May 22, 2018

New Jersey Manufacturers Insurance Co Adopts Patriot’s Pay-as-You-Go Billing Tool

Ft. Lauderdale, FL – Patriot Technology Solutions, Inc. (PatTech), a subsidiary of Patriot National, Inc. (NYSE: PN), recently announced that New Jersey Manufacturers Insurance Company (NJM), will implement InsurePay, a pay-as-you-go billing tool, to help ease the payment process for its workers’ compensation customers.

“We are pleased that another leading workers’ compensation carrier has recognized the value of InsurePay,” said Jeff Harris Executive Vice President – Business Development at Patriot National. “We applaud NJM, a longstanding company that has been operating in the insurance industry for over 100 years, for their vision to implement leading-edge technology that both increases efficiency and goes beyond what many carriers offer.”

“NJM was founded over 100 years ago to provide policyholders with cost effective, safety conscious and financially secure workers’ compensation insurance coverage. We continue that purpose today, and also strive to help policyholders manage their workers’ compensation premium payments by providing multiple payment options. InsurePay will drive value to our policyholders by eliminating the estimation of traditional workers’ compensation premium plans and allowing them to better manage cash flow,” said MaryLou Mattera, Manager, Commercial Business Process Improvement at NJM.

“As we anticipated, InsurePay is proving to be a major disruptor in the workers’ compensation marketplace,” said Steven M. Mariano, CEO of Patriot National. “We continue to capitalize on growth opportunities as carriers recognize the competitive advantage our technology solutions offer.”

Through its secure, cloud-based SaaS platform, InsurePay enables businesses to pay their premiums each pay period based on actual payroll rather than generated estimates. 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.

Source: Patriot National

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