Premium Credit and has been serving members of BIBA since 2005 and the parties have extended the partnership to work together for further five years


BIBA renews partnership with Premium Credit. (Credit: Gerd Altmann from Pixabay.)

The British Insurance Brokers’ Association (BIBA) has renewed its agreement with Premium Credit as the premium finance facility provider for its nearly 2,000 members.

Premium Credit has been serving the members of BIBA since 2005 and both the parties have extended the partnership to work together for a further five years.

Premium Credit chief sales officer Owen Thomas said: “We are delighted to renew our partnership with BIBA, and to provide members access to a market-leading premium finance option.

“This is especially important in the current climate, as personal and commercial customers require payment options that mitigate the impact of a single payment on cashflow.

“Our unrivalled support for our partners includes deep market expertise, the use of leading-edge technology and the CPD accredited training. The whole team are excited to be working with existing and new BIBA members going forward.”

BIBA members can also benefit from advanced digital solutions from Premium Credit

The partnership will provide BIBA members with a means of providing their customers, both personal and commercial, the opportunity to affordably distribute the cost of their insurance premiums.

The partnership enables brokers to provide credit to their customers, turn a pre-paid expense into working capital when cash flow is critical and helps BIBA members to grow their business.

BIBA said that its members can also benefit from advanced digital solutions that integrate finance within the broker customer relation and a broker portal eases administration and ensures a compliant offer to their customers.

BIBA CEO Steve White said: “Our members really value this facility. Our two organisations share a lot of values and we like members are delighted to be able to continue with the facility.”

BIBA executive director Graeme Trudgill said: “There has never been a more important time for brokers to have the option to offer clients instalment facilities. That is why we are particularly happy to renew this long-term relationship with our trusted partners at Premium Credit.”