Millennial Shift and Patra Partner to Integrate AI-Driven Back-Office Services into Digital Insurance Platform
Millennial Shift Technologies (mShift) and Patra Corporation have announced a strategic partnership integrating Patra's OnDemand processing services into the mShift digital insurance distribution platform. This collaboration enables brokers and agents using the mShift Marketplace to outsource various back-office functions such as submission clearance, affidavit completion, AI-driven policy checking and stamping, and surplus lines filing without leaving the platform.
The integration enhances mShift's mFactor tool, which already supports streamlined quoting and binding with customizable forms and multiple bindable quotes. Patra complements this by providing comprehensive property and casualty back-office services including certificate issuance, claims processing, endorsement handling, policy verification through AI, compliance, commission posting, and accounting.
Patra’s AI-powered Policy Checking solution automates the capture, comparison, and validation of policy data, reducing manual review time and enhancing accuracy, which in turn helps agencies mitigate errors and omissions risks. The partnership aims to reduce operational bottlenecks by enabling agents and brokers to focus on client growth while maintaining compliance.
The integration offers a seamless user experience, automating submission and clearance requests directly within the mShift platform, with real-time status updates. Once policies are bound, Patra manages surplus lines filing and returns compliance-stamped documents to the marketplace, supporting efficient workflow and expedited policy issuance.
Founded in 2019 and headquartered in Phoenix, Arizona, mShift specializes in AI-driven digital trading platforms for insurance brokers, while Patra is a technology-enabled outsourcing and AI software provider supporting agencies, MGAs, wholesalers, and carriers globally. This collaboration reflects ongoing industry trends towards digital transformation, process automation, and integrated back-office solutions, which are significant for US insurance distribution channels and operational efficiency.