Q: What return can I achieve on premium financing?A: The rate of return on premium financing is dependent on several variables, however a gross margin of 10% APR. over prime is not uncommon.
Q: What are the risks involved in premium financing?A: Premium financing can be a low risk venture since the unearned portion of the premiums are assigned to the financing company. Any cancelled policies can be fully secured with a conservative payment plan.
Q: What investment is required to begin premium financing?A: Since an infrastructure exists within the brokerage a modest investment for software licensing and some minor office expenditures would be required.
Q: Where can I attain the funding to provide premium financing?A: Third Eye Solutions has relationships with lenders in who are experienced with providing funds to companies wishing to provide premium financing. Third Eye will introduce a lender to help expedite the setup for you.
Q: Where can I gain the knowledge to learn more about premium financing?A: In addition to the providing software solutions, Third Eye has a team of highly experienced individuals in premium financing. Third Eye provides consulting services to assist organizations in the establishment of a premium financing operation and enhance their level of expertise in the delivery of the service to their clients.
Q: Who should do "In-House" premium financing?A: In-House premium financing is a value added service which can create a definitive advantage for any Insurance Broker or General Agent. Third Eye Solutions can tailor make a software solution that will suit any organization.