Broker Builder assists Insurance Brokerages in establishing an in house premium finance service.
Helps brokerages identify profit potential and develop business plans.
Assists in determining capital requirements and facilitates access to capital sources.
Provides access to customized quoting system.
Coordinates withdrawals from insured accounts.
Arranges deposits to Brokerage PF Account.
Releases Notice of Acceptance to Insureds and Notice of Assignment to Insurers.
Monitors insured re-payments and manages these per Brokerage instruction.
Manages mid-term policy changes which impact on finance agreement.
Provides Accounting and Management Reports to Brokerage monthly or upon request.
Maintains all accounting for the Brokerage’s Premium Finance account.
Provides system support and general premium finance business advice as required.
Provides staff training and training materials.
What You Need to Pursue an In House Premium Finance Program?
- Commercial and/or Personal lines Insureds interested in Convenient, Competitive Payment Plans.
- Capital or Credit Facility equal to one third of anticipated finance volumes.
- Some jurisdictionally dependent requirements may apply.