Le Lézard
Classified in: Science and technology
Subject: Product/Service

Insurepay's Accelerator for Pay-As-You-Go Workers' Compensation Premiums Now Available in Guidewire Marketplace


Insurepaytm, a workers' compensation administration and insurance premium billing platform for insurers and Guidewire PartnerConnect Solution partner, and Guidewire Software, Inc. (NYSE: GWRE), today announced that Insurepay's new Ready for Guidewire validated accelerator is now available to PolicyCenter users in the Guidewire Marketplace.

The cloud-based Insurepay platform uses real-time payroll data to calculate, collect, and remit workers' compensation insurance premiums for each pay cycle. Because premiums are calculated using exact payroll wages instead of estimates with Insurepay, businesses can make more accurate premium payments each pay cycle, leading to improved cash flow and reduced audit surprises.

With more accurate payments, insurers can see reduced operational costs associated with billing and collections and more predictable financial reporting. Insurepay has a partner network comprised of over 1,500 payroll providers to ensure easy integration and usage for policyholders, enhancing policyholder satisfaction and retention.

Insurepay's pay-as-you-go billing integration enables insurers to:

"The variability in payroll caused by the pandemic finally exposed the traditional model of premium billing in workers compensation as wholly outmoded and unnecessarily cumbersome," said Adam Beck, chief executive officer, Insurepay. "What insurers and insureds alike are seeking is a match between exposure and premiums, which is precisely the solution pay-as-you-go provides. Our partnership with Guidewire allows us to integrate with our shared customers efficiently and seamlessly, and it limits the cost and time required for a new insurer to implement InsurePay's pay-as-you-go solution."

"We congratulate Insurepay on the release of its accelerator, now available in Guidewire's Marketplace," said Neil Betteridge, vice president, Strategy, Guidewire Software. "Many policyholders now expect insurers to offer a pay-as-you-go billing option. Insurepay's Guidewire integration gives insurers the power to quickly implement pay-as-you-go billing for workers' compensation policies without the hassle and expense of building their own solution."

About Insurepay

Founded by insurance industry experts who set out to build innovative solutions to transform workers' compensation insurance billing, InsurePay® enables insurance providers to seamlessly offer a Pay-As-You-Go (PayGo) billing solution for workers' compensation policyholders. Since 2003, insurance providers can monitor each policyholder's exact premiums for each pay cycle ? all through InsurePay's secure, custom branded portal with direct data connections to leading payroll companies. Today, InsurePay processes more online PayGo billings than any other independent services company in the world. To learn more, visit www.insurepay.com or follow InsurePay on LinkedIn.

About Guidewire PartnerConnect ecosystem and Ready for Guidewire

Guidewire PartnerConnect Solution partners provide software, technology, and data solutions as well as insurance support services. Our Solution partners help drive business value and innovation for insurers by developing and delivering integrations, extensions, apps, and other complementary solutions for Guidewire products. All of our Ready for Guidewire partner solutions are validated for security, quality, and compatibility with Guidewire, and can be found in the Guidewire Marketplace.

For more information about Guidewire PartnerConnect, please visit http://www.guidewire.com/partners.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on Twitter: @Guidewire_PandC.

NOTE: For information about Guidewire's trademarks, visit https://www.guidewire.com/legal-notices.


These press releases may also interest you

at 11:55
Humanetics Corporation (Humanetics), a clinical-stage pharmaceutical company pioneering radiation countermeasures, adjuvant oncology therapies, and pulmonary protective therapies for COVID-19, has announced the addition of Dr. Karen Smith and Mr....

at 11:53
PAO Group, Inc. (USOTC: PAOG) today announced the company's merger and acquisition development pipeline supports plans for a first acquisition to close before the end of this year.  PAOG is actively exploring merger and acquisition opportunities...

at 11:51
Jill Osur, founder and CEO of the purpose-driven all digital winery Teneral Cellars, is the recipient of this year's Adrienne Hall Award for Breaking Down Barriers from the Women Presidents' Organization (WPO). The award was announced at the group's...

at 11:47
Moët Hennessy, world leader in premium wines and spirits, is pleased to announce its new ambitions to help limit global warming. The core objective consists in adopting the 1.5°C target, as stipulated under the Paris Agreement and confirmed by the...

at 11:45
InQuest (www.inquest.net), a leading provider of email security and emerging threat prevention services and solutions, announced today the general availability of the ongoing test data leveraged by InQuest Labs to assess and evaluate the security...

at 11:37
OWC®, the premier zero-emissions Mac and PC technology company, and a respected provider of Memory, External Drives, SSDs, Mac & PC docking solutions, and performance upgrade kits, announces the availability of SoftRAID 6.2 for Mac, adding...



News published on 16 september 2021 at 09:00 and distributed by: