AXA Commercial is partnering with Premium Credit Limited to offer customers a payment by instalments solution.
The new proposition will give AXA Commercial’s customers access to real-time instalment quotes as well as online application and execution of the instalment contract. Customers will also be able to self-serve through online account management.
The solution will be fully integrated into AXA Commercial’s policy systems over the next 18 months and all commercial customers will be eligible to apply to pay by instalments once the proposition is fully integrated.
Simon Howard, financial director at AXA Commercial, said: “We chose PCL for their industry expertise and established cloud-based solutions. They’re market leaders in their field, with a proposition that allows us to offer customers a wide range of fully compliant, flexible, digital finance management options, both now and in the future.
“We are now working with PCL on the details of the new instalment proposition which will be available to customers and brokers in the near future.”
Tara Waite (pictured), PCL CEO, added: "We are delighted to be partnering with AXA to provide their commercial customers with a flexible, digital, integrated solution to pay their insurance premiums in convenient instalments. Delivering great customer experience is something that both Premium Credit and AXA are passionate about, and we look forward to enhancing the AXA experience by working together in a compliant outsourced arrangement."
The move is part of AXA Commercial’s ongoing transformation programme and part of a wider review of policy administration and payments systems.
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