What is premium funding?

Premium funding enables individuals and businesses to pay insurance premiums in monthly instalments instead of an annual lump sum payment.

It’s a service often offered by insurance brokers, with the assistance of a premium funding company, to provide a more convenient payment method for clients. The premium funding company then charges some interest and fees. Our charges can be viewed here.

How does premium funding work?

Insurance premium funding is simple.

  1. An insurance broker engages with an insurance premium funding provider for a client.
  2. The funder pays the annual premium to the insurer on behalf of the client.
  3. The client pays the funder back in monthly instalments.

In Bexhill’s case, this is all managed through our proprietary premium funding software.

If there are any changes in the insurance policy, the funder adjusts the agreement and the future instalments accordingly.

Most commercial and domestic insurance policies that have a cancellable rebate option can be funded by Bexhill premium funding.

Why do customers choose premium funding?

There are many reasons to choose premium funding.

  • Flexible repayments that help households and businesses with their cashflow requirements
  • An easy alternative to paying a large insurance premium once a year
  • The ability to group multiple insurance policies under one premium funding agreement
  • The cost of the credit may be tax deductible

I am a business owner. Can I get premium funding for my insurance with Bexhill?

You can apply for insurance premium funding through your insurance broker.

I am an insurance broker. How do I sign up to become a Bexhill premium funding partner?

You must be a registered insurance broker and a cluster group member to apply for Bexhill’s premium funding. Feel free to give us a call if you would like more information regarding our qualifying criteria.

Complete our application form here.

What do Bexhill do?

Bexhill provides insurance premium funding through insurance brokers.

We offer insurance brokers 2 options:

  • a facility to administer and manage their own premium funding company through licensed access to the Bexhill Premium Funding Management System (PFMS) along with a credit facility to fund their cashflow requirements, or
  • a facility to generate quotes for their customers to apply for premium funding directly with Bexhill.

More details can be viewed here.

What is the Bexhill Premium Funding Management System?

The Bexhill PFMS is a unique, intelligent, software program delivered via the internet that incorporates all the systems, procedures and documentation you need to successfully administer and manage your own premium funding company.

I have a loan with Bexhill, where can I find information about my loan?

If you would like to talk to us about your loan you can contact us on funding@bexhill.co.nz  or call us on 04 471 0086.

If you have a question about your insurance you will need to speak with your insurance broker who will be able to answer any questions you may have. If you’re interested in finding out more about terms and fees please take a look here.

What does the Bexhill Premium Funding Management System cost?

Bexhill charges a license fee for the use of the PFMS.

The licensing fees vary and range from being:

  • $400.00+GST per month to companies that regularly fund through Bexhill, or
  • $775.00+GST per month as a minimum charge for funding companies that irregularly fund or do not fund through Bexhill, or
  • $1 per current agreement when exceeding 775 current agreements per month for funding company users that do not fund through Bexhill

Does Bexhill provide system training and support?

Yes, Bexhill provides free training and support to licensed users of the system.

Is the Bexhill Premium Funding Management System Secure?

The Bexhill Premium Funding System is secure. All data is protected and encrypted.

Only registered users can access the Bexhill Premium Funding Management System. Before you can use the service on this site, you must register with Bexhill and agree to be bound by the user’s Facility Agreement.

As with any normal banking transaction, Bexhill will treat your information and transactions as strictly confidential.

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