Markerstudy has established a new specialist division dedicated to overseeing all premium finance activities across its group operations.
Cristian Jackson (pictured above) has been appointed as premium finance and lending director, and will report to Emma Rawlinson, CEO of Markerstudy Distribution. Jackson joins the company with over 30 years of experience in premium finance, bringing industry knowledge to the newly created division.
Jackson said that he has joined Markerstudy to lead a team focused on adding value across the premium finance supply chain for policyholders.
“With the new landscape of direct regulation, higher than ever standards of consumer protection, and the increased focus on consumer lending, the insurance premium finance market needs to adapt and innovate to offer new approaches to different payment options to ensure our customers’ needs are met and we give them access to credit which is affordable to them,” Jackson said.
Jackson also indicated that his first priority will be to enhance the customer experience, with an emphasis on delivering the best possible outcomes. He plans to introduce new lending products in both the commercial and retail finance segments alongside the group’s existing product range.
The creation of the division comes at a time when the Financial Conduct Authority (FCA) has intensified its scrutiny of the premium finance sector. In November, the FCA launched a market study to review whether consumers who use credit to pay for their motor and home insurance are receiving fair value.
The study is investigating the transparency of financing options, the competitiveness of offers, and the impact of commissions on customer outcomes. Regulatory oversight is a factor influencing how insurance groups like Markerstudy approach premium finance operations and compliance.
The cost of financing insurance premiums is also in the spotlight. According to research by consultancy Pearson Ham, the average cost of paying for motor insurance in monthly installments was 10.7% in September 2024, a decrease from 11.9% in October 2023. Home insurance premium finance averaged 8.3% over the same period, down from 10.0% a year earlier.
These figures indicate that while costs have declined, premium finance remains a significant consideration for consumers managing insurance payments over time.
Research has also highlighted substantial variability in premium finance charges across the market. Motor insurance premium finance rates have ranged from 1.9% to 20.2%, while home insurance charges have varied from between 0% and 36.8%.
This wide range has prompted concerns about whether consumers are getting fair value from their finance arrangements, with questions raised about the consistency and transparency of costs presented to policyholders.
Meanwhile, the establishment of the new division also follows Markerstudy’s acquisition of Hughes Insurance in November 2024. The transaction added 85,000 customers to Markerstudy’s distribution network and expanded its reach in Northern Ireland.
Hughes Insurance brings expertise in motor, home, van, travel, and business insurance, strengthening Markerstudy’s portfolio in these segments.
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