Cost Savings is one of the main benefits of implementing a Wrap Up. In order to make more money, companies must be creative and find ways to cut project costs. Typically, you don’t want to cut cost in key areas like hiring quality contractors to perform the work or using quality materials to build the project. So, what better way to save than cutting the cost of insurance?
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Just over 10 years ago, Wrap-Up Administration was managed by using paper forms submitted via fax and enrollments tracked via simple excel spreadsheets. Administrators were manually creating weekly reports, and companies were hiring entry-level personnel or third-party administrators for routine data entry. This left a great margin for error.
