Consumers are increasingly turning to finance from insurers and premium finance companies to ensure insurance is affordable, new research from the UK’s leading premium finance company, Premium Credit, shows.

Premium Credit is continuing to attract significant volumes of personal lines premium finance business from UK insurance brokers as they move away from Close Brothers Premium Finance, underlining strong broker confidence in the market leader.

According to SMEs themselves or their brokers, around one in four (24%) SMEs are believed to have been underinsured for the past 12 months, new research from the UK’s leading insurance premium finance company, Premium Credit, shows.

Premium Credit has today announced that its longstanding premium finance partnership with UK and Irish insurance intermediary PIB Group will continue for a further five years, in what both companies are describing as an endorsement of their shared focus on quality finance solutions and customer experience.

Premium Credit has signed a three-year agreement to be One Sure’s exclusive provider of premium finance for personal lines. The partnership, which is now live, follows a formal tender process through which Premium Credit was ultimately selected on the back of its technology, reliable funding and ability to seamlessly manage the migration of existing customers.

SMEs are borrowing more to pay for insurance underlining the importance of credit to help with budgeting as premiums increase, new research from the UK’s leading insurance premium finance company, Premium Credit, shows.