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Small Commercial | Middle & Large Commercial
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MARCH AGENT® NEWSLETTER
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Pay-As-You-Go Had a Bigger Impact on Policy Retention in 2020
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Our research1 shows that once a small business owner learns about pay-as-you-go, they want to enroll. This is because of the cash flow benefits, which include:
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No billing installment or late fees
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Lower likelihood of a premium audit adjustment since premium payments are more accurate during the policy term
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Plus, pay-as-you-go addresses one of customers’ biggest pain points—the premium audit. Customers with a pay-as-you-go option can expect a more seamless audit experience.
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When you sell pay-as-you-go, you have the confidence of knowing you’re selling a solution that:
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Delivers higher policy retention rates
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We make it easy for you to offer and enroll a customer in pay-as-you-go.
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Enrolling a customer is just as easy as signing them up for direct bill but with better retention benefits. The process is seamless in ICON, the quoting system you consistently rank #1. 2
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With 700+ payroll partners, we’re probably working with your customers’ payroll providers, which helps make the process hassle-free. If not, we’ll work to add them—usually within 24 hours.
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You can offer a solution regardless of how a customer runs their payroll; most competitors only offer payroll billing through a self-reported option. In addition, our new SmartPay option makes it easy for customers who run their own payroll, use a payroll partner not partnered with The Hartford or use a payroll company that owns an insurance agency, to submit payroll to us.
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No billing installment or late fees.
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Visite nuestro pay-as-you-go billing solutions page on marketing central for more information.
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Sell pay-as-you-go to boost policy retention while delivering a solution customers want.
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1 The Hartford’s Sponsored Research, 2018.
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2 Agent NPS Blind Study, 2020.
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The Hartford® is Hartford Fire Insurance Company and its affiliated property and casualty insurance companies, 690 Asylum Avenue, Hartford, CT 06155.
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© 2021 The Hartford.
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