Premium Credit and BIBA renew their premium finance partnership
The British Insurance Brokers’ Association (BIBA) has re-appointed Premium Credit Limited as the premium finance facility provider for its nearly 2,000 members.
Premium Credit has been the only accredited provider since 2005 and it’s a testament to the success of the partnership that both parties have agreed to work together for a further five years.
The facility offers BIBA members a means of providing their customers, both personal and commercial, the opportunity to affordably spread the cost of their insurance premiums.
For brokers, providing credit to their customers turns a pre-paid expense into working capital at a time when cash flow is critical and can help BIBA members to grow their business.
Alongside partnering with a highly reputable and successful credit provider, BIBA members can also benefit from innovative digital solutions that fully integrate finance within the broker customer journey and a broker portal, to ease administration and ensure a compliant offer to their customers.
Owen Thomas, Chief Sales Officer of Premium Credit said: “We are delighted to renew our partnership with BIBA, and to provide members access to a market leading premium finance option. This is especially important in the current climate, as personal and commercial customers require payment options that mitigate the impact of a single payment on cashflow. Our unrivalled support for our partners includes deep market expertise, the use of leading-edge technology and the CPD accredited training. The whole team are excited to be working with existing and new BIBA members going forward.”
Steve White BIBA CEO added: “Our members really value this facility. Our two organisations share a lot of values and we like members are delighted to be able to continue with the facility.”
Graeme Trudgill, BIBA’s Executive Director concluded: “There has never been a more important time for brokers to have the option to offer clients instalment facilities. That is why we are particularly happy to renew this long-term relationship with our trusted partners at Premium Credit.”
Authored by Premium Credit Limited
About Premium Credit
We are the leading provider of premium finance in the UK and Ireland, and the only company endorsed by BIBA.
We are authorised and regulated by the Financial Conduct Authority, and work with over 3,000 producers of all sizes. We serve over 2.1 million customers, process 24 million direct debits and receive advances of £3.5 billion.
For over 30 years, we’ve led the market through thought leadership, innovation and technology and have helped our partners offer finance compliantly to their customers through face-to-face, telephony and online channels.
We continue to invest to ensure we provide a quality service and support that helps you grow your business and commission. From the delivery of a 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, we are committed to growing the premium finance market.
Our 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.