Key Risk, a provider of workers compensation insurance products and services for employers throughout the Eastern US and member of WR Berkley Corporation, has introduced a new PremiumSync, an automated payment solution.

According to the Key Risk, the PremiumSync is designed to calculate workers compensation premium against the actual payroll reported by an employer.

The solution offers Key Risk policyholders the benefits of improved cash flow management, a streamlined audit process and the convenience of making premium payments automatically and over time.

Key Risk president Rob Standen said PremiumSync was developed to provide policyholders with a simplified option for administering their workers compensation program.

"By using an automated payment solution, employers will be able to make premium payments at the same time that they pay their employees. With this payment option their premium is calculated in real-time against their actual payroll," Standen said.

"We realize the importance of technology and continuously enhance our service platforms to support the needs of today’s highly automated marketplace. We are excited to offer PremiumSync to policyholders as a resource and additional payment option.

PremiumSync is available online via MasterKey Connect, a proprietary risk information platform provided by Key Risk.