PremFina, a UK-based premium finance provider, has entered a long-term strategic partnership with boom, the digital insurance brand run by Abacai Technologies Limited, to give boom’s customers more flexible ways to pay for their cover.

Under the agreement, boom will connect directly to PremFina’s technology platform. Its customers will be able to spread the cost of their premiums through a smooth, integrated finance process designed to make insurance payments easier and more adaptable.

boom chose PremFina after assessing the market and weighing up alternative providers. It cited PremFina’s technology offering, its emphasis on service and its capacity to meet the changing demands of a rapidly expanding digital insurer. Both companies regard the agreement as a significant strategic step that sets the groundwork for collaboration and innovation over the long term.

PremFina was founded in 2015 to change how insurance premiums are paid, with the goal of making them more affordable, accessible and flexible. The firm works with more than 200 broker partners, and its leadership team has extensive experience in the sector and a history of innovation.

The company says the boom agreement reinforces its standing as a major supplier of premium finance to UK brokers, MGAs and digital insurers. It also adds to a run of long-term partnerships PremFina has formed with innovative, technology-focused businesses across the insurance industry.

PremFina chief product & revenue officer Laura Sweetman said, “We are delighted to be partnering with boom and supporting the next phase of its growth journey.

“As a business, we have invested heavily in technology, automation and integration capabilities, so partnering with a digital-first brand like boom is an excellent fit.

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