MCE has gone live with a Finsure and Misys premium finance tool, and plans to transfer all of its monthly instalments to electronic premium finance.
Misys was chosen by Finsure to implement the solution, which enables brokers to deliver an electronic premium finance service at point of sale. Customer transaction and bank details are sent electronically to the finance house and payments are returned via an EDI message, which automatically updates the Misys system.
Michael Edwards, director, MCE, said: "We expect the volume of premiums through the software to increase substantially in line with the growth of the business."
Mark Ryder, commercial director, Misys General Insurance, said; “Premium finance is without doubt an attractive option for brokers. Integration between the provider's system and the brokers' day-to day-IT systems delivers further tangible benefits and allows brokers to increase their income."
