Benfield Premium Finance is piloting its fully automated loan system to Software Solution Partners (SSP) Key Choice members.

At least seven brokers are piloting the BigFish personal lines premium system with 550 brokers waiting to go live by 1 May.

Brokers can transact premium finance deals via the BigFish products, which offer's EDI and point-of-sale capabilities.

Business is transacted via SSP's electRa which has the embedded premium finance functionality built in. Members can track their client business through

21 separate reports displaying on the web, including any arrears activity.

Benfield Premium Finance head of sales Ian Woodley said: "This is the first time data quotations right through to the loan agreement have been dealt with purely electronically.

"For the broker, there is no re-keying of information and no forms to fill in."

SSP Key Choice general manager Jim Horrell said: "This is a prime example of providing real value and differentiation to our broker network proposition."