Leading human resource, payroll, and employee benefit solutions provider, Paychex Inc., has unveiled its new Business Insurance Payment Service, which is now being introduced for Paychex Insurance Agency commercial auto, business owner (BOP), and umbrella products that are sold through Guard Insurance Group, The Hartford, and Travelers Insurance companies.
This new service will allow policyholders to choose to have their premiums paid for by Paychex using a monthly pay-as-you-go method that will help to decrease the premium deposit that is generally made up-front. The policyholders will also be able to reduce their administrative challenges as they won’t need to determine the right premium, make sure that they meet their due dates, or remember to make their payments.
According to the vice president of insurance and human resource services solutions at Paychex, Kevin Hill, this company was the pioneer of the payroll industry’s pay-as-you-go technique for making insurance premium payments a decade and a half ago, when they first established their Workers’ Compensation Payment Service.
Hill went on to explain that Paychex is now working to build upon the foundation of the successes seen by that method with this new release “for the business insurance coverage that business owners need before their business is fully established, or before they even open their doors.”
He said that by providing this additional service to those businesses, it becomes more affordable and simpler to obtain the coverage they require for protecting the company and themselves, regardless of whether they are already operating or they are a new startup.
Live insurance news updates.
