FIRST Insurance Funding of Canada and Red Planet Software Partner to Expand Broker Capabilities

Toronto, ON (June 26, 2023) – FIRST Insurance Funding of Canada (FIRST Canada), the industry leader in payment solutions, is pleased to announce a strategic partnership with Red Planet Software, a leading global provider of insurance software solutions, to expand Canadian brokers’ financing and payments offering.

The partnership between FIRST Canada and Red Planet Software allows the two payments and software innovators to combine their respective strategic expertise and resources to empower brokers with bespoke payment tools and capabilities to drive broker/client connectivity and business growth.

FIRST Canada will evolve their full stack software and solutions with Red Planet’s internationally-adopted software and advance brokers’ offering by reducing cost, risk, and complexity by delivering a more flexible, seamless platform. This integrated offering will enable brokers to optimize their payment processes, automate administrative tasks, and access real-time data, ultimately improving their operational efficiency and client connectivity.

“The partnership between FIRST Canada and Red Planet Software is a continuation of the multi-million dollar investment we make each year into the success of the Canadian broker channel,” stated Stuart Bruce, CEO, FIRST Canada. “This is a significant step to increase business value and ensure our broker partners have the cutting-edge solutions they will need for the rapid changes we see coming in the Canadian landscape.”

“I am equally excited to partner with industry leader FIRST Canada. This is a noteworthy milestone in our mission to help our customers be great at what they do,” expressed Peter Williams, CEO and Founder, Red Planet Software. “By combining our expertise, we will put the next-generation of software solutions within reach for insurance brokers.”

The parties are already in development and plan to make an accelerated release announcement in the coming months.

About FIRST Insurance Funding of Canada

FIRST Insurance Funding of Canada (FIRST Canada) provides the Canadian Insurance Market with comprehensive payment solutions. Brokers, MGAs, and carriers can partner with FIRST Canada and expand their offering to provide more value, choice, and convenience for all their clients. The combined strength of FIRST Canada’s dedicated team, evolved offering, and innovative platform positions its partners to meet the demanding future of the Canadian Insurance landscape armed with market-leading solutions for success. FIRST Canada is part of Wintrust (Nasdaq: WTFC) a financial services company with more than $52 billion in assets and a part of the largest premium finance companies in North America. For more information, visit firstinsurancefunding.ca.

About Red Planet Software

Red Planet Software is universally trusted to deliver complete payment solutions globally for Insurance Premium Finance organizations. With over $8 Billion in repayments every year and 30 years of innovation and development, Red Planet Software has unrivalled knowledge and expertise in solution integration and proven concepts. With installations throughout Australia, Canada, Singapore, New Zealand, and the United States, Red Planet Software’s approach remains responsive and customer-oriented to deliver flexible and reliable solutions. For more information, please visit www.redplanetsoftware.com.

SOURCE: FIRST Insurance Funding of Canada

Tags: Brokers, FIRST Insurance Funding of Canada, partnership, payment, Red Planet Software