Nig is to outsource the administration of its personal lines instalment scheme to Finsure, its premium finance subsidiary.
Branding will remain in place and procedures for placing direct debit business with NIG will be as before.
Finsure, launched in 1997, has funds of more than £200m of loans through 2,000 agents.
The NIG staff who handle personal lines direct debit business have been transferred to Finsure, which will help to maintain the continuity of contact with brokers.
Paul Chaplain, managing director of Finsure, said: “Although this is an ‘in-house deal' between NIG and Finsure, it has been done on strictly commercial terms, so that both parties benefit.
“We hope that this is the first of many such deals for Finsure. We are well set up to provide this service to other insurance entities wishing to outsource their non-core activities.
“We believe that this will be a growth market.”
