Premium finance software for banks

A $40 billion loan industry, right in your neighborhood

Let us suppose that there is an industry that is available to your bank that would generate returns to the bank far in excess of almost anything that you are currently invested in.

Let us suppose further that the bank could post

Returns on Investment (ROI) of 45-65% and
Returns on Assets (ROA) of 4-5% based upon
Net Interest Margins in excess of 4.5%(spring 2008).
- We have a pro forma that your CFO could prove the numbers. Would you be interested? For more information email us.

The industry is financing property-casualty insurance premiums. Other banks (see below) keeping it secret, have been doing it for years reaping the harvest. The premium finance business is a healthy and robust industry and is being given away to others, generating transactions, as you read this document, at a rate of about $156 million dollars a day.

You have two options, if you decide to do insurance premium finance, 1) get software and get insurance agents to send you business like everyone else or 2) use our unique methodology and software we developed over 30 years to take insurance agents from the marketshare of other banks listed below.

Evolution added another 10+ man years on top of existing innovation to create this new innovative premium finance software for banks with completely new methods referred to as Agent’s Plans which has been specifically designed to have a major impact on the premium finance industry.

Most importantly, Evolution's new Agent’s Plans will help make sure agents stay with the bank, never again sending their business to anyone else!

Current Bank Involvement

Today, banks are more likely to be lending directly to the consumer than to be providing traditional revolving lines of credit but they typically do so through a wholly-owned subsidiary. Examples abound:

Premium Assignment Corp (PAC) is owned by SunTrust Bank.

UPAC was purchased by First Banks, Inc. of St. Louis.

Atlantic Bank of New York owns Standard Funding.

Westchester PF, part of Flatiron Credit, was purchased by Hudson United Bankcorp.

BB&T, a North Carolina domiciled bank with a large investment in the property-casualty insurance business, owns and operates AFCO, Prime Rate, Sefco (Southeast Fidelity Corp.). July 2014 insurance premium finance grows to 50 million, read more ...

Wintrust, a group of 10 or more banks in Illinois has for years owned and operated First Insurance Funding; FIF exceeded $1 Billion in new business in 2003, all through the purchase of premium finance contracts. It is believed that they have started implementing purchase agreements with small premium finance companies which mimic a bank line of credit.

Wintrust also purchased Broadway Premium Funding and operates it independently.

Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, the insurance premium finance company Budget Installment Corporation,

The daily purchase of premium finance agreements is, incidentally, how Flatiron Credit has managed the lines of credit it has provided to smaller premium finance companies.

Wells Fargo is connected to Flat Iron

BankDirect Capital Finance, a division of Texas Capital Bank, N.A. around July 2005

Meta Financial Group, Inc. (NASDAQ: CASH), announces that on December 2, 2014, its bank subsidiary, MetaBank, completed the acquisition of substantially all of the commercial loan portfolio of AFS/IBEX Financial Services, Inc.