Pay as you go.
Premium finance is no longer seen as a last resort for the financially unsound. More customers are now opting to stagger payments, which could mean increased profits for brokers, says Shona Cronin.
The premium finance market has expanded rapidly in recent years andis currently valued at approximately 1.5bn. However, this is only the tip
of the iceberg says Edward Ferrell, vice president of Transamerica
Insurance Finance Company (TIFCO): "Many brokers do not realise the
advantages of premium finance and therefore do not market it pro-actively.
There is sufficient untapped business available to us to increase the
value of the market to as much as £6bn."
Nevertheless, premium finance has
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