Image: Its software marketplace aids clients to scout for the best financial solution and cuts down time to finance insurance policies. Credit: Steve Buissinne from Pixabay.

California-based Pavo Insurance Solutions has launched its new premium finance marketplace on the Dais Technology platform for insureds and brokers.

Pavo’s embedded solution, unlike conventional premium finance options,  combines traditional finance with technology at the point of checkout to offer a streamlined and effective user experience.

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Users will be able to experience quick and comparative premium finance quotes from several markets, powered by Pavo’s software, to enable the best terms as well as increase the bind ratio by agents and brokers.

Following the integration into the Dais Technology platform, Pavo claimed that its software is creating an ‘industry first marketplace’ that is designed to serve as a one-stop shop for all premium finance requirements.

Presently, Pavo’s marketplace offers solutions from finance companies to offer insureds with a host of financing options.

Pavo CEO Katie Wexler said: “We’re thrilled to bring this groundbreaking technology to the insurance industry.

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“Our marketplace platform provides a better way for brokers and insureds to finance their insurance premiums, and we believe it will revolutionise how insurance is purchased and financed.”

Pavo’s technology is claimed to be the first of its type as it offers several options and allows brokers and clients to digitally finance an insurance policy.

Its software marketplace aids clients to scout for the best financial solution and cuts down time to finance insurance policies.

Dais Technology CEO Jason Kolb said: “I think Pavo is the way of the future. Pavo allows multiple premium finance options right from the checkout. We at DAIS are honored to be the first platform to leverage Pavo.

“We chose to work with Pavo because we want to add value to our existing and new customers: Brokers, MGAs, Wholesalers, and Carriers.”

Pavo’s platform integrates with policy platforms, agency systems, and digital brokers, thereby making it easy for brokers and insureds to access the financing they require embedded in current workflows.

Wexler said: “Our goal is to make insurance accessible and affordable for everyone, and we believe that our premium finance marketplace l is the future of Insurtech.”