost opportunities and operational inefficiencies. Beyond visible costs, manual processes create mounting competitive disadvantages as peers adopt automation solutions.

Retail organizations need efficient ways to extract data and analyze client portfolios and identify growth opportunities. Patra’s Policy Data Extract AI transforms manual data entry into strategic advantage through automated analysis and insight generation.

Comprehensive client portfolio analysis
Data-driven carrier negotiations
Cross-sell opportunity identification
Enhanced risk management capabilities
Improved client service delivery

Business woman sorting through stacks of reports

Business conference reviewing an array of reports

Program administration costs for wholesale operations remain 40% higher than necessary due to manual data handling. Complex program management across multiple carriers magnifies these inefficiencies, while manual compliance monitoring consumes valuable resources that could be directed toward growth.

Managing complex program business requires sophisticated data management capabilities. Patra’s Policy Data Extract AI provides the tools needed to analyze and optimize program performance across multiple carriers.

Detailed program performance analysis
Market trend identification
Real-time capacity monitoring
Enhanced retail partner support
Efficient carrier reporting

MGAs face significant financial pressure from manual data handling, with underwriting efficiency remaining 50% below potential and compliance costs remaining unnecessarily elevated. The complexity of managing delegated authority programs amplifies these inefficiencies, directly impacting program profitability.

Those with delegated authority need robust data capabilities for compliance and growth. Patra’s Policy Data Extract AI delivers the insights and efficiency needed for successful program management.

Authority compliance monitoring
Program performance analytics
Automated carrier reporting
Portfolio optimization
Growth opportunity identification

Colleagues Reviewing Reports and Collaborating

Transform Your Policy Data Management

Ready to unlock the value hidden in your policy documents? Schedule a demonstration today to see how Patra’s Policy Data Extract AI can transform your operations and drive better business outcomes.

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Frequently Asked Questions

Patra’s solution enables detailed profitability analysis across various dimensions including industry, size, location, and coverage type. Retail agents and brokers can track revenue, costs, and margins at both individual policyholder and portfolio levels.

Patra’s solution is designed to process policies from any carrier or program, maintaining consistent data structure while accounting for carrier-specific variations. It can handle complex program structures and multiple carrier relationships efficiently.

Patra’s Policy Data Extract AI can process both standard and program-specific forms, maintaining accuracy across different document types. Patra works with MGAs/MGUs to ensure all program-specific documents are handled correctly.

Yes, Patra currently offers three AI-powered services for retail agencies and brokers, wholesalers, and MGAs/MGUs. Please visit the Patra AI webpage for more information.