Close Premium Finance is using the Biba conference as a platform to launch a series of products which aim to ease refunds, increase the speed of payments and facilitate growth for brokers.
The four new products are:
- Faster payment of premiums
The 14-day product is expected to give broker faster premium payouts and allow commissions to be transparent and paid at an earlier date
- Delayed debiting
The delayed debiting facility aims to give brokers 30 days to chase up refunds from defaulting customers.
- Twice monthly settlement of bordereaux payments
Commission payments will be paid twice monthly to the broker. Close said brokers will have access to their money more regularly, promoting stronger cash flow.
- Business development assistance
