News from the Wire

Patriot Technology offers InsurePay to New York State Insurance Fund

Tuesday, August 30, 2016 — 12:25:33 (EDT)

Fort Lauderdale, Fla., Aug. 29, 2016 -- Patriot Technology Solutions, Inc., a subsidiary of Patriot National, Inc. (NYSE: PN), today announced that New York State Insurance Fund (NYSIF), the largest workers' compensation insurance provider in New York State, has implemented InsurePay, a pay-as-you-go billing tool, to provide real-time payment processing for its workers' compensation customers.

"We are pleased that NYSIF, a longstanding workers' compensation provider for more than 100 years, has recognized the value of InsurePay, a solution that allows them to streamline the delivery of policyholder, payroll and premium data," said Jeff Harris Executive Vice President - Business Development at Patriot National. "NYSIF understands the importance of using best-in-class technology solutions to deliver value to their customers."

"Growing adoption of InsurePay by leading workers' compensation insurers is indicative of the competitive advantage that our technology solutions provide to carriers," said Steven M. Mariano, CEO of Patriot National. "We are using our market leadership to capitalize on growth opportunities and invest in cutting-edge technology solutions."

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 benefits 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.

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 .

About Patriot Technology Solutions, Inc.

Patriot Technology Solutions (PatTech) is a leading provider of technology solutions for the property and casualty insurance industry. PatTech focuses on insurance solutions that spotlight a full core insurance suite solution with implementation expertise and including; professional and consulting services and enterprise data analytics with a cloud-based SaaS model. PatTech delivers solutions that provide carriers with premium growth, policyholder retention while lowering their cost of acquisition and reducing their overall servicing cost. Patriot Technology Solutions is headquartered in Fort Lauderdale, Florida with offices worldwide. For more information about PatTech, please visit www.ptsglobal.com .

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Source: Company press release.