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Press Release

Patriot Technology Solutions Implements InsurePay Pay-as-You-Go Billing Tool

Company Release - 8/3/2017 6:45 AM ET

FORT LAUDERDALE, Fla., Aug. 03, 2017 (GLOBE NEWSWIRE) -- Patriot Technology Solutions, LLC. (“Patriot Technology”), a subsidiary of Patriot National, Inc. (NYSE:PN), today announced that two new carriers, including Baldwin & Lyons, Inc., on behalf of its subsidiaries under the brand Protective Insurance, a leading marketer and insurance underwriter for the transportation industry, plus another large property and casualty insurer in the U.S., have selected its InsurePay pay-as-you-go “billing as a service” to help ease the payment process for its Workers’ Compensation policyholders.  The additions bring the total to 20 carriers who have adopted the tool to date.

“We are very pleased to have Protective Insurance join our growing list of highly regarded national carriers that recognize the value of InsurePay,” said Judith Haddad, President and CEO of Patriot Technology. “InsurePay’s growing success with top carriers is an example of how we are leveraging our state of the art platform and driving growth for the technology organization.”

Through its secure, cloud-based SaaS platform, InsurePay enables policyholders to pay their premiums each pay period based on actual payroll rather than estimated payroll. This accurate and flexible approach reduces operational costs for insurance carriers and policyholders, as well as benefitting agents with a competitive product. Through real-time processing, policyholders can reduce or eliminate large down payments and avoid year-end audit discrepancies, and insurance carriers are able to eliminate billing collections and auditing costs.

“Patriot Technology’s InsurePay platform has been received well by our distribution partners, policyholders and underwriting staff, and it has rounded out our Workers’ Compensation product offering with a highly automated and tightly integrated solution,” said Brian D. Gray, Senior Vice President and CIO of Baldwin & Lyons, Inc.  “We evaluated several pay-as-you-go service providers, but Patriot Technology’s system, and more importantly Judith’s team, were the clear choice as one of our strategic partners.”

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, and self-funded health plans 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 Patriot Technology Solutions, LLC.
Patriot Technology Solutions (“Patriot Technology”) is a leading provider of technology solutions for the property and casualty insurance industry. Patriot Technology focuses on insurance solutions that spotlight a full core insurance suite solution with implementation expertise and including; professional and consulting services and enterprise data analytics with a cloud-based SaaS model. Patriot Technology delivers solutions that provide carriers with premium growth, 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 Patriot Technology, please visit www.ptsglobal.com.

About Baldwin & Lyons, Inc.
Founded in 1930, Baldwin & Lyons, Inc. is a holding company for specialty property and casualty insurance subsidiaries. Through its subsidiaries, the company provides liability coverage for large and medium-sized trucking and public transportation fleets, as well as coverages for trucking industry independent contractors. In addition, the company offers coverage for small fleet trucking along with workers’ compensation for small business and casualty reinsurance. Baldwin & Lyons is headquartered in Carmel, Indiana.

About Protective Insurance
Protective Insurance is the marketing name used to refer to Protective Insurance Company and its subsidiaries and affiliates that provide insurance and related services, including Sagamore Insurance Company and Protective Specialty Insurance Company. For additional information, please visit our website at www.protectiveinsurance.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