SNAP and Imperial PFS® (IPFS) share the same desire to continually innovate on products offered so brokers, Carriers and MGAs can focus on what matters most: selling insurance.
In early 2015, SNAP set out to build solutions that would alleviate common pressures felt by brokerages and transform the way payment plans were presented to insureds from the outset. By focusing on innovative platforms and tailor-made APIs, SNAP grew to a network of 4,000+ system users, were awarded the coveted Top 50 Fintech Companies in Canada badge, and received runner up recognition for the award of ‘Innovation of the Year’ at IBAO’s 2019 conference and tradeshow.
With rapid growth came the desire to also look towards enhancing their services to better meet the needs of all broker, carrier and MGA partners across Canada.
‘We’re incredibly proud of what this milestone means for us as a team’ says Kumar Bhaskar, SVP of SNAP Premium Finance. ‘As we look ahead, joining forces with Imperial will push us further along the trajectory we’re already on as a business today. This acquisition brings together the two best-of-class payment solutions providers, allowing us to redefine the service we provide and create customized solutions to help businesses grow.’
‘Today, we’re in a stronger position to achieve the mission we set out to accomplish’ Sumeet Sharma, SVP of SNAP Premium Finance, concludes. ‘The difference is we now have more resources to continue building products that deliver on service and delight our partners along the way.’
SNAP looks forward to sharing more details of this acquisition and what it means for partners in the weeks to follow.
IPFS was founded in 1977 and is a respected leader in the premium finance industry. With more than 500 Associates at 30 locations across the United States and Canada, they bring the strength of an international company reinforced by local relationships and service. As the largest independently-owned premium finance company in the United States, IPFS is laser-focused on creating customized solutions to advance your business. Even though they are in the financial industry, they don’t think like a bank.