Eastern Alliance Insurance Group (EAIG), in partnership with AP Insurance, had introduced ParallelPay system in April 2009.
EAIG, a subsidiary of Eastern Insurance Holdings (EIHI), has declared that its pay-as-you-go program, ParallelPay, has reached the million dollar premium mark.
According to EAIG, ParallelPay provides policyholders with flexibility in reporting their payroll census information, which can be done through one of EAIG’s preferred payroll system providers, or electronically via the web-based ParallelPay system.
Michael Boguski, President and Chief Operating Officer of EIHI, said: “The ParallelPay program achieved the one million dollar premium mark within its first 60 days because employers are seeking innovative solutions to manage their cash flow in this economy.”
EAIG developed and introduced the ParallelPay system on April 7, 2009, through a partnership with AP Insurance, a nationwide program administrator and outsourced service provider located in Boston, Massachusetts.