Payroll Companies for All Your Insurance Needs

[AZDave]

I come across payroll companies offering work comp all the time. Now today, I find myself competing against a payroll company offering the GL, BAP, EX and WC. Bastards even quoted the same company as my offering, and had the insured sign a BOR.

I love this business, I love this business, I love this business...

 

[myfakename]

I come across payroll companies offering work comp all the time. Now today, I find myself competing against a payroll company offering the GL, BAP, EX and WC. Bastards even quoted the same company as my offering, and had the insured sign a BOR.

I love this business, I love this business, I love this business...

Ive had Paychex attempt that in the past.

 

[Gulfman]

I come across payroll companies offering work comp all the time. Now today, I find myself competing against a payroll company offering the GL, BAP, EX and WC. Bastards even quoted the same company as my offering, and had the insured sign a BOR.

I love this business, I love this business, I love this business...

That sucks.

Which payroll company?

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Ive had Paychex attempt that in the past.

Ok...so were you able to compete with them?

 

[nyc2phi]

They BOR all the time. ADP is the worse as they usually slip a BOR in without the customer even knowing what it is.

They all charge a fee for this service sometimes as much as $15 per time they process a payment for workman's comp because they basically audit it right there. I use this as a selling point because your not charging them that fee

 

[insurance1822]

My neighbors are both VP's for ADP. That's a big efficient well oiled machine when it comes to getting the WC. I haven't seen them get into other lines yet.

That sucks, sorry to hear.

 

[dean8287]

This does come up a lot. Does anyone out there know of payroll companies that work directly with insurance agents and the companies the agent is directly appointed with? I have run into several that work with agents but they always want to write the WC themselves and pay the agent a small commission.

 

[Placementkid]

The difference is service. I will challenge any customer to call thier payroll company and ask them to explain the rate increases for the LCM and base rates we are looking at in 2016. Ask them to explain how their experience mod is calculated. I know my agency has a dedicated claims representative, does the payroll company?

They are selling WC as a commodity, I can't fault them for that. I can fault the agents who aren't pointing this out to their clients.

It's my understanding that most agents don't fully understand WC. Maybe that's because it only pays 5% commission, maybe it's too time consuming to understand? I don't know what reasoning is, but if you can't sell service and risk management to your customer/prospect, then why wouldn't the customer go with a company who can handle their payroll and WC?

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This does come up a lot. Does anyone out there know of payroll companies that work directly with insurance agents and the companies the agent is directly appointed with? I have run into several that work with agents but they always want to write the WC themselves and pay the agent a small commission.

'

The easy answer here is that if you want to find someone who will do payroll and let you take the insurance, I think you need to build that relationship.

I do business with many CPA's who refer their clients to us for their WC needs, but you better believe that we are sending them customer who need their payroll done as well.

Alot of carriers now offer self reporting pay as you go. There fees involved, but these are the same fees that are built into ADP and Paychex rates.

I think if you took the time to self educated on WC and pay as you go offerings, you can now market yourself as someone who is beneficial to payroll companies. They then won't be worried about opening up their customers to you. Just my .02...

 

[AZDave]

My competitor here isn't the paychex or adp. Found out it is just an agency that also has a side company doing payroll services. This prospect is new in business and will have immediate payroll. This agent added value that I cannot match.

Still pisses me off any time I get BOR'd!

I know how to compete with the wc and payroll services, pay as you go features, etc.

Definitely worth having a payroll option to add or refer for some accounts.

Dave

 

[FL P&C Broker]

I can't remember the name. But there is a payroll company out there that will basically let you white label their product to combine with WC.

 

[dean8287]

I can't remember the name. But there is a payroll company out there that will basically let you white label their product to combine with WC.

Is there anyway you can send me this info?