With TRUPAY®, carriers can now cost-effectively provide their policyholders with the convenience of automatically paying premiums each payroll. Carriers using our pay-as-you-go product can:
- Maximize the insured's predictability and cash flow
- Increase savings by reducing invoicing and audit costs
- Accurately match premium with risk
- Minimize audit surprises and bad debts at the end of the policy term
- Expect 4-5% higher retention rates compared to standard books
Our pay-as-you-go Workers Comp product is the most widely used product on the platform and an industry leader in collected premium.
Property & Casualty Lines
All commercial Property and Casualty Lines of business can be added to pay-as-you-go processing by collecting earned premium each pay period. Policyholders benefit from the convenience of one bill for all their insurance premiums and a simple payment process. Carriers benefit from reduced mailing and administration costs and increased cross-sell opportunities. Split Limit is developing this product in partnership with our customers.
Statutory and Voluntary Benefits
Pay-as-you-go processing supports Statutory and Voluntary Benefits by collecting actual earned premium from the payroll data file each pay period, as opposed to traditional methods of collecting estimated premiums in arrears. This billing method accurately identifies participating employees each pay cycle. Policyholders benefit by maximizing cash flow while carriers benefit from increased premium accuracy and reduced administrative costs.
Intuit Payroll Integration
Split Limit Studios is the only pay-as-you-go platform providing an automated interface with Intuit. Once policyholders complete the initial registration, TRUPAY® receives payroll data from all Intuit payroll platforms automatically each time the small business runs payroll. The Intuit Payroll Integration functionality includes:
- Accurate identification of policyholders that use Intuit Payroll through a real-time FEIN match
- Automatic registration for Intuit Payroll customers
Split Limit can provide the Intuit payroll data services through your pay-as-you-go platform.
We’ve done the work for you by integrating hundreds of payroll companies into our platform. Use the power of TRUPAY® to receive payroll data from multiple sources and consolidate them into one format. TRUPAY® Connect enables you to integrate payroll feeds into your system in a fraction of the time.