Premium finance: great in theory but will it take-off?
The month's Power Hour, in association with Groupama Insurances, focuses on premium finance as an add-on for brokers' business and discusses why, if it is such a good deal, are more brokers not using it? And is there a way to make it a more exciting prospect?
If premium finance is such a good 'add-on' for brokers' business, why aren't more brokers using it?
Shaun: It might be worth setting the context first. We've got a strong economy, relatively low interest rates, full employment and certainly more consumer awareness of the cost of finance. I would suggest that those factors are probably causing some consumers to look elsewhere, whether it's bank loans or credit cards. I suspect it's against that background that we have to measure whether premium
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