Today’s workers’ compensation market is more competitive than ever. With more carriers in the space and premiums dropping, all five of the top workers’ comp carriers are now offering “Pay-as-you-go” billing options to boost customer acquisition and retention.
Based on our analysis of our 30+ carrier customers, Pay-as-you-go billing can not only improve customer retention by up to 10%, but it can also reduce uncollectible premiums/bad debt up to 75% and reduce audit costs up to 50%.
In as little as 30 days, carriers can now offer customers Pay-as-you-go billing (connected to 2,000 + payroll providers) using our white-labeled solution. In the sections below, we’re going to demonstrate how InsurePay Pay-as-you-go works.