Insurance technology specialist SSP announced today that it has partnered with Bexhill UK in the premium finance company's first software house integration.
The addition of Bexhill UK to SSP's integrated premium finance panel provides brokers with more premium finance options for their customers. Premium finance enables customers to spread the cost of their insurance premiums and budget more effectively.
As well as increasing the range of providers for direct premium finance – where the provider pays the full cost of the policy to the broker and then collects regular payments from the customer – the strategic alliance with Bexhill UK also enables brokers using SSP's platform to set up their own in-house premium finance company.
In-house premium finance gives brokers the unique choice to provide finance to their clients and have greater control over their premium finance business.
Adrian Coupland, Managing Director, Data and Distribution at SSP said: "I am delighted that this strategic alliance with Bexhill UK enables us to offer an innovative premium finance solution to our brokers.
"As a result, they can improve their competitive edge and profitability while providing their customers with excellent service and cost-effective finance."
Ravi Takhar, CEO at Bexhill UK said: "SSP is the software house I have been most impressed by and I really appreciate the efforts of the team there. We have a number of clients already using SSP, and in our minds it was the most effective system for Bexhill UK to integrate with.
"I'm excited that SSP understands our vision and the benefits of insurance brokers creating an in-house finance solution. I look forward to developing a strong and long-lasting relationship with SSP that will ultimately benefit the UK insurance broking industry."