Payroll companies are looking to grow the services they provide to their customers.
In fact, Human Capital Management (HCM) companies already offer a lot more than payroll services! HCM’s offer human resource solutions including time keeping, recruitment, benefits, and tax management. Many even offer workers comp insurance through in-house agencies, local agencies or brokers. Because of their broader offerings and experience, HCM companies understand the importance of pay-as-you-go billing to workers comp insurance, and the need to report payroll for their customers.
Regardless of how HCM’s offer workers comp, they understand that they need to offer insurance, especially workers comp, to compete in an ever-changing marketplace. And while many insurance companies have appointed ADP & Paychex in hopes of getting a slice of their customer pie, there are hundreds of other HCM companies in the marketplace representing a much larger base of customers. It is imperative that you consider how to reach these HCM businesses. By leveraging InsurePay’s Pay-as-you-go platform, insurance companies can connect with HCM companies who send payroll to InsurePay.
To succeed in this environment, your agents must understand the value of developing and promoting their relationships with HCM’s. The ‘best’ agents, the ones selling new policies and growing their book of business, understand that you need to develop these partnerships. With affinity marketing, think banks and insurance, there is big potential for sales between HCM companies and insurance agents and brokers, and pay-as-you-go billing can serve as the catalyst for growing these relationships.
So, let us know if your agents are partnering with HCM’s and which ones, as they should be connected to InsurePay. If you contact InsurePay Support, we’ll contact the HCM company and do all of the setup work to get automated payroll feeds. And, for HCM companies that want to work with any of our 30+ insurance carrier customers, let us know and we’ll get you connected!