| FIRST Funding Solutions |
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As an insurance company or insurance wholesaler, if you don’t offer a direct bill/premium payment program, it’s difficult to compete in today’s market. If you do offer a direct bill plan, your receivables increase, your admitted/invested assets decrease and your investment income goes down. So how can you stay competitive in the marketplace while still earning the investment income you need? Where is the competitive edge? The Solution FIRST has the solution. Our innovative program, designed solely for insurance carriers can offer your company, full funding of your entire premium usually within 30 days of the effective date, full commissions paid to your agents - up front and no (or low) cost financing and flexible payment terms for your insureds. Of course, your program comes with complete marketing, systems and operational support. How It Works A flexible program that allows you to create the program that best fits the needs of your company and the demands of your insureds. The proper question isn’t “How does it work?” It’s “How do you want it to work?” We can create for you true direct bill plan, a financing plan or one that is simply a combination of the two. True Direct Bill Plan All you need to do is keep selling insurance. We fund the entire premium to you and do all billing, collections and invoicing. We'll even send the initial renewal invoice and collect the full premium and the down payments. Simple Financing Program FIRST can offer your agents and insureds a premium finance package at below market rates and with special terms. With down payments usually around 10%, payment terms of up to 12 months and rates often well below Prime, your insureds will be hard pressed to find a more attractive or flexible financing package. Combination Program We can create a program that incorporates elements from both program types. A financing program at 0% APR. A direct bill plan with a small handling fee per installment. Programs with subsidized rates where the costs of the program are shared by the insurance company, the insurance agent and the insured. If you are interested in pursuing a program with FIRST, please contact us. |