Newgen collaborates with Tech Mahindra to automate the finance process of Premium Credit

Newgen Software has announced that Premium Credit Limited, the leading provider of premium finance in the UK and Ireland, has selected Newgen’s automation platform to enhance their premium finance process for business insurance customers.

The implementation will be done in collaboration with Tech Mahindra.

Leveraging Newgen’s Loan Origination Solution, configured on its leading low code digital transformation platform (iBPS), Premium Credit is looking to further automate its end-to-end premium finance process. The low code platform will provide them with the required scalability to rapidly and efficiently originate, process, disburse, and monitor loans.

Julie Hagley, Digital Services Director at Premium Credit, said, “Newgen and Tech Mahindra are the right partners for us as we look to accelerate our digital transformation initiatives. With their help, we will be able to streamline our existing processes, improve business growth, and enhance self-service capabilities for our brokers and customers.”

Jinender Jain, Senior VP & Sales Head, UK&I at Tech Mahindra, said, “We have been actively collaborating with Newgen Software on this project. Being an adaptable, digital enterprise is the way forward for businesses of the future. Tech Mahindra has been at the forefront spearheading digital transformation with low-code no-code capabilities. This strategic partnership will support Premium Credit to enhance their processes and digital customer experience.”

Virender Jeet, CEO, Newgen Software, said, “We are excited to support Premium Credit deliver on their purpose of supporting their community of customers and partners in creating opportunities through convenient payments. Our platform will enable them to achieve increased speed and agility in their operations, and ensure adherence to risk and compliance requirements.”