Small change?
Outsourcing business to a third party is slowly becoming a more familiar feature of the premium finance market. Steve Banner looks at how brokers can take advantage of this trend.
A growing number of insurers are thinking about outsourcing some, orall, their premium finance business to third party specialists if they
have not already done so.
Tony Worthy, managing director of Singer & Friedlander Insurance Finance,
says: "There is a definite move in this direction, although as yet it has
not gained a great deal of momentum."
Independent, for example, placed its entire account in the hands of
Premium Credit two years ago. Premium Credit also handles finance
involving three
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