FORT LAUDERDALE, Fla., Jan. 6, 2016 /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' compensation insurance, has signed definitive agreements to implement PatTech's SaaS insurance value chain software suite to replace and modernize its current technology systems.
PatTech's SaaS insurance value chain software suite includes 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. Implementation of the new system is expected to begin in February 2016 and the agreement will extend for a minimum of five years.
MEM CEO Jim Owen said, "Modernizing our current technology with PatTech's InsuranceExpert solution should provide us and our partners with industry leading functionality in a truly integrated platform. PatTech's solution will give us the tools we need to help save lives through safe workplaces, which is MEM's ultimate goal."
"We are pleased that MEM has chosen our industry leading technology solutions that will help drive efficiency and reduce servicing costs while at the same time help MEM deliver the exceptional customer service for which they are known," said Steven M. Mariano, CEO of Patriot National.
"We take pride in delivering innovative, market-driven and cost-effective technology solutions to the property & casualty market," said Judith Haddad, President of PatTech. "Our web-based user interface was designed specifically for insurance professionals and leverages the latest trends in usability, visual design, and human factors engineering."
"We look forward to working with MEM to streamline, standardize, and efficiently manage their day-to-day activities," 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 Technology Solutions, Inc.
Patriot Technology Solutions (PatTech), a wholly-owned subsidiary of Patriot National, is a leading provider of technology solutions for the property and casualty insurance industry. PatTech delivers a full core insurance suite solution with implementation expertise, combining professional consulting services and enterprise data analytics with a cloud-based SaaS model. PatTech delivers solutions that provide carriers with premium growth, and 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.
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. 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: Julie MacMedan (310) 622-8242 Paige Hart (310) 622-8244 Financial Profiles, Inc. PatriotNational@finprofiles.com
SOURCE Patriot National, Inc.