Stuckey & Company to Host Free Webinar on XactPAY Web®, an Integrated Payment Solution for Worker's Comp Premiums

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Stuckey & Company's free webinar for independent insurance agents is on Tuesday, August 24, 2010 at 2:30 pm CDT. The webinar will outline the benefits of XactPAY Web®, and online solution that helps any company using QuickBooks® for their payroll to reduce their upfront premium and improve their cash flow throughout the year.

Stuckey & Company is hosting a free webinar for independent insurance agents on Tuesday, August 24, 2010 at 2:30 pm CDT. In this free webinar, Tracey Hagy-Kelly of The Hartford will discuss XactPAY Web®, a pay-as-you-go Workers Comp premium payment service that allows policyholders to increase cash flow by eliminating large premium down payments. Stuckey & Company offers XactPAY Web® to its network of Licensed Agents as a value-added service to insurance clients who use QuickBooks® for their payroll accounting.

The Hartford’s Payroll Alliances Center (PAC) was established over 10 years ago to provide Hartford insureds with an automated payroll deduct Worker’s Compensation solution. Today, the PAC staff includes over 75 insurance professionals who write over $220 million in total written premium for nearly 69,000 insureds. PAC has developed an easy web interface that allows independent agents to provide the XactPAY Web® Worker’s Comp premium payment solution to companies that use QuickBooks® for their payroll. XactPAY Web® Special Edition for QuickBooks® is a unique solution made available through PAC only to The Hartford’s Independent Agency Partners at a password-protected web site.

Dwight Stuckey, president and CEO of Stuckey and Company, says insurance agents whose clients use XactPAY Web® benefit from increased revenue potential through the additional sales of this diversified product portfolio, and typically see improved customer retention rates. “The service and software are free of charge to agents and clients, and agents earn the standard agency commissions for any existing business they convert to new business they write through XactPAY Web®,” Stuckey says. “There is no downside to this – it’s a win-win for agents and insureds.”

Stuckey says insureds benefit from significantly-reduced down payments and better cash flow management, since they can pay in up to 52 annual installments with no billing fees. And, since each installment is directly tied to actual payroll reports, XactPAY Web® minimizes the potential impact of unexpected audit adjustments at the end of the year.

Stuckey says that for a Worker’s Comp policy with a $10,000 premium, a company using traditional Worker’s Comp payment methods would put down about 25% of the projected annual premium upfront, and usually spread the rest over nine or fewer installments (which might each carry additional installment fees or late payment charges). With XactPAY Web®, that same company would only pay about $600 for its first payroll run, then pay subsequent installments based on actual payroll figures rather than estimated figures. “With this cash management advantage, you can see why agents have high retention rates when their clients use XactPAY Web®,” Stuckey says.

Even accounting and bookkeeping professionals can benefit from referring their clients to XactPAY Web®, because The Hartford recognizes a network of “ProAdvisors” – CPAs, accountants or bookkeepers who promote or utilize QuickBooks® for their clients and serve as a center of influence for clients using QuickBooks® products. ProAdvisors who complete The Hartford’s Service and Marketing agreement and disclosure form are eligible for a $50 referral fee for each qualified lead that is converted to XactPAY Web®.
During the webinar, Hagy-Kelly will outline the simple steps that Licensed Agents can take to enroll their clients in XactPAY Web®. To participate in Stuckey & Company’s free interactive discussion about this valuable tool, insurance agents may visit the Stuckey & Company web site, click on the Webinars link and fill out the reservation form for the August 24 webinar.

About Stuckey and Company

Stuckey & Company is a specialty insurance provider based in Lake St. Louis, Missouri. For 20 years, Stuckey has offered commercial, professional and personal lines of insurance. Stuckey & Company’s network of more than 8,000 licensed agents has the knowledge and experience in dealing with specific coverage not typically covered under standard policies. As one of the fastest-growing specialty insurance providers in the U.S., Stuckey & Company offers E&O coverage to over 150 classes in sectors that include technology and IT consulting, accounting and financial services, government services, media, laboratories and education. Coverage limits are available for many risks up to $5 million. The company also offers a variety of standard policies. For information on any of the specialty insurance programs from Stuckey & Company, call 1-800-828-3452 and ask for Dwight Stuckey.

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Marny Bielefeldt
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