Is Your Brokerage a Good Candidate for a In House Premium Finance Program?
Interested in Pursuing the Path to Profit?
- Review your existing premium finance program with third party PF providers. Determine number of contracts and average premium size.
- Determine what opportunities exist for other brokerage business to be placed on an internal premium finance program.
- Multiply the anticipated business volume to be run through your in house PF program by 1/3 to determine the capital/credit facility required to support the in house PF effort.
- Register a trade name and set up bank account for your PF service.
- Broker Builder customizes system for your PF service.
- Communicate with staff the premium finance business plan.
- Staff training.
- Begin to offer premium finance loans to selected customers.