FORT LAUDERDALE, Fla.,
Aug. 23, 2016 /PRNewswire/
-- Patriot Technology Solutions, Inc. (PatTech), a subsidiary
of Patriot National, Inc. (NYSE: PN), today announced that New
Jersey Manufacturers Insurance Company (NJM), will implement
InsurePay, a pay-as-you-go billing tool, to help ease the payment
process for its workers' compensation customers.
NJM, founded in 1913, is the largest workers' compensation
insurance provider in New Jersey.
"We are pleased that another leading workers' compensation
carrier has recognized the value of InsurePay," said Jeff Harris Executive Vice President – Business
Development at Patriot National. "We applaud NJM, a
longstanding company that has been operating in the insurance
industry for over 100 years, for their vision to implement
leading-edge technology that both increases efficiency and goes
beyond what many carriers offer."
"NJM was founded over 100 years ago to provide policyholders
with cost effective, safety conscious and financially secure
workers' compensation insurance coverage. We continue that purpose
today, and also strive to help policyholders manage their workers'
compensation premium payments by providing multiple payment
options. InsurePay will drive value to our policyholders by
eliminating the estimation of traditional workers' compensation
premium plans and allowing them to better manage cash flow," said
MaryLou Mattera, Manager, Commercial
Business Process Improvement at NJM.
"As we anticipated, InsurePay is proving to be a major disruptor
in the workers' compensation marketplace," said Steven M. Mariano,
CEO of Patriot National. "We continue to capitalize on growth
opportunities as carriers recognize the competitive advantage our
technology solutions offer."
Through its secure, cloud-based SaaS platform, InsurePay enables
businesses to pay their premiums each pay period based on actual
payroll rather than generated estimates. This accurate and flexible
approach reduces operational costs for insurance carriers and
policyholders as well as benefitting agents with a competitive
product. Through real-time processing, policyholders can
reduce or eliminate large down payments and avoid year-end audit
discrepancies, and insurance carriers are able to eliminate
billing, collections and auditing costs.
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.
About Patriot Technology Solutions, Inc.
Patriot Technology Solutions (PatTech) is a leading provider of
technology solutions for the property and casualty insurance
industry. PatTech focuses on insurance solutions that spotlight a
full core insurance suite solution with implementation expertise
and including; professional and consulting services and enterprise
data analytics with a cloud-based SaaS model. PatTech delivers
solutions that provide carriers with premium growth, policyholder
retention while lowering their cost of acquisition and reducing
their overall servicing cost. Patriot Technology Solutions is
headquartered in Fort Lauderdale,
Florida with offices worldwide. For more information
about PatTech, please visit www.ptsglobal.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. For example, our
solutions 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.
Media and Investor Contact:
Cindy Campbell
Director of Investor Relations
Patriot National, Inc.
(954) 670-2907
CCampbell@patnat.com
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SOURCE Patriot National, Inc.