Hood Group, a leading technology and data driven business, has named Premium Credit as its exclusive supplier of insurance premium finance in an extended agreement.

During the five-year deal Premium Credit will provide a digitally led premium finance option across Hood Group’s range of insurance products. The facility will be presented to customers of its start-up, consumer brand and large insurance company partners, allowing them to purchase cover in convenient monthly instalments. 

As part of the agreement Premium Credit will be integrating its premium finance option within ICE InsureTech, Hood Group’s newly introduced back-office policy administration platform, enabling a seamless end to end customer journey.

Simon Hood, Hood Group’s CEO said: “As part of our best-of-breed customer journey, ensuring customers have the choice to pay for their insurance in a way that is convenient to them is paramount. Having worked with Premium Credit over a number of years they have become a trusted supplier, agreeing a solus deal with them was a natural progression in our partnership.”

Hood added: “After launching a new partnership with The Military Mutual that utilises the Premium Credit solution, we’re embarking on an exciting roadmap to integrate this solution into all of our systems, creating a frictionless journey for our customers. At a time of increasing regulation, having confidence we’re using a compliant solution allows Hood Group to focus on our core activities of acquiring and retaining customers for our partners and helping shape the future of insurance.”

Owen Thomas, Premium Credit’s Chief Sales Officer commented: “We are delighted to partner with Hood Group in this expanded role. Our investment in technology has created a simple and easy option for Partners. Insurance can be sold using credit in a consistent and compliant manner benefiting the customer and supporting Hood Group’s growth agenda."