Provana, provider of the industry’s first unified platform for compliance and performance management, today announced a partnership with Finexus Insurance Agency to provide clients with greater access to property and casualty insurance offerings, including potential discounts for users of Provana’s compliance solutions. Finexus Insurance Agency, LLC is a leading provider of property and casualty insurance to collection industry companies across the country, founded by industry veteran, Katie Zugsay.
Ms. Zugsay is an attorney, previously serving as Corporate Counsel and Chief Compliance Officer at a top collection agency and as Client Service Executive at one of the largest insurance agencies in the country, where she helped craft bespoke coverage plans for publicly traded financial services clients. She founded Finexus to bring highly customized, top-notch service to collection agencies, helping insurers better understand the unique compliance investments agencies have already put in place. The result is right-sized insurance coverage, often at a reduced cost.
“Katie’s experience within the collection industry makes her an invaluable and highly effective advocate for our compliance clients,” said Shubham Bhargava, Head of Compliance Solutions at Provana. “Her expertise will enhance the value we’re able to deliver to our users, with the goal of delivering discounted insurance rates for their adoption of Provana.”
“Provana is the industry expert when it comes to compliance, and their clients deserve to be fairly compensated for adopting advanced technology that reduces their risk exposure,” said Katie Zugsay, Chief Executive Officer at Finexus. “This benefit is the first of its kind, and we’re excited to deliver innovative compliance and insurance offerings to organizations within the accounts receivables management industry.”
Benefits for collection law firms
Collection law firms are a top target of cyber-attacks. Finexus can help Provana’s law firm clients by maximizing quote options and minimizing declinations and restrictions from cyber carriers. This is especially timely, given the FTC Safeguard Act will likely go into effect for law firms beginning December 9, 2022.
Benefits for debt buyers and collection agencies
Debt buyers and collection agencies who are IPACS clients can now work with Finexus to ensure their organization, in addition to their vendors, have the necessary coverage to safeguard sensitive customer information at the right cost.
About Finexus Insurance Agency, LLC
Finexus helps facilitate trust and understanding between insurers and the insured, while helping clients understand the important coverages they’ve purchased. Finexus’ agent and broker team has access to an expansive list of insurance carriers who are ready to write competitively priced coverages for collection agencies, providing clients with enhanced options and negotiating leverage. Finexus focuses on property and casualty insurance coverages, including workers compensation, E&O, directors and officers, cybersecurity, crime, employment practices liability, and bonds. For more information, visit www.finexusins.com or call 1-800-831-6018.
Provana is a SaaS platform that gives leaders control over process-intensive operations. We serve law firms, insurance companies, accounts receivable agencies and networked enterprises in the US market that are tightly regulated by the CFPB and other authorities. Provana is built on decades of experience in machine learning and natural language processing and helps customers manage sensitive interactions, analyze unstructured data, process personal information and ensure compliance. Provana is backed by a NYC-based Fintech PE, most recently raising funds in November 2020. Learn more at www.provana.com.