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Special Section Sponsored by Target Markets Program Administrators Association Premium Financing Specialists Are you looking for a premium finance vendor with the national expertise to handle your largest client, without compromising the local service you and your staff have come to count on? Mike Gallagher, president of Premium Financing Specialists, urges you to “look no further.” “In our thirty year history, we have become the fourth largest premium finance company in the U.S. [in premium dollars financed] and the largest company in number of accounts financed. Our success is largely dependent on our ever-growing relationships with insurance agents and brokers, managing general agencies, and insurance companies—we understand premium financing is a relationship business. In the words of our founder, Tom Charbonneau, ‘people do business with people.’” Founded in 1977, with a single office in Kansas City, Missouri, Premium Financing Specialists (PFS) has either opened or acquired several nationwide branch offices and expanded their marketing force in an effort to not only remain competitive, but also to represent the hometown flavor of different regions within the country. Gallagher states, “We recognize that the insurance industry is regional by nature, which is why PFS developed our branch office concept. With 22 full service branch offices and marketing representatives throughout the United States, the PFS team has the unique ability to understand the individual needs of each agent and broker.” PFS believes this is a relationship business and it’s the people in the insurance industry that have made PFS grow from a small regional finance company to one of the top four premium finance vendors industry wide. “Even though we’ve grown, we never have strayed from our core value of professional, friendly service,” states Mike Gallagher. Over the years, PFS has distinguished themselves by meeting the needs of all of their business partners—including the target market segment. Our clients range from the small rural main street agencies to large national brokerage houses and insurance companies. “The PFS Advantage” offers: • Local decision making for fast, customized financing solutions • Easy online quoting, account management & docu-mentation preparation at www.premiumfinance.com • Attractive rates & terms • Flexible payment options with no prepayment penalties PFS has several product offerings including, but not limited to, standard premium financing, customized branding finance programs, and profit sharing plans. The standard PFS premium finance program offers web quoting, online producer and insured access to client account information, e-signatures (where permitted), and various payment options (to include credit card payments). Our network of over 15,000 agent and broker clients challenges us to continually improve our systems and strive to maintain our position of technology leader within the marketplace. The customized branding program was initially created for MGAs and insurance companies who were looking to create a profit center from their billing and collection venues without adding head count. PFS services the existing accounts receivable book for our branding clients and customizes all facets of the transaction to ensure our partners are receiving the industry brand recognition from their clients. Basically, the product is a billing and collection profit center for MGAs, insurance companies and even brokers looking to create a finance company without risking their own capitol. In addition to the financing program, PFS also offers a profit sharing program for clients who truly wish to “get into the game” as a vendor of premium finance. In this scenario, clients actually form a joint venture with PFS, splitting both late fees and finance charges through a profit and loss statement equation. This program is reserved for clients who truly wish to become business partners and commit to an exclusive relationship. As a member of the Target Markets Program Administrators Association, PFS represents a solid premium finance avenue for agents, brokers, MGAs and insurance companies looking to create a relationship with a vendor who still believes that regardless of the market, people do business with people. → |
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