Patriot Technology Solutions Implements InsurePay Pay-as-You-Go Billing Tool
August 03 2017 - 5:45AM
Patriot Technology Solutions, LLC. (“Patriot Technology”), a
subsidiary of Patriot National, Inc. (NYSE:PN), today announced
that two new carriers, including Baldwin & Lyons, Inc., on
behalf of its subsidiaries under the brand Protective Insurance, a
leading marketer and insurance underwriter for the transportation
industry, plus another large property and casualty insurer in the
U.S., have selected its InsurePay pay-as-you-go “billing as a
service” to help ease the payment process for its Workers’
Compensation policyholders. The additions bring the total to
20 carriers who have adopted the tool to date.
“We are very pleased to have Protective Insurance join our
growing list of highly regarded national carriers that recognize
the value of InsurePay,” said Judith Haddad, President and CEO of
Patriot Technology. “InsurePay’s growing success with top carriers
is an example of how we are leveraging our state of the art
platform and driving growth for the technology organization.”
Through its secure, cloud-based SaaS platform, InsurePay enables
policyholders to pay their premiums each pay period based on actual
payroll rather than estimated payroll. This accurate and flexible
approach reduces operational costs for insurance carriers and
policyholders, as well as benefitting agents with a competitive
product. Through real-time processing, policyholders can reduce or
eliminate large down payments and avoid year-end audit
discrepancies, and insurance carriers are able to eliminate billing
collections and auditing costs.
“Patriot Technology’s InsurePay platform has been received well
by our distribution partners, policyholders and underwriting staff,
and it has rounded out our Workers’ Compensation product offering
with a highly automated and tightly integrated solution,” said
Brian D. Gray, Senior Vice President and CIO of Baldwin &
Lyons, Inc. “We evaluated several pay-as-you-go service
providers, but Patriot Technology’s system, and more importantly
Judith’s team, were the clear choice as one of our strategic
partners.”
About Patriot NationalPatriot National, Inc. is
a national provider of comprehensive technology and outsourcing
solutions that help insurance companies and employers mitigate
risk, comply with complex regulations and save time and money.
Patriot National provides general agency services, technology
outsourcing, software solutions, specialty underwriting and
policyholder services, claims administration services, and
self-funded health plans to its insurance carrier clients,
employers and other clients. Patriot National is headquartered in
Fort Lauderdale, Florida. For more information about Patriot
National, please visit www.patnat.com.
About Patriot Technology Solutions, LLC.Patriot
Technology Solutions (“Patriot Technology”) is a leading provider
of technology solutions for the property and casualty insurance
industry. Patriot Technology focuses on insurance solutions that
spotlight a full core insurance suite solution with implementation
expertise and including; professional and consulting services and
enterprise data analytics with a cloud-based SaaS model. Patriot
Technology delivers solutions that provide carriers with premium
growth, policyholder retention while lowering their cost of
acquisition and reducing their overall servicing cost. Patriot
Technology Solutions is headquartered in Fort Lauderdale, Florida
with offices worldwide. For more information about Patriot
Technology, please visit www.ptsglobal.com.
About Baldwin & Lyons, Inc. Founded in
1930, Baldwin & Lyons, Inc. is a holding company for specialty
property and casualty insurance subsidiaries. Through its
subsidiaries, the company provides liability coverage for large and
medium-sized trucking and public transportation fleets, as well as
coverages for trucking industry independent contractors. In
addition, the company offers coverage for small fleet trucking
along with workers’ compensation for small business and casualty
reinsurance. Baldwin & Lyons is headquartered in Carmel,
Indiana.
About Protective InsuranceProtective Insurance
is the marketing name used to refer to Protective Insurance Company
and its subsidiaries and affiliates that provide insurance and
related services, including Sagamore Insurance Company and
Protective Specialty Insurance Company. For additional information,
please visit our website at www.protectiveinsurance.com.
Forward-Looking StatementsThis press release
may include statements that may be deemed to be forward-looking
statements. Words such as "may," "will," "should," "likely,"
"anticipates," "expects," "intends," "plans," "projects,"
"believes," "estimates," "positioned," "outlook," "Guidance," and
similar expressions are used to identify these forward-looking
statements. By their nature, forward-looking statements involve
risks and uncertainties, and there are important factors that could
cause actual results to differ materially from those indicated in
these statements. For example, our solutions may not perform as
anticipated, as well as those matters contained in our filings with
the Securities and Exchange Commission. Although we base these
forward-looking statements on assumptions that we believe are
reasonable when made, we caution you that forward-looking
statements are not guarantees of future performance or events and
that results may differ materially from statements made in or
suggested by the forward-looking statements contained in this press
release. Any forward-looking statement that we may make in this
press release speaks only as of the date of such statement, and we
undertake no obligation to update any forward-looking statement or
to publicly announce the results of any revision to any of those
statements to reflect future events or developments.
Media and Investor Contacts:
Cindy Campbell
Director of Investor Relations
Patriot National, Inc.
(954) 670-2907
CCampbell@patnat.com