PremFina, the UK’s fastest-growing premium finance provider, and One Answer Insurance, a niche personal lines broker specialising in motor insurance, have entered a new multi-year strategic partnership to deliver flexible financing solutions for customers.
The collaboration comes shortly after Close Brothers Premium Finance exited the personal lines market, according to FF News.
PremFina has stepped in to fill the gap, supported by its recently secured £350m facility, and will provide technology-enabled finance to strengthen its partners’ offerings.
Founded in 2010, PremFina provides premium finance and software solutions that enable insurance brokers to offer customers greater payment flexibility. The company leverages its technology platform to streamline operations, enhance user experience, and provide access to tailored finance options.
Established in 2000, One Answer Insurance has grown into a trusted specialist personal lines broker. The firm focuses on motor insurance, including complex or non-standard cover, and prides itself on delivering tailored policies and competitive pricing for customers.
The partnership will enable One Answer Insurance to expand its offering by providing customers with bespoke finance solutions at more flexible terms, aligning with its goal of supporting clients with accessible and affordable insurance cover.
The deal underlines PremFina’s ambitions to expand its presence in the personal lines market, reinforcing its strategy of blending financial strength with a technology-first approach.
PremFina chief product & revenue officer Laura Sweetman said, “Our new partnership with One Answer Insurance reflects our commitment to delivering flexible customer-focused solutions across both personal and commercial lines. With our enhanced technology, backed by market expertise and financial firepower, PremFina is uniquely positioned to address the evolving needs of the personal lines market and continues to deliver to both our broker partners and their customers.”
One Answer Insurance managing director Trevor Cutts said, “Partnering with PremFina, whose customer-centric approach strongly aligns with our values, feels like a natural step for our business. This will further strengthen our ability to provide tailored insurance solutions, ensuring our clients benefit from greater flexibility in financing their policies.”
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