January 13, 2010
Paradox Technology Solutions Launched by Insurance Industry Technology Veterans
A team of two Chicago entrepreneurs, Sandeep Mehta and Rick Madock have recently launched a new software solutions firm serving the commercial insurance industry. Their first product, WorkersCompensationExpert™, is an end-to-end platform for the Workers Compensation industry. Clients are insurance carriers, Managing General Agencies, Workers Compensation Third Party Administrators and Self-Insured Programs.
The executive team has experience in launching and growing successful software companies, building scalable, flexible IT platforms and serving most of the top 10 US P&C insurers in the areas of IT transformation, business operations and strategy.
In 2000, the same team founded and built InsuranceNoodle.com, the first internet-based commercial insurance risk placement engine. The firm was awarded a US patent for its proprietary XML technology and was sold to the Willis Group, the global insurance broker in 2007. InsuranceNoodle’s proprietary technology solved the issue of single entry multi-carrier interface, bringing unprecedented speed and efficiency to distribution channels in the small commercial insurance market.
Sandeep was formerly CEO of PCS, a premier IT consulting firm, and nPhase LLC, a PCS spin-off which pioneered ‘machine to machine’ technology and was sold to Qualcomm in 2006.
Rick has held senior management roles in the insurance and financial services industry. Rick was President of a $3B division at CNA, and held senior operations roles at leading financial services firms.
For further information, please contact Sandeep Mehta Co-CEO at (312)925-0362 sandeep.mehta@ptsinsurance.com or Rick Madock, Co-CEO at (312)286-1554 or rick.madock@ptsinsurance.com
