The partnership with Nationwide, a Fortune 100 company, lends considerable credibility and resources to Hourly.io. The integration of Hourly.io’s advanced underwriting model into Nationwide’s platform is set to strengthen Hourly’s network of over 3,000 independent insurance producers.
The partnership aims to expand their client bases, improve customer retention, and generate higher revenues, setting them apart from competitors.
The aim of the partnership is to expand the reach of Hourly’s workers’ compensation and payroll service. Through the collaboration, Hourly will function as a Managing General Underwriter (MGU), using its advanced technology and real-time data-driven platform to underwrite workers’ compensation for skilled trade businesses.
This approach stands in stark contrast to the industry standard of relying on data that is 12 to 18 months old for underwriting decisions. By positioning itself as a fair, accurate, and high-quality insurance alternative, Hourly.io aims to serve businesses in various sectors, including construction, contracted services, transportation and trucking, foodservice, and retail stores.
Since it launched in 2018, Hourly.io has established itself as a disruptor in the industry. The company offers a unique platform that integrates workers’ compensation, time tracking, and payroll services in real time. This novel solution ensures that premiums are calculated with exceptional precision.
As a pioneer in the field, Hourly.io’s mobile-first platform connects these crucial aspects of the industry.
Tom Sagi, Co-founder and CEO of Hourly, said, “With Nationwide on our side, our growing network of independent insurance agents will finally be able to offer small and medium-sized businesses a service-oriented alternative, ensuring they don’t overpay for their coverage. And these same small businesses will better understand their labor costs—including workers’ compensation premiums—information they can use to bid more accurately on projects and manage their expenses to the penny.”
Dale Hoppe, Vice President of Nationwide, also shared his optimism about the alliance, saying, “Our collaboration with Hourly’s payroll platform sets new industry standards by prioritising fair pricing, overall better service, and a commitment to continuous innovation. Nationwide and Hourly’s much-needed upgrades to the workers’ compensation space will become the new benchmark for the industry for the mobile workforce, filling a gap that has plagued workers’ compensation for far too long.”
