Motor insurer Highway has launched an online premium finance solution. The service went live on June 1, enabling borrowers to pay for any type of insurance cover from any insurance company.

Premiums, which are paid by direct debit, can be spread over a 12-month period, and additional functionality will enable deposits and arrears to be processed by debit and credit card. Brokers can brand the scheme as if it were their own. Policies can also be amended instantly in front of the client.

Finance director Ian Patrick said: “It not only provides a valuable additional income stream to Highway brokers, but also improves customer service and reduces operating costs.”