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How InsurePay transformed Beacon Mutual Insurance Co.

Meet Michael Whittaker, the Premium Audit Manager at The Beacon Mutual Insurance Company. With a background in co-managing Loss Control and Premium Audit, Michael has been instrumental in implementing InsurePay’s Pay-as-you-go solution, transforming how Beacon serves its policyholders.

The InsurePay Partnership:

Around 10 years ago, The Beacon Mutual Insurance Company embarked on its journey with InsurePay to offer a Pay-as-you-go solution to Beacon’s workers’ compensation policyholders. Michael Whittaker, the Premium Audit Manager, became the key contact in 2021. Beacon’s decision to partner with InsurePay was influenced by the positive experiences of other workers’ compensation insurance companies that had used its predecessor. Pay-as-you-go was emerging as a game-changing payment option for workers’ compensation policies, aligning perfectly with Beacon’s commitment to providing innovative solutions to its policyholders.

Standout Feature:

One of the standout features of InsurePay is its Account Management meetings, a valuable benefit coupled with an efficient onboarding process for new Pay-as-you-go customers. These meetings play a pivotal role in ensuring a seamless experience for Beacon’s policyholders.

Utilizing InsurePay:

Beacon utilizes InsurePay to offer a nearly seamless Pay-as-you-go experience to its policyholders. This approach eliminates the need for an initial premium deposit and calculates premiums based on actual payrolls throughout the policy term.

InsurePay as a Core Application:

The InsurePay partnership has been identified as one of Beacon’s key strategic partnerships, one that enhances the overall customer experience and makes policy management easier for Beacon’s clients.

Significant Value to Beacon:

InsurePay has brought significant value to Beacon by simplifying payroll solutions for policyholders. Premium audits are streamlined with access to payrolls uploaded to InsurePay, ensuring correct employee classification and accurate capture of gross payrolls.

Achievements with InsurePay:

During the pandemic, while other audit methods saw decreases, companies using Pay-as-you-go and reconciling with InsurePay experienced consistent increases. Beacon has had very few policyholder issues, and when they do arise, they are quickly resolved, enhancing the overall customer experience.

Future Goals:

Michael’s team at Beacon focuses on the people, process, and approach of Premium Audit to provide excellent customer service. By improving the perception of premium audit through the value of Pay-as-you-go, Michael intends to flip the negative connotation often associated with premium audits.

Recommendation:

Michael Whittaker highly recommends InsurePay to others and played a pivotal role in recommending InsurePay to another workers’ compensation insurance company, emphasizing to that company the importance of regular account management meetings for effective communication and issue resolution. Michael values the partnership mentality and responsiveness of InsurePay’s team, which contributes to excellent customer service.

Favorite Aspect of InsurePay:

Michael highlights the responsiveness and proactivity of Beacon’s account manager, Michael Pratt. He appreciates the unique experience of participating in InsurePay’s Customer Advisory Board, where carriers share concerns and work together to find solutions.

Additional Impact:

InsurePay’s Carrier toolkit has been a game-changer for Beacon. It allowed Beacon to share information on its website, improving communication with agents and customers. The toolkit provides clear messaging, ensuring alignment with InsurePay’s intentions. Michael’s journey with Pay-as-you-go began with some initial challenges but was transformed through the support of InsurePay’s resources and account management meetings. For Beacon, InsurePay isn’t just a partner; it’s a catalyst for fostering long-term relationships with customers, agents, and policyholders. 

Visit the Beacon Pay-as-you-go page.