FORT LAUDERDALE, Fla.,
Oct. 17, 2016 /PRNewswire/
-- Patriot National, Inc. (NYSE: PN), a leading provider of
technology and outsourcing solutions, today announced the award of
a long-term end-to-end business process outsourcing ("BPO") service
contract with Ashmere Insurance Company ("Ashmere").
As part of the long-term turnkey BPO service contract, Patriot
National will write and serve as program administrator for
Ashmere's specialty property and casualty insurance policies with
defined underwriting, claims settlement, loss control and premium
audit authority for accounts in 36 states.
"We are excited about our long-term contract with Ashmere to
provide Patriot's full suite of end-to-end services. Over the next
36 months, we expect the contract to generate over $100 million in written premium to be serviced by
Patriot. Continued adoption of our innovative solutions is a clear
indication of the value we are delivering to our carrier partners,"
said Steve M. Mariano, Chief
Executive Officer of Patriot National.
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 Ashmere Insurance Company
Ashmere Insurance Company was recently acquired by National
Fidelity Holdings, Inc. Ashmere is licensed to offer all lines of
property and casualty insurance products in 36 states through a
network of 4,200 independent agents. For more information, please
visit www.ashmereins.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 Contacts:
Cindy Campbell
Director of Investor Relations
Patriot National, Inc.
(954) 670-2907
CCampbell@patnat.com
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SOURCE Patriot National, Inc.