New Hope Premium Finance Service Partners with Input 1
New Hope Premium Finance Service, Inc. (NHPFS) recently made a significant move by selecting Input 1's Premium Billing System (PBS) and Input 1 Payments as the foundation for its premium finance operations. By doing so, NHPFS aims to take full control of the premium finance experience, focusing on customer satisfaction and operational efficiency.
Strategic Shift to In-House Financing
Owned and operated by seasoned insurance experts, NHPFS recognized the value of managing premium financing internally. This strategic decision was driven by the desire to enhance customer experiences while generating new revenue streams without increasing the overhead costs associated with outsourcing.
Statements from Leadership
Oscar Landaverde, Vice President of NHPFS, shared insights on this decision, stating, "Outsourcing premium finance resulted in the loss of control over this vital aspect of our customer relationships. By launching our own finance company using Input 1's PBS platform, we'll benefit from increased automation, flexibility, and robust support that helps us scale efficiently." This positive change ensures that New Hope can innovate and expand without needing to grow their team dramatically.
Input 1’s PBS platform is designed specifically for premium finance and integrates advanced contract lifecycle support, automated processes, and essential agent tools. Policyholders will appreciate the secure payment options available through Input 1 Payments, enabling options for credit card or ACH processing.
Technical Support from Input 1
Chris Farfaras, Executive Vice President of Input 1, expressed excitement about supporting NHPFS’s business expansion efforts. "Oscar and his team identified a unique opportunity to enhance the service to their policyholders. We are thrilled to facilitate their growth and provide the necessary tools to support their vision," he remarked.
About New Hope Premium Finance Service, Inc.
NHPFS stands as an agency-owned premium finance company, strategically located to serve its clients efficiently. With a foundation built by experienced insurance professionals, the company was established to deliver a service-centric financing alternative, empowering agencies to manage billing and collections effectively.
About Input 1
Input 1 delivers a powerful solution for insurance providers aiming to modernize their billing, payment collection, and premium financing processes through a flexible and cloud-based platform. With over 2 million users relying on their services and managing $16 billion in premiums annually, Input 1 is set to create dynamic solutions that enable insurance carriers, Managing General Agents (MGAs), and agencies to navigate market shifts while nurturing customer loyalty and discovering new growth pathways.
Frequently Asked Questions
What services does New Hope Premium Finance offer?
New Hope Premium Finance provides a locally managed premium finance service that focuses on enhancing the customer experience through in-house financing.
Why did NHPFS choose Input 1?
NHPFS selected Input 1 for its innovative Premium Billing System and payment processing capabilities that allow for better control and flexibility in managing finances.
What benefits does the PBS platform provide?
The PBS platform supports the entire contract lifecycle, automates various workflows, and offers tools for agents, making operations smoother and more efficient.
How does this partnership benefit policyholders?
Policyholders benefit from enhanced service delivery and more flexible payment options that come from the integrated payment processing offered by Input 1.
What is the vision of NHPFS moving forward?
NHPFS aims to continue improving service for policyholders while expanding its operations and capabilities through innovative financial solutions.
