Benfield Premium Finance has signed up with four software providers to push its fully automated loan system to more than 5,000 brokers.
The Bigfish Personal Lines premium system will allow brokers using any one of the four systems to transact premium finance deals via the Bigfish products, which are configured in EDI and point-of-sale formats.
According to Benfield, brokers would be able to track their clients' business, including any arrears, through 21 separate reports.
Benfield said it had the capacity to write £200m worth of business and could offer personal lines brokers up to £5,000 per client.
Software Solution Partners (SSP) will roll out the product to 600 Key Choice customers by the end of the month. Business will be transacted via SSP's electrRa.
And the service will be available through Misys, Sirius and CDL users within a couple of months.
Benfield head of sales Ian Woodley said: "We plan to save brokers a lot of hassle and time by connecting our product to the four top systems.
"We also offer specific service guarantees to limit any risks of losing money to the broker."
