Policyholders
If you are still paying your premiums based on estimated payrolls and truing up the final premium after an audit – you are probably still using dial up internet and possibly still have your IBM Selectric typewriter (just in case).
Today, policyholders are demanding “Pay As You Go” payment options in record numbers. As of the 2nd Quarter of 2010, it was reported that approximately 4,000 new policyholders per month selected to have their payments collected based on their actual payroll versus an upfront estimate. Ask your payroll partner if they use InsurePay?
InsurePay is making this option even more popular with increased reporting methods and with the long anticipated release of FRT (Field Recognition Technology). We are certain our groundbreaking document reader is going to make an enormous impact in the industry.
Why is “Pay As You Go” so popular?
Do your payrolls fluctuate? Have you had a change in circumstances or experienced an unexpected event? Have the current economic conditions changed your business?
Any of these conditions can have a substantial impact on your workers’ compensation premiums. No one has a crystal ball and no one can predict the future with 100% accuracy. Therefore why do you believe the estimated payroll amounts indicated on your workers compensation application or policy will be accurate 12 months later?
InsurePay offers the most sophisticated payroll based premium calculation system available and we invite you to see for yourself. Contact a representative today to see if your carrier, agent and/or payroll partner offer InsurePay or look for the InsurePay Alliance logo on their brochures or website.
Below is a list of benefits from our perspective: Please review the list and determine how we can help your business.
- Reduced or Eliminated Down Payments
- Premiums are Calculated on Actual Payrolls versus Estimated
- Reduced or Eliminated Audit Exposure
- No Checks to Write
Feel free to contact us to determine if your existing policy qualifies for InsurePay.
