FIRST Insurance Funding: What You Need to Know Right Now

FIRST Insurance Funding: What You Need to Know Right Now

FIRST Insurance Funding (FIRST) is North America’s leading premium finance company. They’ve offered exceptional, inventive, and adaptable service for over 30 years. They are a true partner to insurance brokers and agents, providing them with specialized tools and solutions to meet their specific needs.

FIRST Insurance Funding is a division of Lake Forest Bank & Trust Company, N.A., a Wintrust community bank. Our parent business is Wintrust Financial Corporation, a $53 billion financial holding corporation whose common stock is listed on the Nasdaq Global Select Market (Nasdaq: WTFC).

FIRST benefits from Wintrust’s financial resources, which are strong and steady, as well as low in terms of funding costs.
Because FIRST and Wintrust have no ownership interest in any insurance agency, you will never work with a rival.

FIRST Insurance Funding Location and Worth

FIRST Insurance Funding, headquartered in Northbrook, IL, with over 200 devoted service professionals, is proud to have maintained an uninterrupted ownership and management structure since its inception in 1990. FIRST serves several large regional and national brokers, as well as middle market insurance agencies around the country, through an experienced and committed team of 35 Relationship Managers. FIRST has grown its yearly commercial property and casualty loan volume from $400 million in 1997 to more than $10 billion today.

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FIRST Insurance Funding is a completely owned subsidiary of Wintrust Financial Corporation (Wintrust), a publicly traded, diversified financial services corporation with assets of over $50 billion (NASDAQ: WTFC).

Premium FIRST Insurance Funding Benefits

  • Save your cash/capital for future business possibilities and priorities.
  • preserve your credit accounts active.
  • Earn more from retained capital than paying your insurance cost upfront.
  • Enjoy versatile and simple payment choices.
  • Make a single installment payment that works for your business.
  • Provide additional insurance coverage.
  • Relax knowing that your rate and payments will not increase during the length of your loan.

The FIRST & FAIA Partnership

FAIA members and their clients can benefit from access to one of North America’s leading premium finance companies by working with FAIA’s preferred partner FIRST Insurance Funding.

FIRST is one of North America’s leading premium finance organizations, financing about $14 billion in loans yearly. FIRST is licensed to conduct business in all fifty states, Canada, Puerto Rico, Guam, and the United States Virgin Islands.

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With over 30 years of expertise, FIRST is dedicated to providing FAIA members with the resources they need to grow their businesses. With a reputation for providing exceptional, inventive, and flexible service, FIRST is a true partner to insurance brokers and agents, providing them with tailored solutions to meet their specific needs.

FIRST & Vertafore

FIRST Insurance Funding of Canada (FIRST Canada), the leader in insurance payments, has partnered with Vertafore to provide innovative payment solutions directly within SIG with FIRST PayTM for Vertafore SIG. With a few simple clicks, SIG users can now provide financing quotes and payment plans for new business and renewals along with the policy proposal, at the point of sale. In addition, they now can retrieve real-time client payment status, installment schedules, and documents, and create “what-if” payment scenarios, all without leaving the BMS.

What Exactly Does Canada’s First Insurance Funding Do?

FIRST Insurance Funding of Canada develops payment solutions for the Canadian insurance industry, helping to retain clients, improve cash flow, and differentiate your value to clients. Your clients will enjoy the added value you provide through a variety of convenient payment choices.

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They provide comprehensive payment solutions for the Canadian insurance business. They provide numerous payment choices to all commercial insurance clients, including full payment, monthly payments, and credit cards.

Brokers, MGAs, and Carriers can collaborate with them to broaden their offerings, providing additional value, choice, and convenience to all of their clients. FIRST Insurance Funding of Canada (FIRST Canada) is part of the Wintrust (Nasdaq: WTFC) family of enterprises, which has over $56 billion in assets and is one of North America’s largest premium finance organizations.

FIRST Canada has exhibited a continued commitment to the Canadian insurance market by investing in acquisitions and technology and will continue to do so. FIRST Canada maintains offices in British Columbia, Alberta, and Ontario.

The First InSite™ quoting portal provides a library of APIs to swiftly build payment solutions. Our APIs are ready to install, allowing you to use our infrastructure to provide an amazing customer experience to all of your clients, including eSignature.

Automate your payment solutions with APIs to simply combine the capacity to offer clients a variety of payment ways with the efficiency that makes your brokerage competitive.

Leverage their knowledge, compliance, and secure solutions to quickly bring your payment solutions to market.

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