New York State Insurance Fund has implemented InsurePay, Patriot Technology Solutions, Inc.’s billing platform, to provide real-time payment processing for its workers' compensation customers, the company announced today.
The Patriot National subsidiary will enable NYSIF policyholders to pay premiums based on actual payroll rather than generated estimates, according to the companies. The cloud-based platform, will also reduce company operating costs for NYSIF by decreasing billing, collection and auditing expenses throughout the year.
"Growing adoption of InsurePay by leading workers' compensation insurers is indicative of the competitive advantage that our technology solutions provide to carriers," said Steven M. Mariano, CEO of Patriot National, in a statement.
NYSIF joins
