Somerset Bridge chooses Premium Credit
Somerset Bridge, the UK Top Twenty insurance broker, has selected Premium Credit as its new, insurance premium finance provider in a multi-year deal. The broker’s 300,000 existing premium finance customers will be transferred to Premium Credit’s multi-award winning offering as they renew.
Customers will be offered a premium finance payment option 100% of the time through a compliant, digitally-led payments solution so they can conveniently spread the cost of insurance premiums into smaller, regular instalments.
Somerset Bridge’s staff will be supported by specialist training delivered by Premium Credit’s National Partner Learning & Development Team as part of the agreement.
Dave Taylor, Chief Operating Officer, Somerset Bridge Insurance Services said: “We are delighted to have partnered with Premium Credit. We were cautious about moving our substantial premium finance book from our current provider, however, we made the leap with Premium Credit and have not looked back. The transfer was straight forward and the guidance provided for our back book migration was second to none.”
Mr Taylor added “Premium Credit guided us in all aspects from updating our procedures, engaging with our customers to performing the technical migration. We now have a partner with the technology and the team for us to develop a long-term strategy of mutual growth.”
Jon Howells, Chief Commercial Officer, Premium Credit comments: “We are extremely pleased to have signed this new, multi-year contract with Somerset Bridge- a leading UK insurance broker. Our commitment to market-leading innovation and ability to migrate large books of existing business were central to winning this deal, combined with our ongoing investment in cutting-edge payment technology and responsive relationship management. We are excited to be working with the Somerset Bridge team and are supremely confident that we will assist them in achieving their business growth and customer service ambitions.”
Authored by Premium Credit
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.