Patra Corp is a US-based company that was founded in 2005 to enable insurance agents and brokers to issue certificates faster and more efficiently.
In the last decade, much has changed. Patra still issues certificates for insurance agencies but also provides a variety of processing services to insurance organizations that reduce staff workload, minimize risk and lower costs while raising productivity, increasing capacity and ultimately boosting profitability. Services include Business Process Outsourcing (BPO), Agency Management System (AMS) Consulting, and Data Entry Support, as well as various policy, certificates, benefits, and claims services.
The primary objective of Patra on this endeavor was to integrate their platform with the insurance providers of USA such as BTIS, USLI, HISCOX, and Liberty so that the end users can get the best insurance premium quotes on their platform.
After finalizing the project scope, we had extensive discussions with the integration teams of different insurance companies to understand their APIs, data formats, authorization processes and underwriting questions to be asked from the customers. Using this information, we developed the following solution:
Integration of insurance companies' APIs enabled Patra to attract customers to its platform, opening up a new revenue stream for it in the form of insurance sales leads. The customers gained freedom from hopping from one insurance company site to another, seeking the best quote for their insurance needs.