Insurtech Patra expands AI platform to automate 85% of commercial policies

Patra Enhances AI Platform for Commercial Insurance

Patra, a notable player in the insurtech space, has announced an upgrade to its artificial intelligence platform, aiming to automate up to 85% of commercial policy volume. This enhancement includes the addition of Commercial Package Policy (CPP) automation, new Software as a Service (SaaS) pricing models, and improved reporting features.

What’s New?

The core of this upgrade revolves around the automation capabilities for CPPs. By effectively managing these types of policies, Patra seeks to streamline processes and reduce the manual workload for agents and underwriters. The introduction of SaaS pricing may also make accessing these tools more flexible, accommodating the diverse needs of its users.

Who Will Benefit?

This enhancement stands to benefit insurance professionals who handle a large volume of commercial policies. By leveraging AI to handle routine tasks, agents can focus more on building relationships with clients and less on paperwork. This could potentially lead to increased efficiency and faster service delivery within the industry.

Looking Forward

With the insurance industry increasingly leaning on technology, Patra's updated platform is a step towards modernizing how commercial policies are processed and managed. Enhanced reporting features could provide deeper insights into policy performance, aiding agents and underwriters in making more informed decisions.

Overall, this move reflects a broader trend in the industry where automation and tech-driven solutions are becoming essential components of operational strategy.

Original Source: https://beinsure.com/news/patra-expands-ai-platform/