Taking On Insurance Premium Funding In Asia

Tuesday 11 February, 2014. Brisbane, Australia: Red Planet Software, a leading provider of software solutions to finance providers, today announced the launch of its expansion into Asia. With domination in the Australian marketplace in the provision of insurance premium funding software solutions and rapid growth within New Zealand, Asia presents the next local location for the company’s expansion.

Initial research and interest from several key players in Singapore, Malaysia, Indonesia, the Philippines and Hong Kong – Red Planet Software is enthusiastic to now service this region.

“This is an exciting time for our organisation,” says Peter Williams, CEO of Red Planet Software. “We have such innovative solutions and a great development and support team ideally located to service clients throughout Asia. Premium Insurance Funding and Pay-By-The-Month flexibility is a new service that many companies in the Asian region can benefit from. They will be able to expand their current service offering to their client base and attract new business.”

Premium Funding and Pay-By-The-Month options helps smooth cash flow, preserves credit lines and using solutions like Odyssey Premium Funding Software by Red Planet, helps simplify documentation and automates many processes. Funding providers can preserve their capital and reduce payment costs while brokers can offer their clients more affordable insurance solutions, add value to their customers, and make potential new income from commissions. It’s a win-win for everyone!

Mr Williams continues, “With around one third of all commercial premiums being funded in regions such as Australia, New Zealand, UK and USA, we see a great opportunity for this product in Asia.”

Red Planet Software has been servicing clients, ranging from small businesses to large enterprises, in the finance industry for over 10 years. We work with over 90% of the Premium Funding Insurance and Funding providers in Australia and New Zealand and are now expanding through Asia. Our clients include Insurance brokers, underwriters, banks and finance companies ranging in size from single user to hundreds of users. Our solutions manage over $US5 Billion in repayments annually.

• For further information on Red Planet Software, please visit our new website at http://www.redplanetsoftware.com.
• Please subscribe to our quarterly newsletter to receive news on our latest developments and projects. Subscribe Now.

Mr Williams will be visiting throughout Asia March 3rd-7th, 2014. To secure an information session, please visit http://www.redplanetsoftware.com, contact Red Planet Software at info@redplanetsoftware.com or call +61 7 3376 6214.