FIN-TECH

Close Brothers Premium Finance is . Even though Close Brothers Premium Finance works closely with brokers to make sure the customer is provided with all the information needed to make them aware that they are entering an agreement with a third party lender it ’ s the very nature of the insurance purchase model that the customer often just sees their broker as the provider of the end to end service . Whilst they will receive Close Brothers branded documentation , if they have queries , want to change their bank account or requested payment date , or settle miss payments , they will have to deal someone they don ’ t immediately recognise , having

perhaps bought a supermarket branded insurance policy , managed by a broker , from a price comparison website in the first instance .

Insurance is not the core business of a retailer , so it uses a broker to configure its product and in turn the broker uses an insurer or insurers to provide the risk transfer facility and a provider such as Close Brothers Premium Finance as its finance provider to pay the insurer ’ s premium and arrange monthly collection from the customer “ All the customer wants is insurance and to be able to pay for it monthly . In some parts of our market segmentation we are asked to be as invisible as possible so that the insurance distribution

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