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COMPUTER HARDWARE & SERVICES | IT Services / IT Solutions & Software Development
patracorp.com

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3

About Patra

Patra powers insurance processing by leveraging people and technology, supporting insurance organizations as they sell, deliver and manage policies and customers. The company's Insurance Process Delivery System is an integrated portfolio of outsourced services, insurance-specific workflows and technology.

Patra Headquarter Location

1107 Investment Blvd Suite 100

El Dorado Hills, California, 95762,

United States

415-884-8008

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Patra Web Traffic

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Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Patra Rank

Latest Patra News

RBI Likes Glide Paths, Not Crash Landings, Says Deputy Governor Michael Patra

Sep 16, 2021

As such, the RBI decided to operate through other segments of the financial markets. After a cumulative 250-basis-point cut, the repo rate was constrained by elevated inflation. Effectively, the RBI employed the corridor itself as an instrument of policy, running it in absorption mode and the operating target aligned with the lower bound of the corridor rather than in the middle. Michael Patra, Deputy Governor, RBI According to Patra, the suggestion of an asymmetric cut in the reverse repo rate had come from an external MPC member. He also signaled that the central bank would return to a normal policy corridor over time. "Currently, however, the need to revive and sustain growth on a durable basis and mitigate the impact of the pandemic while keeping inflation within the target going forward warrants monetary policy accommodation mirrored in ample liquidity flushed through the system and easy financial conditions," he added. VRRR Not A Signal Of Normalisation While the RBI has not taken any steps towards normalisation of policy yet, it started conducting variable reverse repo rate auctions, in order to manage the cost of liquidity. A large surplus of over Rs 9 lakh crore had pushed down short-term rates to below even the reverse repo rate of 3.35%, rendering monetary policy ineffective. Some market participants saw that as an early sign of normalisation. Patra countered this view. It is not, and I would emphasise this, it is not a signal either for withdrawal of liquidity or of lift-off of interest rates. Signals of the latter will be conveyed through the stance that is articulated by the MPC in its future resolutions. We don’t like tantrums; we like tepid and transparent transitions — glide paths rather than crash landings. He said the RBI would remain in surplus mode and the liquidity management framework will continue in absorption mode till credit flow from banks recovers. "This is the natural and the RBI-preferred manner in which surpluses in the liquidity adjustment facility can be reduced." On Growth And Inflation Commenting on growth and inflation, Patra said: The output gap — which measures the deviation of the level of GDP from its trend — is negative and wider than it was in 2019-20. The projection of GDP growth of 9.5% for the year as a whole appears to be on track. Inflationary pressures are largely driven by supply shocks. Although shocks of this type are typically transitory, the repetitive incidence of shocks is giving inflation a persistent character. Analysis of inflation dynamics indicates that the easing of headline inflation from current levels is likely to be grudging and uneven. Pass-through of imported price pressures to retail prices remains incomplete. Rising staff costs suggest that incipient wage pressures are building in the organized sector as workplaces fill up. While the MPC remains committed to the numerical target of 4 (+/-2)%, it is pragmatic to envisage a glide path towards that target, keeping in mind the inherent output costs of disinflation, Patra said. The envisaged glide path should take inflation down to 5.7% or lower in 2021-22, to below 5% in 2022-23 and closer to the target of 4% by 2023-24. The rebalancing of liquidity conditions will dovetail into this glide path... Michael Patra, Deputy Governor, RBI BloombergQuint

Patra Acquisitions

1 Acquisition

Patra acquired 1 company. Their latest acquisition was QBIS Insurance Solutions on October 03, 2018.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/3/2018

Series A

$3M

Acquired

1

Date

10/3/2018

Investment Stage

Series A

Companies

Valuation

Total Funding

$3M

Note

Acquired

Sources

1

Patra Partners & Customers

3 Partners and customers

Patra has 3 strategic partners and customers. Patra recently partnered with Assurex Global Reinsurance on May 5, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

5/27/2020

Partner

Assurex Global Reinsurance

United States

Patra and Assurex Global Announce Multi-Year Strategic Partnership.

`` We are thrilled to continue and expand our partnership with Assurex Global and help drive expertise across their brokerage group , '' says Bob Murphy , Chief Revenue Officer of Patra .

1

12/23/2019

Partner

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10

4/11/2019

Partner

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10

Date

5/27/2020

12/23/2019

4/11/2019

Type

Partner

Partner

Partner

Business Partner

Assurex Global Reinsurance

Country

United States

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News Snippet

Patra and Assurex Global Announce Multi-Year Strategic Partnership.

`` We are thrilled to continue and expand our partnership with Assurex Global and help drive expertise across their brokerage group , '' says Bob Murphy , Chief Revenue Officer of Patra .

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Sources

1

10

10

Patra Team

10 Team Members

Patra has 10 team members, including current Chief Executive Officer, John Simpson.

Name

Work History

Title

Status

John Simpson

Chief Executive Officer

Current

Simon Davis

Chief Financial Officer

Current

Matt Easterlin

Chief Operating Officer

Current

Leticia Treviño

Chief Operating Officer

Current

Sean Kennedy

Chief Security Officer

Current

Name

John Simpson

Simon Davis

Matt Easterlin

Leticia Treviño

Sean Kennedy

Work History

Title

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Chief Operating Officer

Chief Security Officer

Status

Current

Current

Current

Current

Current

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