Insuranceciooutlook

Insurance Industry Leaders Including AmWINS Group, CRC Group, Heffernan, and Patra form Solution Development Alliance

Insurance CIO Outlook | Wednesday, October 28, 2020

EL DORADO HILLS, Calif. - Patra, a leading provider of technology-enabled solutions for the insurance industry, along with AmWINS Group, CRC Group, Heffernan Insurance Brokers, are among the leading companies that have formed InsurConneXtions Alliance, a strategic alliance that will prioritize, develop, and integrate specific technology solutions into critical insurance processes – for the purposes of driving processing efficiencies and industry standards.

The formation of InsurConneXtions represents leaders across insurance technology, brokerage, wholesale, and specialty insurance, and represent over $50 Billion in Insurance premiums.

With a multitude of decisions and rapid changes facing the insurance industry, collaboration and cooperation is required to accelerate the integration of technology into critical and high-volume processes. The charter members of the Alliance are well positioned to leverage their expertise, experience, and market position to accelerate the deployment of technology into a variety of insurance processes.

The alliance has unanimously selected to begin its collaboration by focusing on technology and efficiency improvements to policy checking. Policy checking is a high volume and comprehensive process that performs a critical validation for accuracy and integrity of policy issuance across carriers, wholesalers, and brokers. Beginning this month, alliance members will work together to drive the evolution of Patra's industry leading policy checking solution.

"The need for insurance leaders to collaborate on technology has never been more important and this InsurConneXtions will be an important and strategic contributor," said John Simpson, CEO and Founder of Patra. "With industry leading firms along with Patra's technology and full-service delivery capabilities, a collaborative approach will help ensure a more rapid delivery of tech-enabled solutions to help solve our common challenges."

"Speaking on behalf of the membership, we are excited to establish and participate in this important Alliance. As we have seen the successful digital transformation in other industries, the Insurance industry will need to rapidly adopt technology to drive efficiencies and economic value for our customers," says Neil Kessler of CRC. "The more technology we can integrate and embed within the services we provide, the better user experience we will bring to all stakeholders within the value-chain."

These companies form the charter members of InsurConneXtions. In addition to their initial focus on policy checking, they will begin prioritizing the next set of services on which they will collaborate, along with discussions on a potential expansion of the Alliance.

Weekly Brief

Read Also