Pay-as-you-go is a billing option which enables insureds to pay for their workers comp premiums based on actual exposure, their real time payroll expense. The result is the insured pays what they owe when they owe it. This improves cash flow, eliminates estimated premiums, reduces or eliminates end of term audits, and provides the ease of electronic billing.
Our processing system calculates, collects and remits premium using client payroll data and transfers the appropriate premium payment via EFT to the carrier. The insured pays their insurance premiums based on actual exposures, their per pay period payroll, in real time.
Some of the large payroll companies who provide pay-as-you-go are also insurance agencies. They use their payroll relationship to write the insurance. Our payroll providers are certified both to transmit data to our system and they certify they are "Agent Friendly" which means they are not looking to write the insurance.
Other pay-as-you-go programs require the insured to switch to just one "preferred" provider or pick from a limited list of providers. With our system we have an easy process to add new payroll providers to give insureds more choices.
Our system can accept data from all of the major payroll software platforms so the integration for file transfer is already built into the software most payroll companies already use. In addition, we can also accept excel spreadsheet uploads, manual web interface data entry, and custom file transfer via FTP.
Currently the system is already set up to work with the following vendors software platforms:
You simply request pay-as-you-go for the billing option, verify the payroll source is certified, and submit the proper contact information. It’s that simple.
InsurePay Certification Request
Now insureds can self report payrolls per pay period online direct and no payroll company is necessary.
Hartford offers an easy online set up and user friendly interface. Simply request this option when binding the account and provide the insured’s accounting contact person’s information.
Choose from a select number of payroll companies already set up to do pay-as-you-go workers compensation business direct with Hartford. Note that these are strictly payroll providers and they do not offer insurance. Please request this billing option at the time of binding and provide the name of the insured’s payroll carrier from the list below.
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A division of Safehold Special Risk, Inc.