PremFina Wins Best New Business Award (Yes we know it’s early, we were surprised too.)

London, May 8, 2015 – PremFina (www.premfina.com) was named winner of the Best New Business Award at the 2015 Best Business Awards that took place on March 25, 2015. 

PremFina is an innovative company in the £6 billion UK premium finance market. It supplies insurance brokers with their own branded premium financing through the provision of both the software to manage the sale of broker-branded insurance policies to consumers and businesses as well as the financing to enable their customers to pay their policy premiums via monthly instalment plans.

Best New Business Award, aimed at companies marked by a clear point of differentiation that have been trading for less than three years, recognizes PremFina for bringing innovation to the UK’s insurance industry premium finance segment with its white-label premium finance solution. Brokers currently facilitate rather than manage the issuance of premium finance agreements, handing over a client relationship to the insurance company after finding customer the right policy. They make only small referral fees and operate using inflexible software. PremFina’s white-labeled premium finance service allows them to offer and manage financing agreements themselves. It gives them the ability to brand, set market relevant prices, maintain customer touchpoints to upsell and cross sell and gives them a bigger interest-based fee - all using the industry’s best software. It essentially puts brokers in control.

Upon receiving the Award, PremFina’s CEO Bundeep Singh Rangar said:

To be recognized for a disruptive potential at such an early stage in the game only gives us a reassurance that we’re on the right track. We truly believe that our “Give Premium, Get Premium” approach is what the insurance brokers were waiting for and now have the chance to experience first-hand.”

The Best Business Awards are one of the UK's highest profile awards. Its goal is to highlight and reward excellence across the private and public sectors. They pride themselves on having a large panel of over 20 independent expert judges who select winners according to strict criteria for each category and sector.  The winners all have one thing in common – they are truly excellent at what they do and PremFina is proud to have been recognized as being one of them.

About the Best Business Awards

The Best Business Awards are open to private, public and third sector organisations of all sizes. There are four rounds each year with quarterly deadlines being the last working day of January, April, July and October and winners for each round hold their title for twelve months.

Website: http://www.bestbusinessawards.co.uk/

About Awards Intelligence

The Best Business Awards are marketed and administered by Awards Intelligence the World’s leading provider of business awards and personal honours services, providing news and information and support to progressive individuals and organisations across the world.

Website: http://www.awardsintelligence.co.uk/

London Entrepreneur Launches ‘the Uber of Premium Finance’

London, 13 May 2015 – CEO Bundeep Singh Rangar today announced the launch of PremFina (www.premfina.com) – a new player bringing innovation to the traditional UK premium finance market with its white-label premium finance solution. PremFina’s solution means better returns, better retention and greater autonomy for insurance brokers, and it is coming to BIBA 2015 to show them what they’ve been missing out.

PremFina takes premium finance to the next level. It transforms the rigid model adopted by the competition, which sees brokers facilitating rather than managing the issuance of premium finance agreements, using inflexible software and making small referral fees, by providing them instead with their own-branded premium finance facility. PremFina’s white-label solution offers brokers a combination of market-leading software to manage the sale of broker-branded insurance policies to consumers and businesses as well as the financing to enable their customers to pay policy premiums via monthly instalment plans. This means brokers get to keep everything in-house.

Because every industry needs its Uber. PremFina, like Uber, is in the business of changing how things are done by cutting out the middleman, with its disruptive technology. Uber has done it for taxi drivers with their ‘tech startup meets taxi service’ mobile app, giving drivers a platform for accelerating their business by connecting them with the customers directly. PremFina has done it with its premium finance solution that makes insurance brokers more ‘freelance’ by saving them from a hand over of their customer relationship to the financing company.

Like Uber, PremFina takes things up a notch with easy to use, flexible software that tracks the progress of customer journey, has options at every price and for different needs. All this translates into the highest standard customer service. Let’s face it, that’s what it’s all about.

With PremFina, you Give Premium, and Get Premium. That’s right. Our solution gives brokers the ability to brand, set market relevant prices, a bigger interest-based fee and an opportunity to maintain customer touchpoints to upsell and cross sell. It essentially puts the brokers in better control of their business.

“We’re really excited to be going to BIBA this year. It couldn’t be a better timing for us with PremFina launching just in time for the event“ said CEO Bundeep Singh Rangar. “If you want to have a drink and a chat about what we do, or just want to say hi, we’ll be at stand C58.”

The BIBA conference is a flagship event for the UK insurance industry. It offers invaluable networking opportunities and a programme of inspirational keynote speakers, senior industry personalities and experts in insurance and general business related fields.