Worcester, MA – The Hanover Insurance Group, Inc. (NYSE: THG) recently announced the launch of Hanover EZPay, a pay-as-you-go solution for workers’ compensation policies that allows insureds to pay their premiums in real-time, based on payroll, helping independent insurance agents provide better service to their clients.
This new payment solution offers businesses the option to pay their premiums as part of their payroll processes, either by self-reporting payroll at the end of each pay period or by linking Hanover EZPay with their payroll company.
“Hanover EZPay allows agents to provide their clients with increased flexibility and peace of mind by offering a payment option that fits with the flow of their business,” said John C. Roche, president of commercial lines at The Hanover. “For many agencies, this also helps increase customer satisfaction and retention, making it beneficial for both the agent and the customer.”
Business owners can now pay their workers’ compensation insurance premiums as each payroll cycle is processed, helping to improve their businesses’ cash flow and reduce audit exposures with real-time premium calculations. This option also offers businesses automatic premium withdrawals and does not require down payments or monthly billing fees.
The introduction of Hanover EZPay is further commitment to The Hanover’s workers’ compensation business, helping to enhance its agents’ ability to provide high-quality, easy-to-use products to their customers. This new payment option is available exclusively for The Hanover’s elite agent partners across the country and cannot be obtained directly through the company.
Source: The Hanover