When Tom Charbonneau founded Premium Financing Specialists (PFS) in 1977, he envisioned PFS as a small premium finance company. Fast-forward more than 30 years, and the company is one of the largest in the industry. Throughout its growth, company leadership kept a focus on one of Tom’s key principles: people do business with people, not companies.

Over the years, PFS was careful to ingrain this principle in its branch offices. According to Mike Gallagher, PFS president, the company not only ensures its sales associates are close to the regions they serve, but that it also does all of its processing near its clients. “The local branch office structure brings quality control and decision making closer to the customer,” Gallagher notes. “This not only enhances efficiency, it also enables customers to get to know whom they’re calling when they contact an office in their region.”

Today, the firm offers a wide spectrum of premium finance services. “Few companies out there offer the same range and flexibility,” Gallagher says. In addition to traditional premium financing solutions, the company offers specialized profit share and branding programs. “We can finance very small to very large policies with fast quote review and approval,” he adds. “We provide a full range of payment options to our clients and their insureds, and we provide pre-cancellation warnings to mitigate cancellation of policies.”

In June 2010, PFS launched an updated Web site to augment its personal service as it continues to meet the evolving needs of the industry. Its online platform offers real-time data, streamlined quoting and quote tracking, detailed account management, and simple renewal financing. “Insureds can still manage and pay accounts online,” Gallagher explains. “Plus, clients can ‘go green’ with our Web-based management features and e-mail notifications.”

The Web site also provides industry-leading security features such as user level permissions, simple and secure registration, and an updated password reset process. Finally, program administrators can bolster their own brand with their insureds by placing their logo, contact information and announcements on their clients’ PFS welcome pages.

According to Gallagher, Premium Financing Specialists has worked to stay focused on sound financial principles during the recent economic downturn. “Despite the difficulties in the economy,” he explains, “we didn’t react with irrational rates that could lead to future financial instability. Instead, we intensified the premium service levels we provide our clients, and the premium solutions that we, as an independent provider, can best offer them. As a result, we’re stronger than ever.”

While the services PFS offers are flexible, practical and beneficial, that’s not what sets it apart, Gallagher says. “What differentiates us from the competition is our focus on service and stability,” he explains. “As a member of the Target Markets Program Administrators Association, we represent a solid premium finance option for agents, brokers, MGAs and insurance companies looking for a partner that believes that, regardless of the market, people do business with people.”