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Patra and MarshBerry Announce Joint Marketing Alliance

April 11, 2019

EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Apr 11, 2019--Patra, a leader in insurance processing and technology, and MarshBerry, one of the market’s leading strategic consulting and advisory firms for the insurance distribution space, have announced a joint marketing alliance through MarshBerry’s Connect Platform, following MarshBerry’s invitation for Patra to join the program as the exclusive insurance BPO provider for the network. As a result of the alliance, MarshBerry will formally promote and endorse Patra’s broad line of insurance process services to MarshBerry’s 130+ Connect members. In exchange, Patra will provide exclusive benefits and preferred pricing to members. The alliance brings members access to a wide range of insurance business processes, backed by industry-leading technology, service and knowledge.

“MarshBerry has intentionally created a new category of business relationship amongst our members and trading partners, believing in the emerging new ecosystem of insurance distribution. It is highly unlikely any one firm or carrier can transform it alone,” said David Soforenko, Executive Vice President at MarshBerry. “If agencies or brokerages truly want to drive change locally, regionally, even globally, a Broker Transformation Platform like ours offers the means and thought leadership to effectuate this objective,” he continued.

The addition of Patra’s partnership further bolsters MarshBerry’s Connect peer exchange network, where member brokers work as peers to pool their experience, industry knowledge and data in order to streamline and maximize the growth of their businesses. The resources and services that Patra provides are aligned seamlessly with the goal of MarshBerry Connect, which is to provide firms with the tools to grow and scale efficiently. The partnership with MarshBerry creates additional access for members through a preferred pricing model, to help them more easily take advantage of Patra’s expertise.

In addition to these commercial benefits, MarshBerry Connect members will have the opportunity to learn and benefit from Patra’s industry knowledge in various ways. Patra will be present and be involved at MarshBerry Connect events including presenting educational content and participating in collaborative spaces. Patra will also host a MarshBerry University webinar, exclusive to membership, to share additional content.

“It’s a privilege to join the MarshBerry Connect Network as the exclusive insurance BPO provider, and to receive a strong endorsement from such a knowledgeable and respected organization,” said Patra CEO John Simpson. “We look forward to leveraging Patra’s technology, expertise and industry-leading service to provide this elite network of members with the tools and bandwidth for continued growth.”

“The launch of MarshBerry’s Connect Platform has been over a year in the making. We’ve created an opportunity for our membership to take action on growth, partner with like-minded firms, like Patra, and seize market opportunities now – not tomorrow,” said John Wepler, Chairman and CEO of MarshBerry.

The top quartile of firms in the MarshBerry Connect membership achieved 15.2 percent organic growth vs. 1.7 percent achieved by non-member firms through 2017.

About Patra

Patra powers insurance processing by leveraging people and technology, supporting insurance organizations as they sell, deliver and manage policies and customers. Patra’s team of global experts allow brokers, MGAs, wholesalers and carriers to capture the Patra Advantage – profitable growth and organizational value. This is accomplished through the deployment of Patra’s proprietary Insurance Process Delivery System – an integrated portfolio of outsourced services, insurance specific workflows and technology. Learn more at patracorp.com.

About MarshBerry

Founded in 1981, MarshBerry’s primary objective is to help insurance agents, national brokers, specialty distributors, private equity firms, banks & credit unions and insurance carries as they work to maximize their value through our industry-specific services that include: Merger & Acquisition Advisory, Financial Consulting, Talent Acquisition, Sales Performance, Intellectual Capital and Connect – our Peer Exchange Network. Learn more www.MarshBerry.com. Securities offered though MarshBerry Capital, Inc., Member FINRA and SIPC, and an affiliate of Marsh, Berry & Co., Inc. 28601 Chagrin Blvd., Suite 400, Woodmere OH 44122, 440-354-3230.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190411005918/en/

CONTACT: Aaron Samson

(916) 251-1293

asamson@prosiopr.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET PROFESSIONAL SERVICES INSURANCE COMMUNICATIONS MARKETING PUBLIC RELATIONS/INVESTOR RELATIONS

SOURCE: Patra

Copyright Business Wire 2019.

PUB: 04/11/2019 06:45 PM/DISC: 04/11/2019 06:45 PM

http://www.businesswire.com/news/home/20190411005918/en