LONDON, July 25, 2018 /PRNewswire/ --
Homelyfe, the InsurTech start-up and recent winner in the 2018 Top 100 Start-ups Index, has selected market leader Premium Credit as its premium finance supplier. The partnership allows Homelyfe's customers to quickly and efficiently acquire home insurance cover with the option to pay in instalments, all at the point of sale, through a collective use of ground-breaking technology and digital integration.
Homelyfe's digital offering enables customers to get an estimated insurance quote in seconds. The unique, digitally led premium finance option provided by Premium Credit presents Homelyfe customers with payment options to seamlessly complete the customer quote and buy journey.
Both businesses recognise that meeting the demands of consumers in today's digital age is paramount. This new partnership achieves this by combining their technologies to transform buying insurance cover into a fast and convenient experience.
Customer journey enhanced through innovation
Homelyfe's technology provides a new dimension to the way insurance is purchased. Uniquely, their AI-driven quote flow leverages first and third party data to pre-populate information the customer may not have to hand. This reduces the number of questions the customer needs to answer, dramatically speeding up their application.
The payment process is then picked up by Premium Credit's integrated technology which enables the setup of a premium finance agreement from within the app and entirely at the point of sale using their 'Fully Integrated Transaction System' (FITS).
Peter Goodman, CEO and co-founder at Homelyfe said: "We have great ambition to grow and evolve our business by partnering with other brands who can leverage our whitelabel solution and platform. Our technology has been so well received in the direct consumer space, we now want to enable other businesses to digitally transform their insurance offerings. Premium Credit's technology led premium finance offering helps facilitate this growth process by giving our customers a great option to spread the cost of their insurance cover. We share a similar desire to make the customer journey as frictionless and efficient as possible using the latest technology."
Simon Moran, Chief Sales and Marketing Officer at Premium Credit added: "We are delighted to be Homelyfe's chosen premium finance provider. It's important for us to support insurance providers and their networks across the whole spectrum whether new entrants or established players. We have a continuing appetite to innovate, regularly introducing new releases to the market ensuring we future proof our technology and provide the best premium finance options possible."
Homelyfe offers digital insurance solutions to direct consumers and has now evolved to offer B2B whitelabel and platform solutions to partner businesses. Homelyfe's API-driven approach means that enterprise businesses can digitally transform their insurance offering at start-up speed, for minimal cost. Homelyfe was launched in 2015 and was recently selected as one of the 2018 Top 100 Start-ups Index; the "UK's best and brightest start-ups set for big things this year."
About Premium Credit Limited
Premium Credit is the No. 1 insurance premium finance company in the UK and Ireland. We also provide the finance to pay annual fees such as accountancy and school fees. We support over 3000 intermediaries in our chosen markets and help over 2.2 million customers, processing more than 26 million Direct Debits annually and achieve net advances of £3.4 billion.
SOURCE Premium Credit