Patriot National to Launch Insurance Industry's First Competitive Risk Management Online Marketplace

FORT LAUDERDALE, Fla., April 4, 2016 /PRNewswire/ -- Patriot Risk Consultants (PRC), a subsidiary of Patriot National, Inc. (NYSE: PN), today announced the upcoming launch of PN BidExpert, a first of its kind competitive online marketplace to connect underwriters and risk managers with loss control engineers. 

PN BidExpert seamlessly engages, matches and connects underwriters and risk managers with a large marketplace of certified and prescreened loss control engineers. Underwriters submit loss control survey requests to the online platform where a sophisticated algorithm matches jobs with available independent service providers. These providers are notified in real time via push notifications of all jobs they are qualified to complete. Once the winning bid has been selected and the engineer has completed a job, PRC reviews the loss control report for quality assurance.

"PN BidExpert is powered by Patriot Technology Solutions and exemplifies our commitment to invest in leading edge technology that optimizes service quality while simultaneously reducing time and expense for our clients," said Steven M. Mariano, CEO of Patriot National.

"Our marketplace will streamline insurance underwriters and risk managers' ability to quickly obtain quality loss control reports at the best market price while increasing visibility and access to job requests for loss control engineers. Within the PN BidExpert community, service quality will be rewarded by a rating system completed by all parties. We expect hundreds of qualified and screened engineers to be active at launch," added Mariano.

The PN BidExpert marketplace will offer participants complete transparency and control through an easy-to-use dashboard. Underwriters, brokers or risk managers can submit standard or customized assessment surveys to the platform and all reports are quality assured by engineering experts. Underwriting and risk management communities interested in scheduling a BidExpert demo should contact Armand Fernandez at [email protected].

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, self-funded health plans and employment pre-screening services 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.

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, the successful integration of this acquisition and our ability to cross-sell additional services to these carriers, 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.

Investor and Media Contacts:

Cindy Campbell
Director of Investor Relations
Patriot National, Inc.
(954) 670-2907
[email protected]

Julie MacMedan (310) 622-8242
Paige Hart (310) 622-8244
Financial Profiles, Inc.
[email protected]

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SOURCE Patriot National, Inc.

Related Links

http://www.patnat.com