News Column

CORRECTION - Vikaran Solutions Congratulates Patriot National Inc.

August 21, 2014

CHICAGO, IL -- (Marketwired) -- 08/21/14 -- In the news release "Vikaran Solutions Congratulates Patriot National Inc.," issued August 19, 2014 by Vikaran Solutions, please be advised that the boilerplate paragraph for Patriot National Inc. was misworded. Complete corrected text follows.

Vikaran Solutions Congratulates Patriot National Inc.

Novarica Impact Award Win Recognizes Successful Legacy Replacement and Use of Modern Technology for Productivity, Efficiency and Operational Gains

CHICAGO, IL -- August 19, 2014 -- Vikaran Solutions (Vikaran) is pleased to be able to congratulate Patriot National Inc. (Patriot National) as one of this year's Novarica Impact Award winners as announced in a ceremony held in New York City on August 13.

"We congratulate Patriot National on its win in the 2014 Impact Awards," said Matthew Josefowicz, managing director for Novarica. "Their transformation initiative was ambitious and well-executed. As they note in their case study, a critical success factor was the partnership with their solution provider, Vikaran."

The 2014 Novarica Impact Award nominees, including Patriot National, were selected by a panel of CIO members of the Novarica Research Council from companies including AFLAC, Allstate Financial, Aon Affinity, Capitol Insurance, Cincinnati Insurance, Great American Insurance Company, New York Life Investment Management, PURE Insurance, and Utica National. Winners were selected by a vote of more than 70 insurer CIO members.

This recognition comes on the heels of a successful end-to-end legacy replacement project for Patriot National, during which the company selected and implemented Vikaran's WorkersCompExpert®, a core administration suite designed specifically to fit the unique needs of this important line of business.

"We are extremely pleased to be a recipient of the Novarica Impact Award in the Transformation category," said Judith Haddad, EVP and CIO for Patriot National. "The legacy systems replacement project implementation is a tribute to the hard work and effort of Patriot and Vikaran team members. Leveraging this new 'state of the art' insurance platform is certainly a key differentiator for Patriot National in the industry. Our vendor partnership with Vikaran has been one of the keys to our success."

In 2013, completing a successful implementation of the Vikaran WorkersCompExpert software suite, Patriot National converted all the company's existing workers' compensation business for all 50 states onto the new platform. While data inconsistencies and inadequacies inherent to the old system made the conversion process difficult, Patriot National stringently managed the process by establishing a dedicated project management office (PMO) which monitored project scope, goals and deliverables.

"We congratulate Patriot National on this prestigious industry award. We are delighted that Patriot National was selected for this honor," said Sandeep Mehta, CEO of Vikaran. "The leadership at Patriot National is highly exceptional and this industry recognition is very well deserved. The award is a testament to the amazing teamwork and collaboration between the Patriot and Vikaran teams."

Vikaran's WorkersCompExpert is a web-based, fully-integrated core administration suite that extends the capabilities of any workers' compensation insurer, managing general agency (MGA), managing general underwriter (MGU), third-party administrators (TPA) or self-insured employer, remodels critical workflows and enables instant scalability. The suite includes PolicyExpert, BillingExpert, ClaimsExpert, ReinsuranceExpert, and QuoteExpert (Agency Portal), plus customer portal and business partner portal modules as well. The implementation of Vikaran's WorkersCompExpert and subsequent modernization of Patriot National's workflows has already resulted in a higher level of efficiency, increased speed-to-market, productivity gains and an enhanced ability to utilize new mobile capabilities.

For more information about this release, please contact Ash Perti of Vikaran Solutions at (630) 512-8800 Ext 243 or ash.perti@vikaransolutions.com.

About Vikaran Solutions LLC (Vikaran)

Vikaran Solutions is an insurance industry solution provider with a specialized focus in workers compensation and other property & casualty lines of insurance. The company is headquartered in Lisle, Illinois and operates a state-of-the-art software development center in Pune, India. For additional information please visit www.vikaransolutions.com, or contact Ash Perti at 630.512.8800 Ext. 243.

About Patriot National Inc. (Patriot National)

Patriot National, Inc. is an insurance service holding company founded by Fort Lauderdale-based entrepreneur Steven Michael Mariano. Patriot National, Inc. is a national provider of workers' compensation insurance and managed care services. For more information, please visit the company website at www.pnigroup.com.

About Novarica

Novarica provides information, insights, and perspectives on markets, operations, and technology to financial services and insurance executives. The company delivers its service through published research, retained advisory services, and project-based consulting. Novarica draws its knowledge from the personal experience of its principals, the ongoing information gathering initiatives of dedicated research staff, and regular communication with insurer executives through informal networks and through the Novarica Insurance Technology Research Council, a moderated knowledge-sharing community of more than 325 senior IT executives representing more than 300 North American insurers. For more information about Novarica or the Novarica Impact Awards, please visit the company's website at www.novarica.com/impact2014/.

Media Contact: Jennifer OverhulseSt. Nick Media Services 859.803.6597 jen@stnickmedia.com



Source: Vikaran Solutions


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