Write-Offs

This is never a fun conversation to talk about, but it’s a reality that happens. When write-offs happen with EPFA, our partners will take the time to investigate the situation and they approach all clients and scenarios differently. EPFA makes it a priority to preserve the relationships with the clients while still ensuring the payments get made.

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Anna Shpak
Financing Audit Premium

In the premium finance world, oftentimes you cannot finance audit premium because it is fully earned. A finance company does not want to finance fully earned things because there is no collateral in the policy if they don’t end up getting paid. One of the main benefits of EPFA is that because as a group we do so much business, we have partners that will discuss financing audit premium. This is a huge benefit that you can offer to your insureds.

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Anna Shpak
Importance of Flexible Installments

We already mentioned that as a member of EPFA you can have the advantage of flexible installments and lower down payments. We’d like to explain a little more in detail how that works and how it will affect your clients. The traditional premium finance product is a 25% down payment with 9 installments. A large down payment may not always be the best fit for your client. Instead, the client could increase the installments and put down a lower down payment.

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Anna Shpak
How to Earn Money with Premium Financing

Did you know that your agency can earn revenue with premium financing? The condition is that you need very competitive rates to do this, but this is what EPFA can offer to you. The premium financing program with EPFA allows you to build on to the rates that we provide to earn revenue for your agency. Watch this video for a detailed explanation.

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Anna Shpak
Flexible Down Payments

Have you ever been told in the past that if you don’t get enough down payment and if there’s a shortage on the minimum earned, your agency would be on the hook for the difference? A lot of clients in the past have been told this, which results in them believing they need to get 25% down.

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Anna Shpak
Interest Rates

Have you ever wondered how interest rates work in the premium finance industry? Simply put, premium finance companies want to be just a little more competitive than the interest rate you currently have so they can preserve as much margin – or profit - as possible. Premium finance companies have to go out and get money at a certain interest rate from the market and then distribute that money at margin. Understandably, they will try to sell it to you at the highest rate possible to just beat the current rate you have.

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Anna Shpak
Introduction to EPFA

Introducing Element Premium Finance Alliance (Element PFA) - a national group of agents pooling their premium financing volume while retaining complete independence. Element PFA is focused on giving local agents the same competitive rates and terms that the large national agencies have been enjoying for decades. It puts the power of volume in your hands for your clients, so that you can continue to do what you do best - focus on your client.

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Anna Shpak
How EPFA Was Born

When EPFA first started, a group of 5 like minded agencies had a simple mission: we wanted better rates and terms for our clients. Fast forward to today and we have agents joining us from all across the country. The best part of the growth of EPFA is that as we have grown in volume we have been able to negotiate better rates and terms.

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Anna Shpak
How to Use Social Media to Stay Connected with Clients

Social media has continued to grow and explode before our eyes and given the COVID-19 pandemic, people (and businesses alike) have turned to their newsfeeds to feel connected to their friends, family members and more. When utilized properly, social media platforms can prove to be invaluable to insurance agencies for staying top-of-mind with their current and prospective clients.

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