.webp)
Patra upgraded its AI to automate most commercial insurance tasks, reducing errors, saving time, and offering affordable subscriptions for agencies.
Patra, a provider of AI-powered software and technology-based insurance outsourcing services, has expanded its Patra AI platform to handle up to 85% of commercial insurance policy volume, showing the importance of automation in the insurance industry. According to FF News, the update includes four main improvements: innovative Commercial Package Policies (CPP) support, better AI model performance, flexible monthly subscription pricing, and new operational reporting tools.
Patra AI is designed to automate insurance activities that require a lot of documents, like policy data extraction, price comparison, and policy checking. Usually, these jobs are time-consuming, vulnerable to mistakes and done by hand. The platform offers excellent accuracy while significantly reducing processing time by combining modern AI models with current workflow automation. Human-in-the-loop validation supports automated outputs, allowing results to be examined and accepted in a matter of minutes.
The platform's greater ability to handle Commercial Package Policies, which are some of the most complex insurance forms, is an important improvement. CPPs often combine several coverages into a single, unstructured PDF that may contain hundreds of pages. Commercial property, general liability, commercial auto, workers' compensation, and commercial umbrella are just a few of the five business lines that Patra AI can now accurately gather and analyze data from within a single policy. The platform now handles 12 main commercial lines of business in addition to CPPs, providing agencies with a single automated solution for the majority of their commercial insurance requirements.
Patra has launched SaaS subscription levels that start at $99 per month to ease uptake for organizations of all sizes. Unlimited user seats and a 14-day free trial are included in the plans. In addition, the business offers a complete service option that combines execution by international delivery teams with its AI platform. With this platform, Patra expects a future in which advanced insurance processes are simplified, flexible, and increasingly powered by intelligent, autonomous systems as automation continues to advance.
.webp)
.webp)
