Close Brothers Premium Finance announces renewed technology and service focus for its UK and Republic of Ireland (ROI) brokers to boost growth

2019 will be a ‘year of commitment to the UK’s and ROI’s brokers’ for Close Brothers Premium Finance (CBPF), according to their chief executive, Sharon Bishop. 

 

Sharon said CBPF has strengthened the range and breadth of support for CBPF’s 1,700 broking partners, at a time of unprecedented change in the broking market. “There are plenty of challenges facing our brokers, but we want to be an active partner in supporting and helping them grow.” 

 

“Our key purpose is to make insurance more affordable for their customers by allowing them to spread the cost of their insurance through premium finance, but there is so much more that we want to do and can do.” On relationship management, Sharon explained that each broker partner has a dedicated Sales Manager, and CBPF has created a specialist team of sales consultants to help brokers increase their premium finance penetration and gain CPD accreditations at the same time. “We aim to increase sales by an overall 10%, and train over 3,000 people this year,” she said.

 

“Our dedicated system trainers now deliver engaging on and off-site training for credit agreement processing, system demonstrations, management information (MI) and reporting. The service is available to all our partners, no matter how big they are. We’ve arranged over 550 training sessions in the past 18 months, and we are targeting similar rates this year. 

 

Turning to service, Sharon said that CBPF is fully focused on system integration to benefit brokers of all sizes, including integration with all major software houses and undertaking bespoke integrated solutions directly with our brokers, using cutting edge Application Programme Interfaces (APIs).

 

“We have also introduced electronic signatures to create a seamless digital journey for personal and commercial customers, and we are currently piloting a range of pay-in-full payment options to provide brokers and their customers with greater choice and flexibility.” 

 

She said: “Investing in technology is a major strategic priority for our partners, but that investment can be expensive. Our partnership is about identifying where we can step in and make the investment for the benefit of all parties.”     

 

Sharon explained that the same principle applied to providing MI to brokers to help support growth. “We think our MI gives us an unrivalled insight into the broking market, and we want to make sure our partners can access and benefit from this. 

 

There’s a lot of doom and gloom around thanks to Brexit and other macro issues, but broking is a massive success story that we need to nurture. CBPF is the longest-established premium finance provider, and our success is built on bringing continuous improvement to our broking partnerships, enabling our brokers to thrive and prosper in the long term.”

 

 

About Close Brothers Premium Finance

CBPF works with over 1,700 brokers across their 2,000+ offices, helping more than 2.4 million businesses and customers across the UK and Ireland spread the cost of their insurance premiums. 

A pioneer in the field of premium finance, in 1977 CBPF was the first company to offer finance for insurance premiums. More than 40 years on we continue to deliver award-winning support through our strategic drivers of service, expertise and relationships. 

For more information please contact Ben Welsh: 07568 382040