Pay-as-you-go

InsurePay® Pay-as-you-go

InsurePay® Pay-as-you-go calculates, collects and remits insurance premiums each pay cycle using real-time payroll data. 

With Pay-as-you-go insurance providers can monitor their policyholders’ exact premiums each pay cycle through our secure custom branded portal with direct data connections to leading payroll companies.

Pay-as-you-go is a simple, accurate and flexible product that delivers cost benefits to carriers, agents, payroll providers and policyholders.

Pay-as-you-go Advantages

Rich API

to allow for easy sending and retrieving of data

Extensive Configurations

for complete flexibility

Payroll Provider

on boarding in as little as 48 hours

Easy Setup

for carriers and payroll providers

Multiple Options

for sending policy data

Extensive Configurations

of payroll provider partners

White Label

solution offered for custom branding

Take the Guesswork Out of the Year-End Audit
with Pay-as-you-go

InsurePay® offers insurance companies a Pay-as-you-go workers’ compensation solution for policyholders of all sizes. We enable businesses to pay their premiums each pay period based on actual payroll, rather than generated estimates, taking the guesswork out of the year-end audit.

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Pay-as-you-go “How It Works”

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carriers

Benefits to Carriers:

Reduce operational costs including billing, collections and auditing

Provide real-time access to payroll data

Use payroll data for more predictable financial reporting, underwriting, commission processing and claims administration

Eliminate collection efforts by accurately monitoring policyholders

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Benefits to Agents:

Increase sales by offering a competitive product

Help customers manage cash flow and reduce exposure at the end-of-year audit

Improve retention at policy renewal

Reduce servicing

Reduce audit anxiety

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Benefits to polycyholders

Benefits to Policyholders:

Reduce or eliminate large down payments which usually range between 20% - 50% of the Total Estimated Premium

Improve cash management by accurately computing premiums and avoiding overpayment or underpayment to carriers

Base premium payments on actual payroll instead of generated estimates and minimize the end-of-year settlement payment

Reduce the risk of unfavorable audits by being completely aware of how much premium is due for each payroll

Eliminate paper check writing with automatic ACH processing that is completely transparent and available for viewing 24/7

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Benefits to Payroll Providers:

Multiple carriers, one process

Simple and flexible payroll reporting

Work with any insurance agent

Exposure to new business

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Go live in as little as 30 days

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Pay-as-you-go Blogs