Markerstudy has created a new specialist division to oversee all premium financing activities across its operations. Christian Jackson will serve as director of premium financing and lending, reporting to Emma Rawlinson, CEO of Markerstudy Distribution. Jackson brings over 30 years of premium financing experience to the role.
“I joined Markerstudy to lead a team focused on adding value to the premium financing supply chain for policyholders,” Jackson said. He added that the market must adapt to new regulations, higher consumer protection standards, and evolving lending needs. His priorities include improving the customer experience and introducing new lending products in both commercial and retail finance.
Regulatory Scrutiny Drives Strategic Focus
The launch of this division follows increased oversight by the UK Financial Conduct Authority (FCA). In November, the FCA opened a market study to evaluate whether consumers using credit for car and home insurance receive fair value. The study looked at finance option transparency, quote competitiveness, and the impact of commissions on customer outcomes.
Premium Financing Costs Remain Under the Microscope
Recent research from consultancy Pearson Ham shows that financing costs for insurance remain a key concern:
Car Insurance: Average monthly instalment cost fell to 10.7% in September 2024, down from 11.9% in October 2023.
Home Insurance: Average cost dropped to 8.3% in September 2024, from 10.0% a year earlier.
Despite these declines, rates still vary widely across providers. The study found car insurance financing rates range from 1.9% to 20.2%, while home insurance rates span 0% to 36.8%. Such disparities highlight questions about consistency and transparency in customer charges.
Expansion Through Hughes Insurance Acquisition
The new division also builds on Markerstudy’s growth following its November 2024 acquisition of Hughes Insurance. That deal added 85,000 customers and bolstered the group’s footprint in Northern Ireland. Hughes Insurance specializes in car, home, van, travel, and commercial insurance, further strengthening Markerstudy’s product portfolio.
By combining seasoned leadership with focused regulatory compliance and strategic acquisitions, Markerstudy aims to set a new standard in premium financing services.
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