The Patra Perspective, unlocking efficiency with PolicyCheckingAI
Enhanced efficiency
Improved data quality
Scalable offering
Hi. I’m Brett Cleveringa, VP of product here at Patra. So artificial intelligence is really taking a computer and giving it the ability to think more like a human being at a bare basic level.
How Patra leverages AI is in a few different ways. We can use it in the course of our own business to help automate workflows that our teams will execute. We also have recently brought it to market as well in the form of a software product with embedded workflows to help automate data extraction, data comparison, for the insurance industry as well. So Patra is roughly a 20 year old company really focused on helping alleviate a lot of the pain points of back office and insurance workflows. And about four or five years ago, really started looking at the ability to take artificial intelligence, automation, and embed it into our service offering.
And a couple of years ago, we executed our Policy Checking AI full service solutions, have enhanced that to bring a self-service version of the product to market. Really focused again on taking a scalable approach, looking at documents, looking at structured data, extracting data out of documents to be able to be used in various workflows and services. Policy Checking AI is our tech-enabled solution to a burdensome process that historically has relied on a human, a user, either someone at Patra or someone at one of our customers to review multiple insurance documents, compare them together, and identify potential variance, potential discrepancies that could lead to an E&O risk.
Our Policy Checking AI solution enables a technology approach where we provide step-by-step user-driven work flows and then embed artificial intelligence into those workflows to help automate, read those documents, extract the data, and then auto-compare information across multiple documents. Really, the focus of that or the values makes people much more efficient at doing something that was previously an entirely manual process.
Our Policy Checking AI solution helps do a couple of things. Really helps focus on data quality. Instead of just a human-only approach to comparing data, we can actually leverage technology as well to provide a best-in-class solution that combines the best of technology automation with an informed insurance user to make the best decisions and and provide the highest value, highest level output. We also can continue to increase our offering. So if yesterday we were checking a couple hundred items or a couple hundred data points, today we’re now checking 300, 400, 500 that can continue to expand and continue to scale across various lines of business in the future as well.
What excites me most about that from a technology standpoint: Patra really has focused on solving a lot of problems on the servicing side and some really tedious manual pain points in the insurance space. It’s a very document-heavy industry. We deal with documents that require someone to interpret that information. We can leverage AI. We can leverage technology to provide really intuitive workflows that allow our people or allow an agency user at our at our customer to move much faster and do a lot more work in a shorter amount of time as well. You can go to our website. We’ve we’ve got request forms. You can request demos from our sales team, and and our team would be happy to follow-up with you, provide some detail on the value of our solutions and what our full-service and self-service solution can provide.
Discover how Patra’s Policy Checking AI solution revolutionizes the insurance industry by automating and enhancing document-heavy workflows, data extraction, and data comparisons. Experience best-in-class automation technology combined with human expertise for maximum efficiency, data quality, and scalability, reducing tedious manual processes in the insurance industry.
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.
