Somerset Bridge picks Premium Credit as premium finance provider

Insurance broker Somerset Bridge has selected Premium Credit as its new insurance premium finance provider in a multi-year deal.

As a result, the broker’s 300,000 existing premium finance customers will be transferred to Premium Credit’s offering as they renew.

Customers will be offered a premium finance payment option 100% of the time through a compliant, digitally led payments solution so they can conveniently spread the cost of insurance premiums into smaller, regular instalments.

Somerset Bridge’s staff will be supported by specialist training delivered by Premium Credit’s national partner learning and development team as part of the agreement.

Dave Taylor (pictured above), chief operating officer at Somerset Bridge Insurance Services, said they are delighted to have partnered with Premium Credit.

“We were cautious about moving our substantial premium finance book from our current provider. However, we made the leap with Premium Credit and have not looked back. The transfer was straightforward, and the guidance provided for our back book migration was second to none,” Taylor said.

“Premium Credit guided us in all aspects - from updating our procedures, engaging with our customers to performing the technical migration. We now have a partner with the technology and the team for us to develop a long-term strategy of mutual growth.”

Jon Howells (pictured below), chief commercial officer at Premium Credit, was pleased to have signed the new, multi-year contract with Somerset Bridge.

“Our commitment to market-leading innovation and ability to migrate large books of existing business were central to winning this deal, combined with our ongoing investment in cutting-edge payment technology and responsive relationship management,” Howells said.

“We are excited to be working with the Somerset Bridge team and are supremely confident that we will assist them in achieving their business growth and customer service ambitions.”