NU Online News Service, Nov. 8, 1:37 p.m. EST
A New England-based online cluster is partnering with a technology based pay-as-you-go Florida vendor to launch a new workers’ compensation program that will benefit 95 independent agencies and their customers.
Renaissance Alliance’s President and Chief Executive Officer Bruce Cochrane announced a partnership with InsureLinx of Sarasota, Fla., a national workers’ comp pay-as-you-go (PAYGO) technology vendor, to launch EZPayIns.
The program is described as an agent-centric workers' comp PAYGO product serving independent agents, insurers, and the commercial business community.
Currently in beta testing, it is expected to be launched early next year, Wellesley, Mass.-based Renaissance Alliance says.
Renaissance says EZPayIns will be fundamentally different from any existing PAYGO program because it will provide independent agents and their commercial customers access to multiple insurer PAYGO options. Customers will have the freedom to continue processing their payrolls as normal without requiring any change in their current agent or payroll service provider relationships.
Cochrane says, “Our member agents are at the core of the EZPayIns platform in providing their clients trusted localized service and business solutions choices. Alternative PAYGO products offer one or limited market options from individual insurers and payroll service providers or both. This old paradigm significantly limits the customers’ ability to obtain the best possible solution for their workers compensation needs.”
Jeff Harris, president and founder of InsureLinx, says, “I am an independent agent myself. I strongly believe in the risk management expertise and value the independent agency system delivers to employers when it comes to workers' compensation. We are very enthusiastic about our Renaissance Alliance partnership to deploy our combined technologies in providing EZPayIns to the Alliance network of 95 independent insurance agencies.”
For agents, just a few of the many advantages of EZPayIns include ease of administration through integrated automation; a value-added service that bolsters client retention; and the elimination of agent and client friction often arising from surprise year-end audits that result in large additional lump sum premiums.
For employers, EZPayIns matches cash flow with revenue; eliminates or significantly minimizes workers’ comp down payments and large audit premiums, and affords administrative efficiencies with continued service from an existing trusted agent and payroll service provider.
EZPayIns is an exclusive offering only to Renaissance Alliance members and partners.