August 29, 2016


COST utilizes industry-leading technology platforms to provide a mature application environment to run all of your premium finance company’s operations.  We have carefully selected IT vendors like Amazon Web Services, CloudSigma, RedHat, and Aperta to provide COST and our clients technology that can suit both current and future needs.  The COST Online Quoting & Account Management System is easy to use and provides complete access to all of the information for your premium finance company – all in real time. Our technology enables our clients to interact with the premium finance company simply and easily from any internet-connected computer. In designing the systems that users interact with on a daily basis, we spent time with and gathered input from the customer service representatives and agents located at clients nationwide. This enabled us to create an online system that, while powerful and full-featured, still “makes sense” to the users who have to access it for quoting and contract statuses.


The COST online system enables you to submit premium finance agreements electronically – saving you time and effort and streamlining the booking process. Contracts are sent through our system and reviewed by our personnel to verify compliance with applicable state laws and client guidelines. After verification, booking takes place, typically within one business day after submission. Faxing, emailing, or mailing the contract is not necessary for booking – however the signed original (or a copy) should be sent to us for our records.

The instant the contract becomes live, our system generates the account number for the contract as well as all notices for the insured, the applicable insurance companies and/or general agencies, and the insurance agency. As with everything else in our system, this information is processed in real time, so your users know immediately of any activity on any of your accounts. Additionally, users can also generate endorsement or “add-on” quotes without having to call us, saving time and effort.


We understand that having on-demand access to your finance entity’s information is vital, so to expedite the flow of information about a premium finance account, our system incorporates a virtual file cabinet. This technology provides complete and total access to any document on any account at any time! No calls or emails are needed, no waiting for a file to be pulled and sent to you. Users simply access the account they need information on and locate the desired document off a chronological list.  Every document generated on an account is stored in the virtual file cabinet, from monthly billing statements to late and cancellation notices to reinstatement requests. All documents are stored in pdf format for ease of viewing and storage. Of course, this system does not replace contacting us with questions on an account, but serves to supplement the user experience and save time if a copy of a document is needed.

In addition, the COST online system provides on-demand reporting for the users you wish to have access.  Traditionally, at the end of each month we send reports to our clients on the activity and financial information of their premium finance company. In order to expedite the availability of this information and make getting an overview of the business a quick and easy process, we have developed Reports-On-Demand. With minimal effort, clients can now run any report we offer from within our online system at any time. While this does not replace the reports we send to our clients, it does supplement our reporting with on-demand access to all company information and provides detailed or broad views of finance company activity.


All of our clients enjoy the benefits of our comprehensive data safety & security procedures, which ensure that each of the premium finance companies we operate and manage maintain distinct and secure records and data. Policyholders are protected by our Policyholder Information Security & Confidentiality procedures. We utilize alarmed building security, locked bin shredding, keyring tokens, network firewall and anti-hacking/anti-virus prevention. Data backups are an important and necessary step in the safety of your premium finance company, and we perform daily and weekly/monthly backup routines on all company information. All document retention is done in accordance with applicable state laws. Digital copies of all documents, including payment receipts and copies of checks are retained per state requirements.