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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.

Michael Whittaker, Premium Audit Manager at The Beacon Mutual Insurance Company, shares the transformative journey Beacon Insurance has experienced with InsurePay Pay-as-you-go Workers’ Compensation billing. Since Beacon started working with InsurePay in 2012/2013, they have continuously leveraged its benefits, especially after Michael took over as the Premium Audit Manager in January 2021. Beacon initially adopted InsurePay because other AASCIF members had positive experiences with the predecessor to InsurePay Pay-as-you-go. Recognizing the emerging trend of Pay-as-you-go in Workers’ Compensation policies, Beacon’s senior management decided it was essential to offer this innovative payment option to their policyholders.

Beacon uses InsurePay to deliver an almost seamless Pay-as-you-go Workers’ Comp experience to their policyholders. This system eliminates the need for an initial deposit and allows premiums to be based on actual payrolls throughout the policy term. This approach not only simplifies the payment process but also enhances accuracy and convenience for policyholders. According to Michael, one standout feature of InsurePay is its account management meetings, which are integral to onboarding new Pay-as-you-go customers. These meetings ensure continuous communication and support, addressing any issues promptly and efficiently. For Beacon, InsurePay’s integration with automated payroll solutions simplifies premium audits. With access to uploaded payrolls, Beacon’s staff can verify correct employee classifications and ensure accurate gross payroll captures, significantly easing the audit process.

InsurePay demonstrated exceptional value during the pandemic. While other audit methods saw decreases in payroll data and premium accuracy, the companies using Pay-as-you-go maintained consistent increases in the accuracy and reliability of payroll data and premium collections, highlighting the stability and reliability of this payment method. As Beacon transitions to a new core policy management system, the partnership with InsurePay has been identified as a key strategic element due to its user-friendly interface and seamless customer experience. Beacon plans to further leverage InsurePay’s capabilities by identifying companies that have successfully used Pay-as-you-go for several years. By tagging these companies, Beacon aims to automate the policy reconciliation process, enhancing customer retention and making policies more “sticky.”

Michael emphasizes the importance of customer feedback in improving Premium Audit processes. His goal is to shift the perception of premium audits from negative to positive by focusing on people, process, and approach, rather than just outcomes. By continuously surveying customers, Michael aims to ensure that the Premium Audit process at Beacon is viewed positively, facilitated by the value provided by Pay-as-you-go. Michael has actively recommended InsurePay to other insurance companies, such as Missouri Employers Mutual Insurance Company (MEM). He stresses the importance of regular account management meetings and highlights InsurePay’s responsiveness and partnership-focused approach. For Beacon, InsurePay’s responsiveness to customer issues significantly enhances their service quality.

Michael appreciates the proactive and responsive nature of InsurePay’s account management team. Additionally, participating in the Customer Advisory Board has provided valuable insights into industry challenges and solutions. InsurePay’s Carrier Toolkit has also made a substantial impact. Previously, Beacon lacked public-facing information about Pay-as-you-go. The toolkit provided clear, updated messaging that Beacon could use to inform customers and agents effectively, aligning perfectly with InsurePay’s intended communication.

When Michael first got involved with Pay-as-you-go, he felt like he was scrambling, going through files upon files. He began to adjust and things improved having access to the carrier toolkit and by talking through items that come up in account management meetings with InsurePay when updates are made. When Beacon first built their Pay-as-you-go page, they hoped the messaging fell in lockstep with what InsurePay has intended. And it did! 

Find Beacon’s Pay-as-you-go page here: https://www.beaconmutual.com/pyg/.

For carriers, InsurePay has demonstrated that they want to be the partner to help develop solutions and long-term relationships with Beacon’s customers – through the agent, for the agents, and ultimately for the policyholders.