Digital platform takes insurance processing into the future
Patra, a leading provider of technology-enabled solutions for the insurance industry, is announcing the general availability of CertVault. CertVault, an all-in-one digital platform, provides significant value for insurance agencies seeking to modernize their certificate process, providing a more flexible and efficient customer experience for brokers, certificate holders, and insureds.
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CertVault enables agencies to embrace a paperless delivery workflow with enterprise-class security, performance, and scalability. Agency adoption of CertVault dramatically reduces cost, up to 50% savings, and certificate processing complexities experienced with print and mail delivery.
Concluding a successful controlled availability phase, CertVault is now available for full scale operational deployment. As one of the largest certificate issuers in the industry, Patra gathered extensive customer feedback that has produced an efficient and user-friendly solution that allows brokers, holders, insureds and carriers to access and distribute certificates of insurance anywhere, anytime. Applying robotic data extraction and blockchain technology, agencies can leverage a turnkey platform that ensures accurate certificate data and secure certificate storage and delivery.
Additional advantages of CertVault include:
Reduction in cost and resources: Self-service functionality reduces dependency on agencies to manually process certificates, manages holder contact information, and eliminates the need for print and mail resources.
Accelerated delivery, digitized customer experience: 24/7 access, user alert notifications, delivery status confirmation, and intuitive navigation enhance customer satisfaction.
Better operational performance: Cloud-based platform transforms agencies into nimble, technology-enabled resources for their staff and customers, improving business continuity and efficiency.
With this general availability launch, Patra will continue its rollout of CertVault to existing customers and will integrate CertVault with Patra’s certificate management workflow for new customers. By the end of 2020 Patra expects to have over ½ million certificates in CertVault and another 3 to 4 million added in 2021.
“The deployment of CertVault comes at a pivotal time in the insurance industry where digital transformation is critical to adapting in today’s tech-driven landscape. We are excited to deliver a digital solution that improves efficiency and convenience for our clients and their customers,” said Bob Murphy, Chief Revenue Officer of Patra. “CertVault is a testament to our commitment to develop best-in-class insurance technology with our clients’ business needs top-of-mind.”
CertVault complements Patra’s full-service insurance technology solutions designed to position agencies with a competitive advantage and high performing operating model that drives scalability and increases both ROI and profitable growth.
