Hourly.io, a startup that is committed to fixing workers' comp for businesses with hourly and mobile workers, has teamed up with insurance and financial services provider Nationwide to expand its workers’ comp and payroll service.
“We’re thrilled to announce our partnership with Nationwide as the next step in Hourly’s growth strategy,” said Hourly Co-founder and CEO Tom Sagi. “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’ comp premiums—information they can use to bid more accurately on projects and manage their expenses to the penny.”
Details of the partnership include:
- In this alliance, Hourly will serve as a managing general underwriter (MGU) underwriting skilled trade businesses with mobile and hourly workers using technology and millions of real-time data points from the Hourly platform.
- While most insurers underwrite workers’ comp based on data that is 12-18 months old, Hourly’s use of big data gives business owners an alternative high-quality insurance partner, fairer and more accurate pricing, with personalized customer service.
- Businesses that will most benefit from using Hourly include construction, contracted services, transportation and trucking, foodservice, and retail stores among others.
- Through Nationwide, Hourly’s platform and advanced underwriting model will help Hourly’s network of more than 3,000 appointed independent insurance producers expand their client base, retain more of those clients, generate more revenue, and stand out from competitors.
Established in 2018, Hourly offers workers’ comp insurance and an integrated platform that connects workers’ comp, time tracking and payroll in real-time—an innovation that ensures premiums are calculated with unprecedented precision. Hourly is first of its kind in the industry to bridge this gap seamlessly with a mobile-first platform.
Hourly is appointing select insurance agents across the nation.