Change up

Jeff Harris has spent nearly a decade and more than $5 million attempting to wedge a bit of fresh technology into the insurance industry.

Harris believes 2015 will be the year the investment will come to fruition. “We are sitting on something that's the coolest product on the market,” says Harris, president and founder of Sarasota-based Insurelinx. “We believe this will change the industry and be a paradigm shift.”

The product is InsurePay. It's a software product that allows a business owner to pay workers' compensation insurance fees in a “pay-as-you-go” method. The traditional way is to pay workers' comp insurance fees in advance, which are then recalculated by an insurance provider after the policy period, based on changes to the payroll. That old method, says Harris, is inefficient, slow and, most importantly, costs the customer more, especially at the end of the policy.