Intuit Inc., a software company, announced a new platform designed to simplify small businesses’ workers’ comp payments with a “pay as you go” model. The coverage is purchased directly from 20 national carriers with premiums calculated in real-time based on QuickBooks payroll data. According to Intuit, “with pay-as-you-go workers’ compensation, small businesses can make payments based on actual payroll rather than estimates of employee activity” with additional benefits including increased convenience, available cash flow, and greater predictability. The insurance providers partnering in Intuit’s effort include: The Hartford, Farmers, Berkshire Hathaway GUARD Insurance Companies, Eastern Alliance Insurance Group, CNA, EMPLOYERS, Markel FirstComp, ERIE Insurance, The MEMIC Group and The Hanover Insurance Group.
Read more via Claims Journal here.