Real-time data-driven underwriting for businesses with hourly workers

Businesses with hourly and mobile workforces are more unpredictable than most, making them particularly tough to properly insure.  

“Employees are moving from one job site to another, and the companies are bringing on an influx of new projects. These changes are not always conveyed to insurers right away, so the carrier bases their coverages on older data that is available,” said Dale Hoppe, Nationwide’s Vice President who leads the company’s E&S/Specialty WC program division.  

Nationwide’s new partnership with Hourly will help remove these barriers, saving businesses time and money while maintaining their coverage.  

Underwriting policies using real-time tech  

Most insurers underwrite a workers’ comp policy based on data from the business—in some cases it can be more than a year old.  

Hourly’s integrated mobile platform connects workers’ comp, time tracking, and payroll in real-time. Collecting data points like when a worker is clocking in or out, at any location, how much they are getting paid, whether a workforce is growing or shrinking, and if any accidents have happened.  

The Hourly platform then uses the business’ data to adjust the company’s insurance premium based on the company’s evolving needs. Nationwide will insure those workers’ comp policies and review any claims. Businesses that will benefit most include construction, contracted services, transportation and trucking, foodservice, skilled trades, and retail stores.  

“By making underwriting decisions based on real-time data, we are stepping into the future of workers' comp insurance,” said Tom Sagi, Co-founder & CEO of Hourly. “Nationwide is the ideal strategic partner for this program as they share our vision for using technology to empower businesses, especially those with hourly workers, to manage their workers' comp premiums in a more transparent, fair and efficient way.”  

Proactively helping businesses with workers’ comp  

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, keep more of those clients, generate more revenue, and stand out from competitors.  

For more information, visit www.hourly.io/agencies