Premium finance firm extends training for brokers

Close Brothers Premium Finance has extended the range of training it provides for brokers to include the offering of finance options to customers in addition to ongoing but enhanced bespoke product and system training sessions.

The premium finance firm has also increased the number of dedicated trainers it employs to seven from just two in 2012.

Training can be provided via Web-ex, where multiple branches can attend one session, face-to-face or online for up to 24 people, though plans are also in place to enhance the online proposition so that 100 people can be trained online.

The move comes following research from Close Brothers Premium Finance that reveals 39% of brokers said they wanted insurers and product providers to provide greater access to training initiatives.

Close Brothers Premium Finance managing director Janet Wilson said: “The benefits of premium finance are well known, but in the current economic environment the product looks even more attractive.  The premium finance market is already big, but our research shows that 27% of SMEs who have never used it would consider paying for their insurance this way in the future and 41% are undecided. 

“This shows the huge potential for the market and to help realise this, providers need to ensure that they are supporting brokers properly.  This is a key reason why we have enhanced our training support programme, and we believe it is market leading.”