Catalyit Team Review

Published: March 27, 2025

What We Like:

• Proprietary AI-Powered Solutions: Patra’s private-cloud suite of AI-powered solutions delivers Policy Checking AI, Quote Compare AI, and Policy Data Extract AI technologies offering intelligent, patent-pending automation designed to help insurance distributors enhance efficiency and accuracy in complex commercial insurance processes.

• Workstream Flexibility: Patra’s AI-powered solutions offer workstream flexibility tailored to the unique needs of your business. This can be delivered with their full-service AI-powered solutions, or their self-service AI-powered solutions.

Summary:
Patra is a leading provider of technology-enabled insurance outsourcing services and AI-powered software solutions. They optimize insurance workflows and processes by integrating skilled industry professionals with advanced technology, supporting agencies in selling, delivering, and managing policies through their PatraOne platform.

Patra offers a wide range of back and front office insurance processing services, including policy checking, data management, endorsement processing, contact center solutions, and virtual assistants catering to independent insurance agencies, brokers, wholesalers, MGAs, and MGUs.

Patra specializes in streamlining insurance operations through a blend of outsourcing services and AI-powered technologies. Their offerings aim to improve operational efficiency, reduce errors, and allow agencies to focus on growth and client relationships. With a strong emphasis on innovation, Patra serves a broad spectrum of insurance entities, including retail agencies, brokers, MGAs/MGUs, wholesalers, and carriers.

Key Features:

• Policy Checking AI: Automates the policy review process, ensuring accuracy and compliance.
• Quote Compare AI: Simplifies the comparison of insurance quotes, facilitating informed decision-making.
• Policy Data Extract AI: Efficiently extracts and structures data from policies for analysis and application.
• Patra OnDemand: 24-hour insurance processing services for employee benefit administration, property & casualty insurance processing, and business administration support.
• Patra Assist: Virtual assistant services provide back-office and client-facing support to enhance service delivery.
• Patra Direct: Contact center solutions provide integrated, omni-channel customer support through Patra’s national network of insurance professionals.

Key Feature Deeper Dive - Policy Checking AI:
Policy Checking AI stands out by automating the traditional manual process of policy verification on Policy, Accord App, Binder, Bind Order, Prior Policy, Proposal, and Quotes documents. It combines Patra’s proprietary patent-pending technology (AI/ML/NLP), best-in-class workflows, and a team of insurance experts. This AI-powered solution not only reduces the time required for policy checking but also minimizes human errors, ensuring that policies comply with regulatory standards and agency guidelines. By leveraging this AI-powered solution, agencies can reallocate resources to more strategic tasks, enhancing overall productivity.

AI Implementation Strategy:
No two agencies operate exactly alike, which is why flexibility in policy checking solutions is crucial. Patra’s Policy Checking AI offers customizable implementation options that adapt to every agency’s unique workflow and preference. This adaptability ensures that agencies can maintain control while leveraging powerful automation capabilities.

• Patra’s Policy Checking AI full-service offering delivers a dedicated processing team. Every policy reviewed is backed by Patra’s industry-leading E&O coverage.
• Patra’s Policy Checking AI self-service offering allows agencies to achieve faster, more accurate policy checking operations in-house.

Final Thoughts:
Efficiency, accuracy, and agility are paramount to success in today’s rapidly evolving insurance market. Growing policyholders demand faster service and seamless digital experiences. Patra’s integration of AI technology and comprehensive outsourcing services positions them as a valuable partner for insurance agencies.

* Unbiased review based upon information and insights available.