Coverdash Partners with 7shifts for Innovative Workers' Compensation Solution

Coverdash's latest collaboration with 7shifts marks a transformative step in adapting insurance solutions to the evolving needs of the restaurant industry through an innovative pay-as-you-go workers' compensation model integrated via 7shifts Payroll.

Coverdash, renowned for its embedded insurance solutions, has strategically partnered with 7shifts, a leading HR platform dedicated to restaurants, to create a system where insurance premiums align directly with actual payroll data. This partnership allows restaurant operators to dynamically adjust insurance costs in tandem with their payroll, addressing the common challenge of fluctuating labor costs due to hourly staffing, seasonal work, and turnover rates.

The innovative model circumvents traditional methods that rely heavily on projected annual payroll estimates, which can lead to hefty upfront costs and often necessitate tedious adjustments during yearly audits. By leveraging real-time data, the partnership offers restaurant operators enhanced accuracy in premium payments, ensuring that insurance costs are a true reflection of wage expenditures at any given time.

Enhancing Operational Efficiency

This move aligns with Coverdash’s broader strategy to integrate commercial insurance into existing business software platforms. The restaurant industry, with its fluid staffing needs, stands to benefit significantly from such tailored solutions. By embedding its technology into the customer workflows of its partners, Coverdash simplifies the insurance acquisition process, allowing business owners to explore, purchase, and manage their insurance needs seamlessly.

According to Bobby Jones, head of partnerships at Coverdash, “Restaurant payroll can vary greatly throughout the year. Traditionally, workers’ compensation has been structured around a static annual estimate. Linking this insurance directly to 7shifts Payroll simplifies the process of obtaining coverage and ensures premiums are more accurately aligned with actual payroll figures.”

Simplifying HR and Insurance Integration

Beyond insurance, 7shifts provides a comprehensive suite of HR tools, including recruiting, onboarding, training, attendance management, and payroll processing. It also integrates in real time with point-of-sale systems, serving over 55,000 restaurants and 1.5 million professionals. This makes the addition of a tailored workers' compensation solution a logical progression, providing restaurant managers with a holistic, streamlined management platform.

"Restaurant operators already rely on 7shifts to oversee their HR workflow and payroll. Integrating Workers’ Compensation into this process is a logical extension, offering operators a straightforward and adaptable approach to managing their coverage as business conditions fluctuate."

— Jordan Boesch, CEO of 7shifts

Key Benefits of the Pay-As-You-Go Model

• Premiums tied directly to actual payroll, enhancing accuracy.
• Reduced upfront costs and minimized annual audit adjustments.
• Flexibility to accommodate seasonal or fluctuating staffing needs.
• Seamless integration with existing HR and payroll systems.

This pioneering partnership between Coverdash and 7shifts exemplifies a forward-thinking approach to insurance solutions, setting a new standard for industry-specific risk management that emphasizes efficiency, adaptability, and alignment with real-world business dynamics.