FIRST Insurance Funding

What FIRST Insurance Funding does

FIRST Insurance Funding is a premium finance company that provides installment loan funding for property and casualty insurance premiums, allowing insureds to pay large annual premiums in monthly installments while preserving working capital. The company operates as a division of Lake Forest Bank & Trust Company, N.A., a Wintrust Community Bank, leveraging the Wintrust Financial Corporation balance sheet (over $70 billion in parent assets) to underwrite more than $18 billion in annual loan volume. FIRST serves independent insurance agents and brokers, MGAs, insurance carriers, captive insurance arrangements, construction firms requiring wrap-up policy financing, and agency owners seeking perpetuation or acquisition financing.

The platform core consists of FIRST InSite, an integrated web-based quoting, account management, billing, payment, and reporting system with API-level integrations into agency management systems, plus a native iOS/Android mobile app for insureds. Adjacent product lines include agency lending (multi-million-dollar senior loan facilities, lines of credit, and ESOP financing through Wintrust Agent Finance and Wintrust Insurance Banking), deposit and treasury management solutions with extended FDIC insurance via MaxSafe, equipment leasing ($500K–$50M transaction sizes), private client wealth management, and payment/insurtech integrations with major card networks. An affiliate — Wintrust Life Finance — extends the offering into life insurance premium financing.

FIRST distributes through a sales-led, B2B2C model. More than 35 relationship managers and regional presidents cover the U.S., supported by exclusive partnerships with Council of Insurance Agents & Brokers (CIAB), Assurex Global, and MarshBerry. The company employs 300+ staff across offices in Northbrook IL, Newport Beach CA, and Islandia NY, with coverage in all 50 states plus Canada, Puerto Rico, Guam, and USVI. Revenue is generated primarily through interest on premium finance loans, supplemented by interest on agency lending facilities and fee income from treasury management and banking services.

Name

FIRST Insurance Funding

Legal name

FIRST Insurance Funding

Website

https://firstinsurancefunding.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Short description

FIRST Insurance Funding is a North American premium finance company that lends to insureds for property and casualty insurance premiums. Operating as a Wintrust community bank division, it serves independent insurance agents, brokers, MGAs, carriers, and captive insurance arrangements across all 50 U.S. states.

Ownership category

akta.pro rank

Product category

Premium Finance

NAICS

Sales Financing (52222)

akta.pro primary industry

Embedded Insurance Distribution & Premium Financing (FSAGALAF)

Keywords

• Premium finance services
• Insurance premium loans
• Agency lending solutions
• Commercial insurance financing
• Life insurance premium financing

Headquarters

HQ city

Northbrook

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Premium Finance Interest Income: FIRST generates revenue primarily through interest on premium finance loans. The company provides funding to pay insurance premiums upfront, and insureds repay the loan plus interest through installment payments. This is the core revenue stream for the company.
2. Agency Lending Interest Income: Through Wintrust Insurance Banking, the company provides multi-million-dollar senior loan facilities including lines of credit and term loans to insurance agencies. Revenue generated from interest on these commercial loans.
3. Treasury Management and Deposit Services: Through Wintrust, offers deposit accounts, treasury management tools, and related banking services that generate fee income.
4. Life Insurance Premium Finance: Through affiliate Wintrust Life Finance, provides traditional life insurance premium financing to high net worth clients and corporations, generating interest income on these loans.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

FIRST Insurance Funding provides premium finance loans that allow insureds to pay property and casualty insurance premiums in installments rather than upfront, while also delivering a full suite of financial solutions to insurance agencies including agency lending, treasury management, equipment financing, life insurance premium finance, and specialized financing for captive and construction programs. Operating as a division of Lake Forest Bank & Trust Company, N.A. (a Wintrust community bank), the company processes over $18 billion in annual loan volume through a national network of relationship managers and the FIRST InSite digital platform.

Product overview

FIRST Insurance Funding operates as a premium finance platform offering a comprehensive suite of financial services for the insurance industry. The core offering is its premium finance service (FIRST Insurance Funding), supported by the FIRST Insite online platform and mobile app for quoting and account management. The company provides an integrated ecosystem including agency lending, treasury management, equipment financing, ESOP services, private client banking, payment/insurtech solutions, and specialized financing for construction and captive insurance arrangements, all backed by Wintrust's financial infrastructure. Wintrust Life Finance extends the portfolio to life insurance premium financing.

Differentiator

Problem solved

Functional benefit

Brands

• FIRST InSite: Internet-based online quoting and account management system for premium finance
• FIRST InSite Mobile App
• Wintrust Agent Finance
• Wintrust Insurance Banking
• Wintrust Life Finance

