Patriot Technology Solutions Selected by Missouri Employers Mutual
FORT LAUDERDALE, Fla., Oct. 8, 2015 /PRNewswire/ — Patriot Technology Solutions, Inc. (PatTech), a subsidiary of Patriot National, Inc. (NYSE: PN), today announced that Missouri Employers Mutual (MEM), Missouri’s largest provider of workers’ compensations insurance, has chosen PatTech’s flagship platform, InsuranceExpert (IE), to replace and modernize its current technology systems.
Subject to final approval of definitive agreements, MEM plans to implement Patriot’s entire SaaS insurance value chain software suite, including: QuoteExpert, PolicyExpert, BillingExpert, ClaimsExpert, ReinsuranceExpert, Agency Portal, Customer/Policyholder Portal, Claimant Portal, Business Partner Portal, DecisionUR utilization review and InsurePay pay-as-you-go modules.
“We are proud to partner with MEM on this important technology initiative that replaces their current system and implements our entire value chain software suite, which is vital to customer service and cost containment in today’s competitive environment,” said Steven M. Mariano, CEO of Patriot National. “MEM is ranked among the best in the industry for its exceptional customer service and timely, personalized claims management, and their selection of IE underscores their commitment to adopt leading-edge technology to maximize policyholder value.”
“InsuranceExpert offers MEM and our policyholders, agents and other business partners a high level of efficiency, productivity and collaboration. We examined many potential solutions and found that this platform demonstrated the strongest work comp functionality with a highly configurable, truly integrated suite and single source of data across the platform. This will better position our company for even greater growth and help us bring safety to our policyholders,” said Jim Owen, MEM CEO.
“This is an important step in the commercialization of our industry leading, SaaS-based, fully integrated insurance value chain management platform. IE’s innovative architecture creates an unmatched value proposition through its overall ease of use and ability to rapidly implement changes that improve productivity at a lower initial investment and ongoing operating costs. We expect to capitalize on the large opportunity in the marketplace as other carriers take note of these value drivers,” said Sandeep Mehta, CTO of PatTech.
About Missouri Employers Mutual
MEM is a safety company that provides workers’ compensation insurance. MEM helps policyholders eliminate injuries and reduce claims costs to protect people and their bottom lines. Headquartered in Columbia, Mo., with offices in Springfield, Kansas City and St. Louis, MEM is dedicated to providing policyholders with exceptional customer service, quality loss prevention expertise and timely, personal claims management. For more information on MEM—Missouri’s No. 1 provider of workers’ compensation insurance—visit www.mem-ins.com.
About Patriot National
Patriot National, Inc. is a national provider of comprehensive technology and outsourcing solutions that help insurance companies and employers mitigate risk, comply with complex regulations and save time and money. Patriot National provides general agency services, technology outsourcing, software solutions, specialty underwriting and policyholder services, claims administration services, self-funded health plans and employment pre-screening services to its insurance carrier clients, employers and other clients. Patriot National is headquartered in Fort Lauderdale, Florida. For more information about Patriot National, please visit www.patnat.com.
Forward Looking Statements
This press release may include statements that may be deemed to be forward-looking statements. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “Guidance,” and similar expressions are used to identify these forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties, and there are important factors that could cause actual results to differ materially from those indicated in these statements, including the potential that revenue, net income or adjusted EBITDA could finally be determined to be below the range discussed in this press release. For example, we may not be able to place insurance policies for our clients, our expenses may be higher than we expect, we may have difficulty integrating new acquisitions, new acquisitions may not perform as anticipated, as well as those matters contained in our filings with the Securities and Exchange Commission. Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not guarantees of future performance or events and that results may differ materially from statements made in or suggested by the forward-looking statements contained in this press release. Any forward-looking statement that we may make in this press release speaks only as of the date of such statement, and we undertake no obligation to update any forward-looking statement or to publicly announce the results of any revision to any of those statements to reflect future events or developments.