Patra Corporation: Innovating Insurance Vertical with Advanced Technology and People

Technology is evolving faster than the beam of light and deploying it will help increase the work pace, a lot faster. William Wagner is the VP of Marketing in Patra Corporation who believes in technology innovation’s power and how it acts as a strong link between People and Processing. He adds, “As a marketer, I am always looking to bridge that gap between what technology is being built or how innovation is advancing and relating that story to business owners so they can understand at the most basic level, why leveraging technology can be a strategic advantage.”

He is a firm believer of “failure is not failure; it is a building block to gaining enriching experiences.” Thus, making mistakes is part and parcel of the success journey. He adds, “Even today, sometimes a single phrase or word may strike the right chord, but three months ago, the same word or phrase may have been unsettling. Its constant trial and error.”

Innovative Services of Patra Corporation

Patra Corporation is a unique company that helps uplift Brokers, Wholesalers, MGAs, Carriers, and other insurance businesses to optimize operations with the Patra service teams’ help. Being a technology-enabled services company, this firm works at the intersection of technology and people. This means that their clients can completely rely on them for the best operations and continue their focus on revenue generation.

Mainly, Patra helps impart operational freedom and lets clients grow and maintain their relationships with little stress. The entire operational staff at Patra are insurance experts who always strive for client satisfaction.

With over 3,600 employees worldwide, Patra leverages its advanced technology innovations using Artificial Intelligence, Cloud-Based technology all through its core PatraOne Platform. This ensures that Patra is secure in its global footprint. The best part is that they are continuously working to develop beneficial digital solutions that make their work faster and smarter such as Premium Financing and Payments called PatraPay or even Digital Certification delivery through their CertVault service.

He adds, “We have also evolved our services model to support P&C and Employee Benefit and done so by growing our global organization to support eight Processing Centers of Excellence and three technology Development centers in addition to  over 250 licensed agents for all 50 states.”

Staying Ahead in Competition

William likens Patra to a  “long highway with off-raps and on-ramps” where technology blends with people for a perfect operational workflow.

He further adds, “We see challenges in multiple areas of our business, and as a leadership team, we are very serious about listening to our clients, listening to leaders in insurance, and looking beyond Insurance to see where technology and innovation are pushing the envelope in terms of driving a high customer satisfaction and delivering meaningful services.”  There are a plethora of teams in Patra, such as Data and Analytics, Product Management, Technology, and Innovation and large US and International Operations teams to share new ideas and face all challenges boldly.

William’s Contribution to Company’s Growth

William understands that customer satisfaction and retention are the key factors that drive growth. He shares, “We believe that both can be accomplished but to do so requires companies to think outside their comfort zone and start their creative thinking on the edge of that comfort zone.”

In Patra, his innovative thought leadership is the core of work and it helps all employees bring their best in their work. He shares, “My contribution is really in line with the other executives that proceed me in that we have a shared value system of being open to new ideas and having a philosophy where anyone, at any level, can come to us with amazing ideas.”

Wearing the hat of VP of Marketing of Patra Corp

To mark their presence in the market and steer the corporation to the top position, oversees and guides the marketing team. He expresses that the knowledge, skills, and experience to lead the current team comes from his past career.

He states, “I was fortunate enough to have had some wonderful managers and mentors who have allowed me to grow, learn, and fail across many industry verticals. From Investment Advisory software to Litigation Software, Traditional Banking to FinTech, and onward to Insurance, each of these opportunities has broadened my understanding of management, technology, and marketing. From there, I have been able to grow companies from start-up to acquisition, build teams across the globe, and make some incredible friends across the technology spectrum and learn from some of the best leaders across industries.”

He keeps his efforts focused on the corporation’s core vision by constantly educating their prospects, clients, and industry leaders towards the roadmap and how the corporation is the right service partner for their needs.

He expresses, “I feel a great sense of pride when I hear our name in a positive light, when prospects say, “Oh yea, we’ve heard great things about Patra,” or we win industry awards. Those are the achievements I appreciate, but like everything in life, we try not to focus too much on the past – my team and the company as a whole – is always looking forward, onward towards how we can lead our customers on their journey in insurance.”

He emphasizes that Patra corporation is a true believer in doing right for the customer. Even before the COVID pandemic lockdowns, the company supported work from the home structure and excelled at everything. Everyone shares their point of view and aims to grow together as a team.

He states, “It is that open “Zoom Chat” philosophy where we encourage everyone to submit ideas for innovation, we constantly ask, “Is this right? If not, let us get it right.”  Feedback is a gift, and for us to constantly evolve, we ask that everyone respect each other and welcome feedback.”

Future prospects for the company

In the coming years, the company is moving forward with its expansion plans in North America. To be present for their clients everywhere, anytime they are looking to expand on their “Hub & Spoke” services model.

William states, “We are expanding internationally but doing so with an eye towards being flexible toward our client’s needs. If the pandemic has taught us anything, it’s to be flexible.  There are still many companies in North America with who we should be partnering, so that is our focus over the next few years. Still, we constantly monitor the global market – should we wish to pursue other countries, we will have the infrastructure, team, and technology to expand.”