INSURANCE PREMIUM FINANCING FOR BANKS
Since 1984 FinanceMaster® has been the proven user-friendly premium finance software system. Advanced Insurance Systems, Inc. supports its FinanceMaster® users 24/7/365 with funding, licensing, forms and operational assistance.
Five hundred plus companies know our software is easy to use and flexible regarding set-up, operations, forms and reports.
The reporting features in our FinanceMaster® software are robust and allow you to access the information you need through exception reporting. More specifically, the Control Summary report can be generated by the FinanceMaster® software and gives a snapshot of the outstanding receivables for the finance company. This report breaks receivables down by status of the account thus providing the information needed in order to follow up on accounts and take any necessary action.
The Control Summary report should be required by a bank which is lending money to the premium finance company. In addition, the aged detail analysis report provides the detail behind the control summary report.
For banks looking for new ways to generate loans, insurance premium financing provides a low-risk and high profit opportunity. Additionally the relationships that will be created with insurance agents and insurance companies will likely create more lending opportunities for financing their property, equipment and their growth and acquisition activities which are and always will be a large part of the insurance marketplace.