Intuit (INTU +0.1%) is acquiring Prestwick Services, provider of a workers compensation platform for small businesses that, according to Intuit, provides more accurate insurance premium calculations and eliminates large up-front prepayments.
Whereas traditional workers comp. solutions rely on prepayments based on estimates, Prestwick's Trupay offering calculates payments in real-team, and adjusts them as employee changes take place.
Intuit plans to offer Prestick's solution to its 1M Payroll service customers. The company will be added to Intuit's Employee Management Solutions unit.