Products and services

• Premium Finance for Property and Casualty Insurance Core premium finance service that provides cash flow options and payment solutions for property and casualty insurance policies, enabling insureds to finance insurance premiums through installment loans with fixed rates and payments over the loan term.
• Life Insurance Premium Finance (Wintrust Life Finance) Traditional life insurance premium finance lending program for high net worth clients and corporations, enabling them to obtain life insurance while retaining assets for other investments, with custom pricing without capacity constraints, fees, or pre-payment penalties.
• Agency Lending and Insurance Banking Comprehensive financial solutions for independent insurance agencies including multi-million-dollar senior loan facilities, lines of credit, term loans, loan syndications, SBA financing, treasury management, and wealth management services through Wintrust.
• Deposit and Treasury Management Solutions Deposit accounts and treasury management tools including receivables solutions, payables services, information reporting through i-BusinessBanking, and liquidity services including MaxSafe deposit accounts with up to $3.75 million FDIC insurance.
• Equipment Loans and Leasing Equipment financing and leasing solutions through Wintrust Commercial Finance, Wintrust Equipment Finance, and Wintrust Specialty Finance divisions, offering transaction sizes from $500,000 to $50 million.
• ESOP Finance Employee Stock Ownership Plan financing services guiding businesses through ownership transition from current ownership to employee ownership, including ESOP transactions and related lending.
• Private Client Wealth Management Wealth management and banking services for high net worth individuals including banking and customized credit, investment and asset management, trust and estate services, family office banking, and extended FDIC coverage through MaxSafe program.
• Payment and Insurtech Solutions Customized billing and payment solutions including online payment integration at point of sale, installment payment options, ACH processing, credit card payments (American Express, Mastercard, VISA, Discover), and integration with carrier, MGA, and captive program platforms.
• Construction Wrap-Up Financing Specialized premium financing for construction industry including wrap-up policies, owner controlled insurance programs (OCIP), contractor controlled insurance programs (CCIP), fixed-rate loans, and creative wind and hurricane provisions.
• Captives Financing Customized financial solutions for captive insurance arrangements including 831(b) captives, agency/association/group captives, and risk retention/purchasing groups, with immediate full funding and reduced operational costs.

Quantifiable outcome

• Over $18 billion in annual loan volume processed
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• Assurex GlobalflagshipStrategic or Co-development Partner · 1 January 2006FIRST has been the exclusive premium finance partner of Assurex Global since 2006. The partnership provides total financial solutions to Assurex Global insurance professionals, including premium financing, agency lending, perpetuation loans, and treasury management services.
• Council of Insurance Agents & Brokers (CIAB)flagshipStrategic or Co-development PartnerExclusive premium finance partner of CIAB. FIRST regularly participates in the Council's Insurance Leadership Forum, Legislative & Working Groups Summit, and consults with member agencies to build best-practice premium finance programs.
• MarshBerrycoreStrategic or Co-development PartnerExclusive premium finance partner of MarshBerry. MarshBerry provides intellectual capital, strategic consulting, and M&A advice to insurance industry clients. FIRST helps their clients realize their fullest business potential through premium finance solutions.
• Wintrust Life FinancecoreStrategic or Co-development PartnerWintrust Life Finance is the largest traditional life insurance premium finance lender in North America and an affiliate of FIRST Insurance Funding. The partnership enables FIRST to offer life insurance premium financing through Wintrust Life.

Scale indicators8 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Premium Financing Specialists: Premium Financing Specialists (PFS) is a specialized premium finance company offering P&C premium financing solutions to insurance agents and brokers. Operates in the same niche as FIRST with similar relationship-driven GTM and comparable loan products for commercial and personal lines.
• North American Premium Finance: North American Premium Finance is a regional premium finance lender offering installment financing for P&C premiums through independent agents. Competes directly with FIRST in overlapping geographies with comparable product structure and agency-broker channel focus.
• BankDirect Capital Finance: BankDirect Capital Finance is a bank-affiliated premium finance lender (subsidiary of BMO) offering premium financing for P&C and personal lines insurance. Explicitly cited in FIRST's management backgrounds as a direct competitor, with overlapping target customers (independent agents and brokers) and similar loan products.
• AFCO Premium Credit: AFCO Premium Credit is a long-standing direct competitor in P&C premium finance, providing premium financing for commercial and personal lines. Targets the same independent agency and broker channel with similar installment loan structures, making it a closely comparable specialty lender.
• IPFS Corporation: IPFS (Insured Portfolio Services) is one of the largest direct competitors in P&C premium finance in North America, offering installment financing of insurance premiums through a similar B2B2C agency/broker distribution model. Operates as a KKR-owned platform, making it the most directly comparable scaled competitor to FIRST.
• Wintrust Life Finance: Wintrust Life Finance is FIRST's affiliate and the largest traditional life insurance premium finance lender in North America. Operates in the closely adjacent life insurance premium finance segment with shared Wintrust capital backing and overlapping relationship management infrastructure.

Broad incumbents

• Brown & Brown Insurance: Brown & Brown is one of the largest independent insurance distribution platforms in the US, working with thousands of agencies and brokers. As both a potential customer and competitor-adjacent player in insurance financial services, it represents the broader incumbent scale at which FIRST operates as a financial partner.
• Wintrust Financial Corporation: Wintrust Financial Corporation is FIRST's parent holding company with $70B+ in assets, operating community banks, specialty finance, and wealth management businesses. As the parent and capital provider, Wintrust is the broad incumbent whose balance sheet enables FIRST's scaled operations and cross-sell.

Others

• MarshBerry: MarshBerry is an insurance distribution consulting and M&A advisory firm and exclusive strategic partner of FIRST Insurance Funding. While not a competitor, it is a key ecosystem participant that drives deal flow and agency client acquisition for FIRST through its consulting and benchmarking relationships.
• Council of Insurance Agents & Brokers (CIAB): CIAB is the leading industry association for commercial insurance brokers and a flagship exclusive partner of FIRST Insurance Funding. As an ecosystem participant, CIAB provides FIRST with direct access to its member agencies—the core of FIRST's target customer base—and shape premium finance practice standards industry-wide.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FIRST Insurance Funding