LONDON, May 8, 2018 /PRNewswire/ --
PremFina (the "Company") is proud to announce the recent go-live of insurance brokers: Reactive Insurance, Larsen Howie, The Auto Group (TAG), and Motor Products Online (MPO), amongst 20 brokers that signed on to PremFina's financing or software platform in the first quarter of 2018.
The new brokers represent significant traction for PremFina, the newest entrant in the 30-year-old UK premium finance market. It has already captured 6% of the top 50 UK brokers with its award winning software and market competitive funding.
The Company's tailored, flexible financing solutions, broker branded software and documentation, together with dedicated broker support - dubbed the 'PremFina Trifecta' - has caught the interest of brokers looking to make a change in their existing business models. Some brokers choose to use PremFina's Software-as-a-Service (SaaS) only and deploy their own funds instead to finance customer credit agreements.
"It's premium finance designed with the broker in mind," said Mia Constable, Head of Sales at PremFina. "At PremFina, we put our brokers first and in doing so, have received a great response from the broker community."
In an industry that is becoming increasingly customer-centric, PremFina tailors to brokers needs, as well as their customers. The uptake of PremFina's offering by the UK broker community is proof there is demand for such flexibility in the industry. PremFina is proving itself to be an innovator within the UK premium finance industry.
"It has been an incredible journey for us," said PremFina's Managing Director, Mark Foley. "We are looking forward to a very exciting year ahead."
PremFina entered the UK premium finance with a better model for insurance brokers to serve their customers needs. It received £27 million in equity and debt financing in 2017 from six of the world's top fintech investors from Toronto to Tokyo.
PremFina will be present at the British Insurance Broker Association's (BIBA) flagship event in Manchester, May 16 and 17, where it will demo its industry leading software. It will also discuss the possible impact of BlockChain technologies on the insurance industry in a dedicated fringe session.
To learn more about PremFina, come visit stand D77 or register for the Company's fringe session. Send an e-mail to Natalia.Zurowski@premfina.com to secure your place today!
PremFina Ltd is a UK-based premium finance company that promotes financial inclusion by enabling the payment of insurance premiums via instalments. It supplies insurance brokers with funding lines and also enables broker-funded and branded credit agreements via its Software-as-a-Service (SaaS) affiliate IXL PremFina Ltd. With PremFina, brokers receive higher profit, greater autonomy and the opportunity to increase the lifetime value of their customers as well as cross-sell and up-sell additional products. PremFina's shareholders include global investors Rakuten Capital, Draper Esprit Plc, Thomvest Ventures, Emery Capital, Rubicon Venture Capital, Talis Capital and the company's founder.
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SOURCE PremFina Limited