Premium financing allows policyholders to spread insurance payments over time, benefiting agencies with faster revenue, reduced cancellations, and higher client retention. It involves a third-party finance company paying the full premium to the carrier, with the client repaying in monthly installments. Agencies should choose a finance partner that supports fast funding, integrates with their system, and provides dedicated support.

Global supply chain disruptions are driving up insurance costs for industries like maritime transport and logistics. Learn how premium financing helps businesses maintain coverage while easing cash flow strain.

Customer service teams need their processes, systems, tools – and most of all – people to work in harmony to offer superior support. Self-service support can be utilized in lieu of personalized service, provided its offerings are on par with your agents.

It's important to understand the key challenges, so agencies are able to manage and overcome them. Where the future of point-of-sale (POS) systems and payment processing is concerned, three key challenges come to mind: sophistication, futureproofing, and true partnership.

Inflation can create a severe challenge in the commercial insurance market, affecting both insurers and their policyholders. It's crucial for policyholders and carriers to have a clear understanding of inflation and take the following steps to ensure adequate coverage during these difficult market conditions.

Premium financing serves as a chance for insurance agencies to provide a higher level of client service while expanding their revenue flow.