’Premium finance is a vital product which opens access to insurance for many who don’t necessarily have the funds to pay upfront,’ says chief executive
Broker trade body Biba has renewed its agreement with Premium Credit to provide a premium finance facility to its members.
The facility offers Biba members a means of providing their customers, both personal and commercial, the opportunity to spread the cost of their insurance premiums.
This premium finance option, which has been available to brokers for over 20 years, also allows members to use digital propositions that fully integrate finance within the broker customer journey.
Graeme Trudgill, Biba’s chief executive, said: “Premium finance is a vital product which opens access to insurance for many who don’t necessarily have the funds to pay upfront for their annual insurance premiums and want to spread the cost.
“I was pleased to start this facility more than 20 years ago and it’s now one of our longest standing facilities and popular with hundreds of Biba members.”
Owen Thomas, chief sales officer at Premium Credit, added: “Brokers’ personal and business customers need payment options that lessen the impact of a single payment on cash flow.
“This is particularly crucial in the current economic environment. We provide this facility to our partners with unparalleled support through our extensive market knowledge, cutting-edge technology and CPD-accredited training. The entire team is thrilled to be partnering further with Biba members.”
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