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Workers' Comp Insurer Introduces Automated Payments

Key Risk's PremiumSync platform automatically calculates workers compensation premium against the actual payroll reported by an employer.

Greensboro, N.C.-based workers' compensation carrier Key Risk has introduced Premium Sync, a payment system that automatically calculates premiums against actual payroll reported by an employer.

PremiumSync is a component of MasterKey Connects, Key Risk's proprietary risk information platform.

“PremiumSync was developed to provide our policyholders with a simplified option for administering their workers compensation program,” Rob Standen, president of Key Risk, says in a statement. “By using an automated payment solution, employers will be able to make premium payments at the same time that they pay their employees. With this payment option their premium is calculated in real-time against their actual payroll.”

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

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