Australian Factoring Company (AFC) has teamed up with Marsh Advantage Insurance (MAI) to offer panel shops savings and sufficient cover.
The AFC has launched a new division, 'Insurance Solutions', which will aim to assist repairers with insurance needs including Workers Compensation Insurance.
The partnership will even offer monthly instalments to panel shops to spread out the cost.
AFC director Walter Rapoport said that the move has been sparked by feedback from repairers about the state of insurance in the industry.
“We identified this need after talking to panel shops over the past six months – most felt they were paying too much there was also confusion about the right cover.”
Rapoport also said that the business chose to partner with MAI as it's previously worked within the automotive industry such as tyre dealers.
“There are probably more than 3000 panel shops in Australia and specialist pricing and cover should be made available to this sector.”
AFC and MAI have worked on launching the initiative over several months.