RAC signs deal with Premium Credit
Customers able to spread the cost of insurance cover with new supplier
Premium Credit has been selected by the RAC, following a recommendation from Europa Group, to become its new provider of premium finance in the Telematics (Black Box); Van and Home insurance categories. New customers can spread the cost of insurance cover over convenient monthly instalments, rather than having to pay in one annual lump sum, by using Premium Credit’s award winning* finance facility. Customers can access the payment service through the RAC’s online portal or through one of the comparison sites.
Marcus Latchford, head of RAC Insurance, comments: “As a leading motoring organisation, the RAC has been at the forefront of developing motoring solutions and a range of complementary services for over 120 years. Providing payment options for customers to pay for insurance cover in monthly instalments is part of this offering. We’re delighted to be partnering with Premium Credit, a market leader in this space. Their technology integrates fully into our own journey ensuring a seamless experience for our customers.”
Latchford continues: “The ability to offer premium finance options consistently, simply and compliantly to our customers through a reliable partner was central to our decision to select Premium Credit.”
Andy Powell, Chief Executive, Europa Group Ltd said: “As the RAC’s chosen administrative partner for the Telematics, Van and Home products, we were delighted to introduce the RAC to our preferred premium finance provider Premium Credit who we have partnered with for over 20 years. We are confident they will bring the support for the programme that the RAC desire.”
Owen Thomas, Premium Credit’s Chief Sales & Marketing Officer added: “We are extremely pleased to have been recommended by the Europa team and then subsequently chosen by the RAC to provide premium finance to their customers. Our compliant solution, built on leading technology and robust operational processes provides flexibility and convenience. They have entrusted us to be their partner, to deliver to the expectations of the RAC and their customers in a high volume, personal lines market.
We’re also able to give their team the visibility they need, from risk selection and pricing, through to account performance enabling them greater control over their business performance. Our strategic investment enables Premium Credit to seamlessly support the RAC brand and deliver against their standards through our state of the art, digitally led, finance facility. We look forward to the partnership continuing for many years to come.”
Authored by Premium Credit
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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.