Hourly.io, a workers’ compensation and payroll insurtech, has extended its partnership with Great American Insurance Group to reach out to small businesses across the US.
As part of the collaboration, Hourly will function as a managing general agent (MGA).
The tie-up will combine Hourly’s underwriting abilities and workers’ compensation and payroll technology with Great American’s credibility to address the various needs of clients.
The US-based startup provides small and medium-sized business owners with a full-service platform that links workers’ compensation, time tracking and payroll in real-time.
This in turn will enable precise calculation of workers’ compensation premiums.
Hourly co-founder and CEO Tom Sagi said: “Collaborating with Great American Insurance Group was the clear choice when deciding how we will expand and develop new business in our next phase of growth.
“Great American is the perfect match for Hourly’s next stage of evolution. We’re excited to align with them and help small businesses gain better insights into their exact labour costs and provide them with better tools to manage those costs, including workers’ comp premiums.”
The Great American Insurance Group mainly caters to property and casualty insurance markets with its specialty commercial products.
Great American Alternative Markets divisional president Richard Suter said: “Both Hourly and Great American Insurance Group share the same commitment to helping these businesses protect their employees.
“We are impressed with the cutting-edge technology Hourly will bring to Great American and the team’s first-rate underwriting abilities.”
Hourly chief revenue officer Teh Chen said: “Our expanded collaboration with Great American are big steps in making insurance more accessible and affordable for businesses across the country.”