What Is a PEO Broker?

A PEO broker is a professional who assists employers in finding an outsourcing partner for their HR function. They work directly with insurance agents and Professional Employer Organizations to identify and vet PEO options in the market, and to help insurance agents match their clients with the right PEO for their needs. PEO brokers are in high demand due to the rapidly growing PEO industry. They can help employers of all sizes and in a wide variety of industries understand the pros and cons of each offer and ensure they have the right coverage for their business.

What Does a PEO Broker Do?

A PEO broker serves as the mediator between the insurance agent and the PEO before an agreement is reached. Once the match is finalized, the PEO Broker’s work is done.

As an insurance agent, you might consider a PEO for a client who needs help with:

Workers’ Compensation

Payroll

Tax Payment Liabilities

Human Resources

These are all critical services involving very detailed processes. PEOs are knowledgeable in these areas and available to companies who would rather leave these details up to the experts.

Why Use a PEO Broker?

According to the National Association of Professional Employer Organizations, companies who use a PEO are 50% less likely to go out of business and more likely to double their revenue.

With this in mind, many insurance agents are opting to partner with a PEO to provide their clients with worker’s comp coverage. For insurance agents, vetting the PEOs can be a lot of extra work and oftentimes deters agents from partnering with a PEO.

When using a PEO broker, they handle all the in-between on behalf of the insurance agent and PEO. A PEO broker has a vested interest in finding the right fit for each agent and each PEO.

Do you have additional questions about PEO and PEO brokers? Visit our FAQ to learn more.

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