Below is our recent interview with Kara Parker, CEO and Founder of PEO SCORE:
Q: Kara, can you provide our readers with a brief introduction to PEO SCORE?
A: PEO SCORE is California start-up that launched on February 1st of this year. Our Innovation Team created a web-based platform connecting employers and insurance brokers to professional employer organizations (PEOs) across the country at no cost or obligation. The Team also developed a proprietary algorithm that scores the employer.
Our national PEO marketplace is transforming the PEO connection process. We provide employers, either directly or through an insurance broker, free online access to competitive PEO proposals, while also driving visibility and market growth for our PEOs. Everything you need is automated inside your private profile.
Q: Can you walk us through the PEO SCORE process? How exactly does it work?
A: The process is simple. It is 100% online…no calls, no meetings and no paperwork are required.
For employers and insurance brokers, all services are 100% FREE. For brokers, commissions are paid by the PEOs and are disclosed upfront.
– Apply. Create a private profile and apply online. Inside the insurance broker profile, we provide a client tracking service.
– Score. Immediately receive a PEO SCORE REPORT, which will be delivered to all PEOs in our database that are qualified in the states the employer does business. The report includes a SCORE for the employer derived from a proprietary algorithm we developed. The SCORE provides an online solution for PEOs to qualify employers and for employers to find the PEO that best fits its needs.
– Connect. Quickly receive proposals in one comparative and comprehensive report. Select a proposal and directly connect with a PEO.
For PEOs, once approved to be included in our database, you will receive leads to employers at no cost or obligation. Proposals are conveniently submitted online and all PEO profiles include a lead, proposal and connection tracking service. PEOs do not pay a fee until our lead becomes their client.
Q: What are the benefits of connecting with a PEO?
A: For small to mid-size businesses, there are a number of compelling reasons to work with a PEO. In short, PEOs help businesses get back to the business of increasing profitability and productivity by:
– Alleviating HR and payroll administrative overload: PEOs allow for more time to grow a business and less time processing payroll and employee paperwork.
– Providing excellent employee benefits at a reduced cost: PEOs provide access to affordable, comprehensive benefits for employees that small to mid-size businesses couldn’t get independently.
– Easily staying in compliance with government regulations: PEOs offer specialists who will monitor ever-changing regulations and help employers maintain compliance.
Q: Why is now the time for a technology solution like PEO SCORE?
A: Prior to PEO SCORE’s launch, a 100% online PEO connection process did not exist. Our innovative technology is closing the gap between employers, insurance brokers and PEOs through automation and offers a unique online solution for employers and insurance brokers to compare PEOs and easily access competitive proposals. Our proprietary algorithm scores the employer for the PEO which saves everyone time and money. Small to mid-size business owners, insurance brokers and PEOs now have an efficient way to make quality connections.
Q: What are your plans for the future?
A: When we started PEO SCORE just a few short months ago, we were not sure what to expect – but knew there was a need and audience for our online platform. And the last few months have far exceeded our expectations.
In just one month prior to our launch, we were able to build a national database of reputable PEOs which continues to grow. Since our launch in February, we have received application submissions from both employers, directly and through insurance brokers. Our idea is quickly becoming a proven concept. The PEO and insurance industries are embracing our business model. We are excited about our early successes and our Innovation Team continues to develop new ideas to make the PEO connection process as it should be- easy, automated and cost effective.