Patra’s recent investments in new global operations have set the
foundation for its continued growth and a successful start to 2019. To
support the company’s scaled operations, Patra recently opened two new
processing centers, setting the stage for its increased production.
Further success for Patra, a leading provider of technology-enabled
business process solutions for the insurance industry, was highlighted
by increases in its number of transactions, such as certificate
processing and policy checking, and more efficient overall processing
times for clients.
Ongoing company progress is largely attributable to the two centers
opened in 2018: a new center in Vizag, India, Patra’s second office in
the city and its fourth in India, and a location in Manila, Philippines,
its first in the country. Patra’s processing centers in India, including
the new Vizag center, provide processing and transactional support while
the Manila location will help support direct customer contact and
service operations. These additions have allowed the company to fulfill
increased demand for its core services.
“Opening these two processing centers has been critical to our continued
success and ability to service our expanding customer base,” said Matt
Easterlin, COO of International Operations. “The new centers support our
commitment to bringing efficiencies to the insurance industry while
providing us with the resources and talent to continue meeting the
processing and service demands of our customers.”
The addition of the new global processing centers has been a success;
the company has established its initial team at the Philippines
location, and Patra’s India operations, which also include offices in
Raipur and Bangalore, grew by nearly 27 percent with the addition of the
new center in Vizag. The boost provided by the new centers has led to
processing times that are up to 23 percent more efficient. The India
centers are handling more than 10k transactions per day, and checked 90k
policies in Q1 alone, an increase in output of 45 percent from the prior
year, all incorporating SOC 2 verified third party security protocols.
The company, which has experienced rapid growth over the last few years,
has seen a sustained increase in its client base. It attributes those
increases to an exemplary customer retention rate, efforts to broaden
into new markets, including a recent expansion into the carrier market,
and growing its service offerings.
“Over the years, we’ve taken a comprehensive approach toward Patra’s
growth,” said Patra CEO John Simpson. “Instead of only looking to
increase the number of customers interested in our services, we’re
focused on increasing and improving the services we’re able to offer.
This will help us not only broaden our client base and ensure
longstanding relationships with current and future customers, but also
allow us to set the pace and direction in which the industry is moving.”
Patra now operates nine facilities and employs more than 3,000 people
worldwide. The company is committed to all its global employees and the
communities in which it operates; its global offices feature
best-in-category amenities, state-of-the-art technology, and close
proximity to a strong talent base. Patra is focused on job creation, and
expects to create an additional 1,500 new jobs globally over the next
Patra powers insurance processes by leveraging people and technology,
supporting insurance organizations as they sell, deliver and manage
policies and customers. Patra’s team of global experts allow brokers,
MGAs, wholesalers and carriers to capture the Patra Advantage –
profitable growth and organizational value. This is accomplished through
the deployment of Patra’s proprietary Insurance Process Delivery System
– an integrated portfolio of outsourced services, insurance specific
workflows and technology. Learn more at patracorp.com.