| 摘要 |
Provided is a system and method for financing insurance policy premiums for an insured unwilling or unable to pay up front the full amount of the insurance premium(s). Critical system and methodology components include eliminating the traditional premium finance company from the process, and establishing a contractual, operational, and financially beneficial relationship between insurance agents and lending institutions (e.g. banks, financial institutions, a lender, or credit unions) identified as premium finance funding companies (PFFCs). The provision of capital, the funding of the policy, and the profit distribution (profit generated from the financing process) are a function of the respective participation of the agent and the PFFC. Servicing of the policy can also be negotiated between the parties. Tools exist (software and otherwise) to assist the PFFC in monitoring agent activities and the management of its capital investments/funding dollars of both the agent and the PFFC.
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