Brokers can quote and bind a policy and arrange Close Brothers’ premium finance payments at the same time
Software house Applied Systems is integrating Close Brothers Premium Finance into its platform to enable brokers to arrange premium finance for their customers without rekeying the information.
Brokers already use the Applied TAM broker management back office system to quote and bind a policy, but they will now be able to arrange finance payments at the same time.
Previously, they had to key in the finance requirements directly into Close’s own system.
Applied Systems managing director broker solutions Joe Sultana told Insurance Times the move would help to reduce the administration burden on brokers with paper work and entering information more than once.
Brokers will also be able to retain the rates they have agreed with Close.
Sultana said: “What we are doing is allowing brokers to be able to offer customers, competitive finance options at point of sale in a single process, so it is totally integrated.
“Feedback from brokers using our broker management system was that Close was one of the providers they wanted to see us integrate with and improve the process of financing customer agreements.”
The move follows Close’s announcement last week that ithad launched a new system to enable brokers to scan and upload a customer’s completed and signed credit agreement into its i-prompt system.
Chief executive Sharon Bishop said: “Integration of our premium finance products into Applied TAM furthers our mission to enable brokers to focus on arranging the most comprehensive insurance policies in the UK while we focus on providing insurance consumers a superior range of flexible and economic payment plans.”
Applied has also integrated Premium Credit, another premium finance house, into its back office system.