Premium Financing at the Wholesale level

General Agencies and Wholesale insurance brokers can opt to play any number of roles in a financing transaction.  If your book of business is either frequently financed or if it isn't financed at all but your clients would benefit from a no-hassle financing option, you may be a candidate to form a captive premium finance business.  In doing so, you can provide a broader customer experience and more intuitive service along while reducing administrative overhead for your staff and increasing revenue per transaction.

Captive premium financing is something that is well established at the wholesale level. Input 1 provides both full service outsourcing and software solutions for this type of captive finance arm.

If your agency already has a premium finance business, Input 1 provides enterprise-class, fully web-based, premium finance software which up until recently has only been available to multi-billion dollar premium finance companies that build their own software systems.  Now the latest technology is available at a fraction of the cost and can yield significant value to your business.

Finally, if captive premium financing is not for you, partnering with a premium finance company to provide an integrated wholesale solution for your agents will yield significant benefits and income.  If you have thought about this before and you are still not offering it, click here to learn why our wholesale premium finance partnership is different and why it works.

Please explore each of these options by clicking on the tabs at the top of this page, each of which outlines our Business Processing Outsourcing, Software Solutions and traditional Premium Financing service options.

Or, click an item below to learn more about our organization and how we can help you grow the value of your business:

1. Knowledge Center (learn more about the premium finance industry)
2. Learn More about Input 1

Outsourced Premium Financing for Managing General Agents and Wholesale Brokers

If you are an MGA or wholesaler looking to establish a captive premium finance subsidiary, whether to run the business internally or outsource the operations is a critical decision.  Outsourcing can either be a temporary solution or a more permanent one.

Outsourcing the operations of your premium finance business can provide valuable insight into running the company.  Input 1, as your outsourced service provider and partner, will help establish procedures and policies consistent with best industry practices and deliver a comprehensive set of back-office services.  Establishing sound operating parameters from the beginning instills the right amount of discipline into the business and ensures higher levels of accuracy and service delivery as well as reducing operational risk.  Once your business is mature and running smoothly, you always have the option of keeping the outsourcing in place so that you can focus on growing your business, or if you prefer, you can bring the operations in-house and implement our industry-leading premium finance software to manage your portfolio.

If your MGA or wholesale entity already has an established premium financing operation, outsourcing is still an important consideration.  Administration of a day-to-day process is not always the best use of time and talent within an organization.  An outsourced arrangement can free resources which can then be used to grow your business.  Intelligent resource utilization is often times a key differentiator of successful companies. 

Contact Us today if you would like to learn more about what outsourced premium financing can do for your business.

Premium Finance Software for the MGA or Wholesale Broker

Input 1’s premium finance software system is used by premium finance companies owned by MGAs and wholesale brokers throughout the United States.

If your agency runs a captive premium finance company or is contemplating one, our Premium Billing System (“PBS”) software should be a primary consideration. 

PBS is an internet-based premium finance receivable system with an extensive feature set, embedded cross-marketing features, online customer service and a robust reporting system.  PBS is comprehensive enough to facilitate a national enterprise yet intuitive enough for smaller operations.

PBS is unique from competing systems not only because it is more feature-rich than its competitors but because it was designed and is supported by people that are in the premium finance business.  Input 1 sells products and services to the entire insurance supply chain.  We have watched for decades as premium finance companies try to make retail agent solutions work for wholesale entities, invariably leading to operational inefficiency and leaving opportunity on the table.  PBS allows you to maximize the benefit of premium financing within the context of a wholesale insurance brokerage.

Contact Us today to discuss how PBS can benefit your organization or Click here to learn more about the Premium Billing System here on our website.

Don't accept a Retail solution for your Wholesale operation

General agencies and excess and surplus lines brokers often do not get involved with the financing of the policy premiums that they sell. In making this choice, however, a very valuable opportunity is missed. Moreover, the decision not to get involved in this important aspect of the business is usually due to an incorrect understanding of what it is and how it works.

A properly implemented premium finance solution offered at the wholesale level will result in (a) an increased hit ratio on sales; (b) predictable and timely funding of premiums; (c) fewer calls from finance companies trying to verify policy provisions; (d) lower collection costs; (e) increased revenue per transaction.

Our success in implementing wholesale premium finance solutions is based on the fact that we don't try to sell a retail solution to a wholesale entity. We understand that it doesn't work. A premium finance offering from a wholesaler must be streamlined for complete and total ease of use. If it isn't, the retailer won't use it. If it is easy to use, the retailer will use it again and again.

Through our retail premium finance subsidiary, gotoPremiumFinance, we have successfully implemented wholesale premium finance programs across the United States for tens of thousands of insureds . These programs provide electronic funding and electronic data exchange for policy numbers, cancellations and reinstatements.

Our customers receive premiums when they need them and everything else is either no touch or ultra low touch. Phone calls are reduced. Collection headaches go away. Everyone wins.

Contact Us to learn how a wholesale premium finance solution can benefit your organization.