Insfin Solutions Pty Ltd “Insfin” is a privately owned Australian company incorporated in 2000 to develop online financial services distribution solutions for the converging financial services industry.
In 2001 Insfin was awarded a COMET government grant to commercialise its web portal technology for the motor finance industry. Insfin subsequently was successful in supplying its technology to IAG’s subsidiary Swann Insurance, Honda Australia, Holden, Subaru, Ford Direct, Toyota and Lexus. Insfin delivered substantial productivity and financial benefits to these companies and their dealership networks providing innovative state of the art web portals. Insfin was also successful in obtaining a patent for its technology which enables different business processes to be seamlessly glued together.
The impetus behind the business was the growing need for tools which could help financial institutions make better use of their databases. By providing in effect “eGlue”, our technology seamlessly glues together information from different sources into a single view for the customer.
The company’s platform product, Insfin Advantage uses patented technology allowing businesses to:
- have straight through processing
- have a single point of data capture
- store and distribute customer data
- calculate accurate finance and insurance quotations real time
- streamline application processes across multiple products
- evaluate risk across both finance and insurance products
- produce high quality branded “e” documentation to reduce paper work
- manage the distribution of electronic transactions
- payment and instant cover available online
- populate other databases with account origination data
- provide consolidated reports across different business areas
- cross sell multiple financial products in a single transaction (patented)
The design emphasis throughout the Insfin product range is on intuitive ease of use, minimisation of effort and performance optimisation without the need for high specification POS hardware. This has led to improved efficiency in new business processing, cross selling and significantly improving the bottom line.