The word from Investec Premium as they hit a significant milestone;
Investec Premium Finance is proud to announce that, 18 months since its official market launch at BIBA 2022, it expects to shortly surpass its growth targets. The premium finance division, which was launched to provide a new competitive edge to the sector, is on track to sign its 200th formal broker contract this week – a milestone that underscores its rapid rise in the market.
As the seventh-largest bank in the UK by turnover, Investec’s entry into the premium finance market was a natural extension of its expertise in corporate and private banking. With over 190 staff already embedded in asset finance, and a strong operational base in Reading, Investec Premium Finance leveraged its existing infrastructure and expertise to scale quickly.
Osian Rees, Head of Investec Premium Finance, said:
“Significant investments in sales, marketing, and technology provide a robust foundation to grow our presence across the commercial lines market. But a key differentiator has been Investec’s technology platform, which offers real-time, streamlined processes that overcome the inefficiencies associated with legacy systems in the market. Brokers have consistently reported high satisfaction with our portal, praising its user-friendly interface and efficient operation.
“Looking ahead, we’re laser-focused on our long-term goals. Our long-term ambitions are clear: to be a trusted, reliable partner in the insurance market, offering innovative solutions and putting the customer first. The premium finance market has been dominated by a few major players for over 30 years. Cognisant of the feedback we receive from both brokers and networks across the market, we believe the market is ready for change and for competition to open up.”
Eight years ago, the journey began when an asset finance broker approached Investec to provide premium finance to fund a client’s insurance premium. After recognising the opportunity, Investec invested heavily in building a scalable system and assembling a specialist team. The next six years were spent refining these foundations, collaborating closely with a select group of brokers to ensure a high standard of service, system efficiency, and adaptability.
At the 2022 BIBA conference, Investec officially launched Investec Premium Finance with just a handful of broker relationships. Fast forward to today, the division is poised to achieve 200 formal broker relationships – a remarkable achievement ahead of schedule.
Investec Premium Finance credits its success to its broker-first approach. Investec are entrepreneurial, so the team is empowered to trade to meet broker needs. The firm has worked hard to gain traction with smaller independent brokers and networks, relying on word-of-mouth recommendations and delivering competitive rates, coupled with top-tier service.
Investec Premium Finance isn’t just investing in technology – it’s also reinvesting in its people. The team has grown significantly since launch, with the division increasing staff numbers to ensure it continues to deliver the excellent service it has become known for. This combination of great people and cutting-edge technology has allowed the team to offer brokers an “out of the ordinary” experience.
Investec Premium Finance is part of Investec, the seventh-largest bank in the UK by turnover. Launched at BIBA 2022, the company provides premium finance solutions that help brokers deliver competitive, transparent services to their clients. With a focus on innovation, collaboration, and service excellence, Investec Premium Finance is poised for continued growth and success in the UK insurance market.
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