Axa Commercial forms new partnership to offer payment by instalments solution

Axa Commercial has partnered with Premium Credit Limited to offer a new payment by instalments solution as part of plans improve customer experience and modernise internal processes.

The new proposition will offer customers real-time instalment quotes, online application options and the ability to self-serve on instalments through online account management, according to a statement released today (9 June 2023).

The solution will be fully integrated into Axa Commercial’s policy systems over the next 18 months.

Simon Howard, financial director at Axa Commercial, said it chose to partner with Premium Credit due to its ”industry expertise and established cloud-based solutions”.

”We are now working with Premium Credit on the details of the new instalment proposition, which will be available to customers and brokers in the near future.”

‘Enhancing experience’

The system is part of Axa Commercial’s transformation programme to revamp its customer proposition.

Prior to announcing its partnership with Premium Credit, Axa Commercial carried out a wider review of policy administration and payments systems designed to improve customer experience and modernise internal processes.

Tara Waite, chief executive at Premium Credit, said that the firm was “delighted” to provide Axa’s commercial customers with the new solution.

“Delivering great customer experience is something that both Premium Credit and Axa are passionate about,” she added.

“We look forward to enhancing the Axa experience by working together in a compliant outsourced arrangement.”