Insurtech
Web Application
Patra Corporation is a US-based company, initially founded to enable insurance brokers to issue certificates faster and more efficiently. With time, it has expanded to serve retail agencies (including commercial lines, personal lines, and employee benefits), MGAs, wholesalers, and carriers, with more than 160 distinct services.
The company powers insurance processing by leveraging people & technology, supporting insurance organizations as they sell, and delivering & managing policies and customers.
In addition to process automation and account management services, Patra is a leader in applying technology to insurance applications.
The company was looking for a development partner to integrate its platform with some of the top insurance providers in the USA (BTIS, USLI, HISCOX, Liberty) and provide the best insurance premium quotes to their end users.
After finalizing the project scope, we had extensive discussions with the integration teams of different insurance companies to understand their APIs, data formats, authorization processes, and underwriting questions to be asked by the customers.
Using this information, we developed the following solution:
A configuration-based API integration module was designed
All the required authorization mechanisms were added to the integration module
XML was used to transport data in different formats
Underwriting questions were managed in a database
Integration of insurance companies' APIs enabled Patra to attract customers to its platform, opening up a new revenue stream for Patra in the form of insurance sales leads.
The customers gained freedom from hopping from one insurance company site to another, seeking the best quote for their insurance needs. Furthermore, our client got the integration done without incurring the huge cost of in-house development.
For us, one more happy client was added to the list with repeat business.
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