BSIG’s SmartPay– the More Convenient Way to Pay Your Workers’ Compensation Premium

Berkley Southeast has partnered with SmartPay Solutions, LLC who administers the BSIG SmartPay program.  If you would like more information about this billing option, please contact your agent.

What is SmartPay from BSIG?

It’s an automated pay-as-you-go payment solution that calculates Workers’ Compensation policy premiums based on payroll exposures.

BSIG SmartPay is our new, secure web service that allows you to pay your Workers’ Compensation premium based on your payroll cycle and actual payroll, so your premiums paid are more accurate and reflect your business activity.

SmartPay is a flexible payroll process. Integrate your actual payroll exposures with your existing payroll process and calculate your premium with ease.

SmartPay is simple, secure, and streamlined. Premiums are automatically calculated and withdrawn from your account using Automated Clearing House (ACH) transactions.

If payroll and classification information is submitted correctly at the end of the term, premium audit adjustments are typically minimal. Please note that premium audits are completed at the end of each policy year, so it is possible to have an additional premium due on the BSIG SmartPay billing plan.


FAQs

Is BSIG SmartPay® the right solution for my business?

Businesses with fluctuating and/or large payrolls may experience the most benefit from SmartPay. Those with smaller, more consistent payrolls may prefer traditional installment plans.

Is a policy down payment required?

No, you are not required to make a policy down payment or pay installment fees.

What are the benefits of BSIG’s SmartPay?

Cash Flow Management — SmartPay customers eliminate the need for large deposits and prepayments.

No Premium Audit Surprises — Final premium audits should only reflect minor premium variances if payroll and classification information is submitted correctly at the end of the term.

Flexible Payroll Reporting — SmartPay offers a variety of ways to report payroll exposures. BSIG works with you to use the best reporting solution.

Automated Payment Transaction Processing — premium payments are made in the correct amount and on time, directly from your bank account via safe and secure ACH transaction processing.

Which Policies are Eligible for BSIG SmartPay?

Only Workers’ Compensation policies are eligible for this billing option.

Do I need to use a payroll company?

No, you report payroll using a format convenient to you, whether it is an accountant or payroll company, to file your payroll information.

Is a final audit still required?

Yes, final audits are still required to ensure payroll infor­mation was accurately reported and all employees were correctly classified. Although, final premium audits should only reflect minor premium variances.

Will I be billed for flat or up-front charges?

Amounts due for expense constants and other fees will be added to the premium payment due with the initial payroll data filing. These amounts will be automatically deducted from your account along with your premium payment.

What happens if payroll information is not reported?

If you don’t report your payroll data by the payroll submis­sion cut-off date, we will send an e-mail reminder. A BSIG SmartPay administrator will make every attempt to contact you regarding the late payroll data submission.


What To Expect

  • We will assist you throughout the enrollment process to ensure the SmartPay program fits your needs.
  • We will work with your payroll representatives to establish a streamlined workflow of pay­roll information and ACH payment options.
  • We will notify your representative if we identify issues related to the correct processing of your SmartPay transactions.

Contact Us

For additional information please contact your agent, or

Call or email the BSIG SmartPay Administrator

800-283-1153 ext. 2855145

SmartPay@wrbmag.com