Positive Physicians Insurance Company and Preverity Announce Transformative Medical Malpractice Partnership
Firms Partner to Improve Risk Prediction, Drive Underwriting Efficiency for Positive's Business
BERWYN, Pa., September 6, 2022 (Newswire.com) - Positive Physicians Insurance Company, ("Positive"), a leading medical professional liability insurer serving healthcare providers across 10 states, and Preverity, Inc., the nation's preeminent analytics firm focused on improving risk prediction for medical malpractice insurance carriers and healthcare systems, today announced a partnership that will see Positive implement Preverity's Enterprise product to significantly enhance its underwriting, pricing and operational efficiency capabilities.
"Preverity is a forward-thinking technology company that is transforming the MPL industry with their risk prediction platform and advanced data analytics. These tools will enhance our understanding of physician practices, improve underwriting integrity, risk management and claims handling capabilities, all of which translate to making better business decisions," said Positive CEO Michael Roque. "They provide the total package for us - an innovative product, a healthcare-savvy and customer-focused team, and the vision to help us transform the business. The partnership will allow Positive to focus on risk selection and evaluation, pricing integrity and improving underwriting efficiencies, all while growing responsibly and attracting top talent."
"We are excited to partner with Positive to help them transform their business through the effective use of actuarially-proven analytics tools," said Preverity Chief Operating Officer Gene Boerger.
Founded in 2002, Berwyn, PA-based Positive provides medical malpractice insurance coverage for physicians, medical staff and medical groups. "We have strong profitability and growth initiatives and our partnership with Preverity will help us achieve those objectives, while providing us market-leading tools to better manage risk," Roque said.
Nashville-based Preverity was founded in 2016 and serves several of the leading medical malpractice insurance carriers as well as health systems. The company has built an unrivaled database covering over 80 percent of U.S. physicians, comprised of comprehensive medical billing history, over 80 billion provider transactions, education, and disciplinary actions, providing its clients unrivaled insights. Leveraging this database, Preverity's data scientists have built comprehensive models to identify risk mitigation and pricing opportunities.
About Positive Physicians Insurance Company
Positive Physicians Insurance Company, a Pennsylvania-domiciled insurance company, is a wholly owned subsidiary of Positive Physicians Holdings, Inc. The Company underwrites medical professional liability coverage for physicians, their corporations, medical groups, clinics, and allied healthcare providers. Medical professional liability insurance protects physicians and other healthcare providers against liabilities arising from the rendering of, or failure to render, professional medical services. Positive Physicians Insurance Company offers claims-made coverage, claims-made plus, occurrence-based policies as well as tail 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 Health Systems industries. Preverity automates risk assessment, rate class placement, application completion, renewal automation, portfolio monitoring and target marketing to streamline processes and automate underwriting. For more information, please visit www.preverity.com.
Shaun S. Fisher
SVP of Marketing & Business Development
Source: Positive Physicians Insurance Company