(Image from Travelers’ “No Worries” advertising campaign.)
Travelers (Hartford) has established a strategic relationship with Patriot National by expanding its existing business with the Fort Lauderdale, Fla.-based provider of technology and outsourcing solutions to the insurance industry. Under the new agreement, Patriot National will offer all lines of Travelers’ small business insurance in 15 states, with plans for national expansion.
Through the relationship Patriot National’s independent retail agency distribution network will also help to expand the TravPay pay-as-you-go workers’ compensation solution, powered by Patriot National’s InsurePay engine. TravPay allows employers to calculate and pay their workers’ compensation premiums by connecting directly to approved payroll providers, reducing the inefficient and costly guesswork of estimated annual payrolls. TravPay also offers what Patriot National describes as a user friendly self-reporting option for insureds that process their payrolls internally.
“This is a significant opportunity for Patriot National,” comments Steven M. Mariano, CEO, Patriot National. “Our independent agency distribution network plays a key role in our success and we are looking forward to working with Travelers. We are also excited about the growth prospects to generate premiums for the complete portfolio of insurance offerings, building a strong foundation to drive additional revenue for our company. We believe this will also be a highly attractive value proposition to our agents and policyholders.”
(Editor’s note: this story was modified on Feb. 18 to add specifics of the existing relationship between the two firms.)