Premium finance and the Uber model?
PremFina’s CEO Bundeep Singh Rangar discusses how brokers can maximize their profits by using new premium finance solutions.
One look at an insurance industry figures reveals a startling statistic. While insurance brokers sell £28 billion worth of insurance policies each year, only about a fifth of these are sold via financing agreements, which make it convenient for customers to pay via monthly instalments.
Why are only £6 billion of the £28 billion sales of insurance premiums done via financing? After all, financing allows customers to spread the cost across the term of a policy rather than pay all of it upfront
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