Pay-as-you-go for Guidewire
Guidewire’s Integration with InsurePay allows any carrier on the Guidewire Platform to seamlessly offer our Pay-as-you-go billing option in as little as 7-10 days.
InsurePay is the leading provider of Pay-as-you-go for the workers’ compensation industry.
InsurePay is a cloud-based SaaS platform that aggregates payrolls, calculates, collects, and remits insurance premiums for each pay cycle using real-time payroll data.
Guidewire’s integration with InsurePay allows carriers to effortlessly offer and maintain a Pay-as-you-go application. InsurePay provides carriers with a custom branded portal to ensure a consistent user experience for their policyholder. InsurePay integrates with 2000+ payroll providers, so an insured’s transitioning to a more dynamic payment program can occur rapidly and without interruption.
With InsurePay, insurance providers can monitor their policyholder’s exact premiums for each pay cycle through our secure custom branded portal with direct data connections to leading payroll companies. InsurePay provides a simple, accurate, and flexible product that delivers cost benefits to carriers, agents and policyholders.
Benefits & Key Features
- Provides real-time access to payroll data and premium adjustments
- Speed to market – rapid integration with minimal IT resources
- Easy customization capabilities
- Quickly generates year-to-date comparisons and trending reports
Advantages for Guidewire Carriers
- No premium invoicing
- Collection of actual premium during policy period
- More accurate renewal decisions
- Reduces bad debt/uncollectable earned premium
- Complete policy transparency
- Real-time premium adjustment
- Increases policy retention
- Competitive advantage
- Increases customer satisfaction
- Increases agency loyalty
- Reduces cancellations and reinstatements