Premium Credit is pleased to announce a new partnership with Covéa Insurance, one of the UK’s leading Personal Lines insurers. The multi-year agreement, now live, represents another important step in Premium Credit’s ongoing growth within the insurance market.

Until now, Covéa managed its own premium finance arrangements internally. However, with the regulatory landscape continuing to evolve, the insurer sought to strengthen its position by partnering with a trusted specialist. Premium Credit’s established expertise, compliance strength, and commitment to service quality were key factors in Covéa’s decision to outsource.

Owen Thomas, Chief Sales Officer, Premium Credit, commented: “We are delighted to begin this partnership with Covéa Insurance. Moving from an in-house process to a specialist provider is a significant step, and it demonstrates the confidence Covéa has in our ability to deliver a compliant, efficient and customer-focused service. This partnership also utilises our new ‘Pay as Paid’ technology, an important development for Premium Credit and a valuable addition to our insurer offering.”

The “Pay as Paid model” aligns payments to Covéa with payments as they are received from customers rather than the full premium being paid upfront. The seamless process mirrors Covéa’s existing workflows and allows the insurer to offer an instalment solution at competitive rates through Premium Credit’s specialist, multi-award-winning premium finance offering.

Sue Coffey, Personal Lines Director, Covéa Insurance, added: “Premium Credit’s expertise and focus on customer outcomes made them the right choice for us. This partnership allows us to strengthen our service, ensure regulatory alignment, and continue supporting our customers with simple and transparent payment solutions.”

The partnership aligns with Premium Credit’s strategic goal of deepening relationships with leading insurers, brokers, MGAs and affinity partners and expanding the range of flexible finance options available across the market.