InsurTech Amplified’s Post

Announcing the launch of NEXT Workers Compensation integration within When I Work ! Almost 44 percent of small businesses lack insurance and struggle with access, costs, and coverage. NEXT Insurance extends embedded, fast, digital and flexible workers’ comp insurance coverage to our customers. NEXT uniquely delivers policies that are customized to specific industries and roles. The employer will have the option to get a quote and then purchase workers’ comp insurance directly through the component. Onboarding will be streamlined with data already collected for payroll. Another unique feature is the “pay-as-you-go” model. Unlike traditional workers’ comp billing, which requires businesses to pay a large, estimated annual premium up-front when they purchase their policy, pay-as-you-go systematically calculates premiums using actual payroll data, every pay cycle. Congrats to Nick Wellner Sandeep S. Kumar Brady Peterson Jevan Meader Merten Vg Phil Schept Briana Libby Filipp Brunshteyn molly J. for this awesome launch!

Having been here at Netchex for a little over a month, I'm blown away by the innovation that we are rolling out to make HR professionals and business owner's lives dramatically easier! Here's a great example below. Workers comp is never an easy thing to navigate - pay as you go is so much better... our announcement with the integration with Next Insurance is game changing! 🌟 Stay tuned for even more innovation coming in the next few months that I'm so excited for my HR colleagues to see soon. Want to get involved with our innovation, check out our Netchex careers too! 👨💻 #HR #HRtechnology #innovation

New Blog! Find out how to get more of your policies on Pay-as-you-go and why it’s a strategic move for your business. Read more: https://buff.ly/3x0LIso #SaaS #WorkersComp #Insurance #InsureTech

💼 Why Pay-As-You-Go Workers' Comp Insurance is a Game Changer for Cash Flow 💼 Managing cash flow can be one of the biggest challenges for small businesses, especially when you’re required to make large upfront payments for your workers' compensation insurance. With Pay-As-You-Go Workers’ Compensation from Insured Solutions, businesses only pay premiums based on real-time payroll data, eliminating the need for hefty upfront costs and allowing you to spread the payments throughout the year. Key Benefits: 🌟 Avoid Large Upfront Costs: Pay premiums as you process payroll, keeping cash flow intact. 🌟 Accurate Premiums: Your payments reflect your actual payroll, reducing the risk of overpaying or underpaying. 🌟 No Year-End Surprises: Traditional workers' comp plans often lead to unexpected year-end adjustments. PayGo ensures there are no surprises. Ready to simplify your workers' comp and improve your cash flow? Contact Insured Solutions to learn more! Know more about Insured Solutions & services here: https://lnkd.in/gYwA5Pq6

Every day, businesses are navigating financial challenges that impact morale and productivity. As we gear up for the upcoming year, budgets will be tighter, bonuses reduced, and raises postponed. It's pivotal to adapt and support our teams during these tough times. Introducing the SIMRP program! This initiative ensures financial stability and comprehensive medical reimbursement for all employees, without affecting take-home pay. It's a win-win solution for both employers and employees. Key points about the program: - Health Insurance: Voluntary employee benefit program. - Legal Federal Program: Tax-qualified Self-Insured Medical Reimbursement Plan approved by the IRS. - Payroll Integration: Seamless partnership with all major payroll services. - Group Health Insurance: No impact on existing company-sponsored plans. - Workers' Comp Policy: Premiums decrease without policy changes. - Cost: Participation is at zero out-of-pocket expenses. - Insurance Selection: Employees can choose policies using provided non-taxable allowance. Prioritize employee well-being while maintaining earnings with this innovative program. Learn more about how it can benefit you! Schedule a meeting today and get started in under four weeks.

Every day, businesses are navigating financial challenges that impact morale and productivity. As we gear up for the upcoming year, budgets will be tighter, bonuses reduced, and raises postponed. It's pivotal to adapt and support our teams during these tough times. Introducing the SIMRP program! This initiative ensures financial stability and comprehensive medical reimbursement for all employees, without affecting take-home pay. It's a win-win solution for both employers and employees. Key points about the program: - Health Insurance: Voluntary employee benefit program. - Legal Federal Program: Tax-qualified Self-Insured Medical Reimbursement Plan approved by the IRS. - Payroll Integration: Seamless partnership with all major payroll services. - Group Health Insurance: No impact on existing company-sponsored plans. - Workers' Comp Policy: Premiums decrease without policy changes. - Cost: Participation is at zero out-of-pocket expenses. - Insurance Selection: Employees can choose policies using provided non-taxable allowance. Prioritize employee well-being while maintaining earnings with this innovative program. Learn more about how it can benefit you! Schedule a meeting today and get started in under four weeks.

Hey there, LinkedIn friends! 🌟 Did you know that workers' compensation is more than just an insurance policy? It's a vital lifeline for employees and a strategic asset for businesses. 🤔 But what exactly is workers' compensation, and how can it benefit your business? In this eye-opening article, we dive into the world of workers' comp and uncover: ✅ The fundamentals of workers' compensation and its impact on your business ✅ How to implement a workers' compensation plan that keeps everyone safe ✅ Cost-saving tips and strategies to optimize your program Don't miss out on this game-changing information! Click the link below to learn the secrets of workers' compensation and transform your business. Read the Full Article Now 👉 https://lnkd.in/dvfYtin8 Stay safe and successful!

The latest updates to National Insurance contributions stand out as a significant shift. Whether you're an employee, self-employed, or a business owner, understanding the implications of these changes is crucial for managing your finances effectively.   Business owners need to be aware of how these changes affect the cost of employing staff. With alterations in the thresholds and rates, the overall cost of National Insurance contributions for your employees could shift, impacting your payroll budgeting. It’s essential for businesses to update their payroll systems and communicate any changes to their employees transparently.   For further details read our latest blog - https://lnkd.in/eyVJ_Es9   Need personalised advice – get in touch. #nationalinsurance #budget2024 #budget #payroll #payrollsolutions #payrollservices #wales #swansea #neath Fran Faull Fay Cornelius Ellie Hughes Richard Chapple

Trustmark's new infographic shows how you can deliver simplified benefits billing for employers. ACH for benefits billing helps save employers time, energy and resources. Re-imagine benefits billing by downloading our ACH infographic today.

So, Employers National Insurance is changing. Not new news! However, have you had any discussions or carried out any investigation into how much of an impact this could have on your business? I recently carried out a review for a client who was in their words "confused with some of the online calculators and drifting between terrified and mild panic" with the results they were getting. We will, over the next week or so, complete this exercise for all of our clients as we know it is important to offer as much support as possible with payroll related changes that can cause impact to businesses. This is a potentially confusing/costly change and now is the right time to be having conversations about the impact this will have on business in the coming year to be able to recognize what, if any, actions should be taken. If you do have any questions regarding this obviously reach out to your payroll team/provider for clarity. Or failing that, give us a shout and we will be happy to offer help with forecasting the effect going forward if we can. Email: payroll@dcpayroll.co.uk