BERWYN, Pa., Sept. 06, 2022 (GLOBE NEWSWIRE) — Positive Physicians Insurance Company, (“Positive”), a leading professional liability insurer serving healthcare providers in 10 states, and Preverity, Inc. , the nation’s preeminent analytics tool specializing in improving risk prediction for medical malpractice insurers and healthcare systems, today announced a partnership that will see Positive implement Preverity’s Enterprise product to significantly improve its underwriting capabilities, pricing and operational efficiencies.
“Preverity is a forward-thinking technology company that is transforming the MPL industry with its risk prediction platform and advanced data analytics. These tools will improve our understanding of physician practices, improve underwriting integrity, risk management and claims handling capabilities, all of which translate to better business decisions,” said Michael Roque, CEO of Positive. “They provide us with the complete package – an innovative product, an expert healthcare team healthy and customer-focused, and the vision to help us transform the business. The partnership will allow Positive to focus on risk selection and assessment, pricing integrity and improving underwriting efficiency, while responsibly developing and attracting top talent.”
“We are thrilled to partner with Positive to help them transform their business through the effective use of proven actuarial analytics tools,” said Gene Boerger, COO of Preverity.
Founded in 2002, Positive, based in Berwyn, Pennsylvania, provides medical malpractice insurance coverage to physicians, medical personnel and medical groups. “We have strong profitability and growth initiatives and our partnership with Preverity will help us achieve these goals, while providing us with industry-leading tools to better manage risk,” Roque said.
Nashville-based Preverity was founded in 2016 and serves many of the leading medical malpractice insurance companies as well as health systems. The company has built an unparalleled database covering over 80% of US physicians, including a complete medical billing history, over 80 billion provider transactions, education and disciplinary actions, providing its customers with unparalleled insight. Building on this database, Preverity data scientists built comprehensive models to identify risk mitigation and pricing opportunities.
About Positive Physicians Insurance Company
Positive Physicians Insurance Company, a Pennsylvania-based insurance company, is a wholly owned subsidiary of Positive Physicians Holdings, Inc. The company underwrites medical malpractice coverage for physicians, their companies, medical groups, clinics and related healthcare providers. Medical professional liability insurance protects physicians and other health care providers against liability arising from the provision or inability to provide professional medical services. Positive Physicians Insurance Company offers claims-based coverage, claims-plus, event-based policies as well as comprehensive coverage in Pennsylvania, New Jersey, Ohio, Delaware, Maryland, South Carolina, Michigan, Florida, Texas and Georgia. For more information, please visit www.positivephysicians.com.
Preverity, Inc. is an InsurTech analytics company focused on automation and advanced underwriting for the medical malpractice insurance and healthcare systems industries. Preverity automates risk assessment, fare class placement, application completion, renewal automation, portfolio monitoring and targeted marketing to streamline processes and automate underwriting. For more information, please visit www.preverity.com.
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