{"id":48435,"date":"2019-05-29T06:00:36","date_gmt":"2019-05-29T10:00:36","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=48435"},"modified":"2019-05-29T14:54:43","modified_gmt":"2019-05-29T18:54:43","slug":"showbiz-shows-a-better-way-to-pay-insurance-industry-alert-issued-by-eranova-institute","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/showbiz-shows-a-better-way-to-pay-insurance-industry-alert-issued-by-eranova-institute\/","title":{"rendered":"Showbiz Shows a Better Way to Pay: Insurance Industry Alert Issued by EraNova Institute"},"content":{"rendered":"

LOS ANGELES, Calif. and MOUNTAIN LAKES, N.J., May 29, 2019 (SEND2PRESS NEWSWIRE) — Today the EraNova Institute issues a business alert: \u201cShowbiz shows a better way to pay<\/a>.”\u00a0EraNova\u2019s Director and author of the report, Dick Samson, says, “For non-employees in entertainment and insurance, getting the money due you has often been a chore. Now, for the likes of Tom Hanks and Lady Gaga, it\u2019s more of a breeze; and soon may be for everyone involved in insurance.\u201d<\/p>\n

\"Exactuals'
\n*PHOTO Caption: Exactuals CEO Mike Hurst, CTO Jason Hiller, and CFO Andrew Mauritzen.<\/em><\/small><\/p>\n

For decades complexity has been a sore spot in both industries, according to the alert. Then in 2011, Mike Hurst and Jason Hiller established Exactuals, LLC<\/a> in Los Angeles.<\/p>\n

Focusing initially on entertainment, their objectives were clear. \u201cWe wanted to get rid of the millions of tiny payment checks,\u201d says Hurst. \u201cSo we built a model to accomplish that and more, saving studios, unions and other entertainment entities a tremendous amount of time and money.”<\/p>\n

Hurst and Hiller also attacked the issue of fair compensation. \u201cMusicians and composers were losing about $2 billion per year in unpaid royalties,\u201d says Hurst. \u201cThis was due to irregularities such as confused coding embedded in digital media.\u201d<\/p>\n

Their solution was PaymentHub, an automated software-as-a-service (SaaS) platform. \u201cIt\u2019s designed to help large enterprises pay thousands of non-employees who are compensated through multiple means such as commissions, royalties, and residuals,\u201d says Hiller.<\/p>\n

Exactuals<\/a> soon acquired other technical assets such as R.AI (Royalty Artificial Intelligence), which uses machine learning to track songwriting information and rights.<\/p>\n

Then the company went through growth pains that can now profit the insurance industry:<\/p>\n