Willis retains Premium Credit for a further three years
In a new three year deal Willis (NASDAQ:WTW) has extended its partnership with Premium Credit, the UK and Ireland’s market-leading provider of insurance premium finance.
The latest agreement has been secured both on the basis of the strong relationship already built and the successful and consistent delivery of agreed objectives and targets since the partnership was first formed 23 years ago.
In addition to continuing to provide easily accessible monthly payment options through Premium Credit, to help customers spread the cost of insurance premiums with affordable monthly instalments, the new deal includes a number of enhancements:
* Increasing the underwriting automatic approval limit, allowing more customers to receive instant approval, saving both brokers and customers valuable time
* Implementing a bespoke process to support larger and more complex customers
* Settling customer funds quicker to improve cash flow and service
* Sharing better market insight and performance data allowing Willis to make informed decisions, identify cross sell opportunities and increase market share
This will lead to more of Willis’ customers receiving an offer of finance, even in products or divisions that have not historically offered premium finance. Both businesses also plan to explore ways to collaborate more closely and find new areas for growth and expansion.
Owen Thomas, chief sales officer, Premium Credit said: “Willis are a trusted brand and represent some of the most complex customer needs in the insurance market. Renewing our contract with Willis underscores the strength of our partnership and our commitment to their customers. Moving forward, we are dedicated to working together on new initiatives and identifying further areas of growth for mutual benefit.”
Tom Webb, head of operations GB and chief operating officer Willis Limited, comments: “Our partnership with Premium Credit has spanned more than two decades, one built on trust, innovation and collaboration. The enhancements we have agreed as part of this contract renewal will allow us to provide an even better service to our customers, offering a market-leading premium finance facility, whilst saving time for our teams and customers and supporting growth.”
Adrian Wilmott, managing director GB Retail – Risk Advisory, Industry & Sales, Willis added: “We are delighted to have renewed our contract with Premium Credit. They continue to be our premium finance provider of choice as together we maintain our commitment to delivering exceptional outcomes for our customers.”