Franklin D Roosevelt wisely said: “We cannot always build the future for the youth, but we can build our youth
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Many South African businesses have been hit hard by the COVID-19 pandemic. Due to this, brokers are finding that, at a time where they would normally have a client renewing their insurance premium upfront, they are now faced with anxious clients reluctant to renew, due to the financial uncertainty of the future.
Instead of asking: “Why should my client take out premium financing”, brokers should rather be asking: “Why shouldn’t they?”
Premium financing is an option that should be considered by all businesses, regardless of size or sector. The more sizable or complex the policy, the more benefit the client stands to gain. The best course of action for brokers would be to discuss their book with a premium financing service provider to help decide which clients would benefit the most from a premium financing service.
If any of your clients have sizeable or complex insurance policies, get in contact with us. We would love to have you on board.