Small change?
E-business, new market players and outsourcing initiatives look set to transform the face of the premium finance sector for good. But some things never change and maintaining broker loyalty remains at the core of a provider's success.
The premium finance market is about to change substantially,according to Bob Golden, chief executive of Close Brothers' subsidiary
Prompt. "For one thing, insurance companies that have been financing their
premium instalment plans from their own resources are looking to outsource
those facilities."
He reports that Prompt has won contracts from three insurers - although he
is keeping a lid on the identity of the companies for the time being - and
that other contracts are being negotiated.
Tony
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