The collaboration is set to provide affordable and flexible insurance policies to young drivers. Credit: Song_about_summer/Shuttertstock.com.

Car insurance broker MyFirst has entered an alliance with premium finance provider PremFina to offer enhanced insurance services to young drivers.  

MyFirst, specialising in insurance for young drivers, learners and students, helps young drivers find flexible and affordable policies. 

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The insurance broker has sought to create partnerships that deliver accessible premium finance options to its unique client base. 

As part of its collaboration with PremFina, MyFirst will utilise PremFina’s technology platform to ensure a seamless premium finance experience for the insurance broker’s customers. 

PremFina’s ability to offer customised financial solutions will enable MyFirst to tailor its services to the varied needs of young drivers, potentially giving the broker a competitive advantage in the market. 

MyFirst CEO and founder James Noble said: “Most customers who approach MyFirst aren’t even sure which category of young driver insurance they fit into. Making their journey as easy as possible throughout the buying process – and the life of their cover – is critical.  

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“Our choice to partner with PremFina reflects our shared customer-centric values. PremFina’s reputation for seamless, user-friendly premium finance aligns perfectly with our vision, and our commitment to providing first-class customer service.” 

PremFina, based in London, is a fintech company that aims to transform the insurance payment landscape. It provides insurance brokers and companies with financing facilities and a white-label cloud-based software-as-a-service platform.  

The company’s mission is to make insurance more accessible and affordable, supporting customers and partners. 

PremFina chief revenue officer Paul Trail added: “We are thrilled to collaborate with MyFirst, a specialist in their field and a real ‘go-to’ place for young drivers in the UK. It is harder than ever for young people to get on the road, and insurance shouldn’t be a barrier that stops them getting on the road, whether that be for work or anywhere they need to go.”