Covering the costs of insurance premiums can be challenging, especially when a large sum is required up front; both you and your customer can be impacted by this. Using the premium financing integration FIRST Insurance Funding via the Connect Marketplace, you can offer insureds the option of financing hefty premiums without ever leaving the management system. The FIRST Insurance Funding integration into EZLynx provides you a competitive advantage in winning customers by providing prompt premium financing options. Please note, this feature requires Submission Center to use. 


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How to setup


In order to setup the FIRST Insurance Funding integration in EZLynx, you must setup an account with FIRST Insurance Funding. If you are not already a FIRST Insurance Funding customer, there is a link in the Connect Marketplace that leads to a DocuSign form to create an account. 


To get there, hover over the Connect icon and choose Home. This will take you to the Connect Marketplace page. Once there, use the Search Integration bar to find FIRST Insurance Funding. When their card comes up, select it. This will take you to the FIRST Insurance Funding integration page.




On the FIRST Insurance Funding (FIF) integration page, you'll find a FIRST Insurance Funding application link. This will help you setup an account with FIF. Once you have an account with them, come back to EZLynx and select the Actions button. Then, choose Add Integration. This will take you to the FIF setup page.




On the FIF Setup page, input your FIF username and password, agree to the terms and select the Save button to setup the FIF integration. 



Create Proposal


With the FIRST Insurance Funding integration enabled, you can retrieve a financing quote in real time, include the financing option in your Submission Center proposals, and if the customer is ready to approve, create a Premium Finance Agreement (PFA) ready for signature. 


On the Carrier Submission page in the Submission Center, when viewing lines of business for a carrier that has a status of Quoted or Proposed, you will see the Create Proposal button on the top-right. Select the Create Proposal button.



When you select the Create Proposal button, you will be taken to the Select Quotes for Proposal screen. Use the radial buttons to select which carrier and lines of business you want on the proposal. When you are ready select the Add Premium Finance button. This will take you to the Premium Financing Vendors page.



On the Premium Financing Vendors page, the system automatically selects the vendor as FIRST Insurance Funding. Checkmark the lines of business to be financed and fill in the Fully Earned Taxes/Fees, Financed Taxes/Fees, and the Down Payment amount. When you are ready, select the Generate Proposal button to generate the proposal containing the payment options. Share this with your customer to begin the necessary discussions. As a reminder, the generated proposal document, contained in the submission folder in the Documents Library, can be converted to a PDF version. 


Create Agreement


When the customer is ready to approve the proposal, generate the Premium Finance Agreement (PFA) for your customer to sign. To generate the PFA, you must have at least one submission quote with a status of Quoted, Proposed, Bind Request, or Bound. 


If you have a quote with appropriate status, you will see the Create Agreement button in the top-right. Select the Create Agreement button. This will take you to the Select Quote for Premium Finance Agreement page.




On the Select Quote for Premium Finance Agreement page, use the radial buttons to determine which lines of business and carrier you want on the agreement. Then, select the Continue button. This will take you to the Premium Financing Vendors page. 





On the Premium Financing Vendors page, the system will automatically select FIRST Insurance Funding. All you have to do is select a General agency/Company for each line of business in order to preview the PFA and/or the send it for E-signature. 


We hope this article was able to help you get setup and use the Premium Finance Integration FIRST Insurance Funding. Please let us know how we did by answering the question below. Check out our articles on the right to learn more about mastering EZLynx!