About Premium Credit
Premium Credit is the leading provider of premium finance in the UK and Ireland, and the only company endorsed by the British Insurance Brokers’ Association.
Premium Credit is authorised and regulated by the Financial Conduct Authority, and work with over 3,000 producers of all sizes. They serve over 2.2 million customers, process 26 million direct debits and receive advances of £3.4 billion.
For 30 years, Premium Credit has led the market through thought leadership, innovation and technology and have helped their partners offer finance compliantly to their customer through face-to-face, telephony and online channels.
Premium Credit continue to invest to ensure we provide a quality service and support that helps companies grow their business and commission. From the delivery of seamless customer journey, which includes real time decisioning for financing and 24/7 account servicing, to consultation that improves the offer of finance to customers, Premium Credit are committed to growing the premium finance market.
Their Specialist Lending division also provides finance to pay other annual costs, such as professional fees, membership subscriptions, commercial service charges, golf clubs and school fees.
New online motor insurance provider Hedgehog selects Premium Credit
Hedgehog, the new online motor insurance provider, has teamed up with Premium Credit, the UK and Ireland's number 1 supplier of premium finance.
Premium Credit will offer market leading premium finance options to thousands of anticipated customers in Hedgehog's first year of business. The new entrant is offering motor insurance products aimed at drivers who face higher than average premiums for reasons such as holding points on their licence, a driving conviction or being declined by certain insurers because of their postcode.
In its search for a premium finance provider, Hedgehog looked for a supplier that shared an absolute commitment to creating the smoothest customer journey possible. The partnership with Premium Credit has resulted in a seamless online experience with the whole purchasing process of motor insurance, with a range of payment options including premium finance, being achieved in just one transaction and without the customer being directed to another site.
Powered by its own cloud-based software platform, Hedgehog's proprietary pricing engine will create a quote from scratch in real-time, combining several sources of external data with cover being offered initially through an exclusive agreement with an aggregator, Confused. Those taking motor cover and wishing to finance their premium payments can sign credit agreements electronically, 24/7, anytime, anywhere from either mobile or desktop devices.
Pete Storey, Founder and CEO of Hedgehog said: "Our online user experience aims to be second to none for simplicity and convenience. Through early collaboration with our e-commerce team, Premium, Credit has arrived at the exact, seamless electronic integration we wanted for our customers. this combined with competitive pricing, great customer service and a willingness to listen to exactly what we wanted, sealed the deal."
Storey added: "We are excited in relation to this new opportunity and are recruiting in earnest to meet anticipated demand for Hedgehog's services."
Tom Woolgrove, Premium Credit's Chief Executive Officer commented: "We are delighted to be selected by Hedgehog. Our continuous investment in technology has allowed us to develop cutting edge, digitally led insurance payment solutions which we are confident will assist them in their business growth ambitions."
‘We are delighted to be selected by Hedgehog. Our continuous investment in technology has allowed us to develop cutting edge, digitally led insurance payment solutions which we are confident will assist them in their business growth ambitions.’ Tom Woolgrove, Chief Executive Officer, Premium Credit
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