InsurePay, an end-to-end Insuretech payment platform for Carriers, Agents, and MGAs welcomes AmTrust Financial as a new strategic partner to InsurePay’s Carrier Platform. AmTrust provides insurance protection, warranty programs and risk management expertise to small businesses, professional and financial services firms, retailers, and manufacturers worldwide.
AmTrust is a Top-3 Workers’ Compensation provider and industry leader in the growing Pay-as-you-go market for small business and is looking to accelerate growth and enhance services to their payroll partners and policyholders through the partnership with InsurePay.
InsurePay will enhance AmTrust’s policyholder user experience by allowing them to offer a more integrated Pay-as-you-go product to complement AmTrust’s current solution. Additionally, AmTrust is gaining the ability to quickly add new payroll partners in as little as 24-48 hours with InsurePay’s solution.
InsurePay drives significant value throughout the workers’ compensation policy lifecycle from the benefits of data and money moving together rather than relying on estimates and manual reconciliation.
AmTrust will gain value from InsurePay’s access to over 2000 payroll partners – including Thomson Reuters, Accountants World and many other leading payroll software providers to support their premium growth goals.
AmTrust will benefit from increased operational improvements and the ability to use dynamic data to drive decision-making leveraging the 24/7 real-time visibility into data and on-demand reporting via InsurePay’s securely hosted white-labeled solution.
Retail agents, policyholders and payroll partners will reap significant benefits from the AmTrust and InsurePay partnership. Agents gain the ability to compete against national payroll companies and professional employer organizations. Meanwhile, policyholders benefit from flexible payment options for hassle-free payments and increased control over cash flow.
InsurePay’s payroll partners can access AmTrust’s digital insurance agency that provides reliable, personalized insurance services to small and medium-sized businesses across the US. This access aids businesses in expanding beyond their core offerings to deliver additional solutions to their customers. AmTrust works with licensed & non-licensed referral sources, allowing InsurePay payroll partners to generate recurring revenue streams for their business and offer comprehensive business insurance products such as workers’ comp, cyber, EPLI and BOP to their clients.
“We are thrilled to welcome one of the largest Pay-as-you-go Workers’ Compensation insurance providers, AmTrust, as a new partner. We look forward to the value InsurePay will bring them through an enhanced policyholder experience, access to 2000+ payroll connections and the ability to offer flexible payment options to their customers,” said Scott Van Slyck, CRO at InsurePay.
InsurePay’s SaaS platform creates a seamless user experience for all parties by providing a full suite of products for money and data movement that increases the ease of doing business for collecting, sending, and reconciling payments for the various transaction types involved in the insurance process.
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers’ compensation, business owner’s policy (BOP), general liability and extended service and warranty coverage. For more information about AmTrust, visit www.amtrustfinancial.com
InsurePay® is a leading Insuretech SaaS platform that enables the accuracy of premiums, integrated payments, and reconciliations in real time for Agencies, Carriers, MGAs, and insurance technology providers. InsurePay® is empowering Carriers and their partners to allow policyholders to pay only for what they need with real-time system and data-driven accuracy and flexibility, through a feature-rich platform that offers policyholder payments, Carrier Pay-As-You-Go and payables, vendor payables, and claims payments and Agency receivables all integrated to back-office core systems. To learn more, visit www.insurepay.com or follow the company on LinkedIn.